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DFS site FantasyUp shuts down - Not paying out customers

Posted on 1/14/16 at 11:28 pm
Posted by shel311
McKinney, Texas
Member since Aug 2004
110670 posts
Posted on 1/14/16 at 11:28 pm
Not a good look for DFS, though a small site.

Luckily I made a big withdrawal a while back and only had a small amount in there.

If anyone had any, it's gone, they've confirmed.

I think they had a ponzi scheme going with rake free games and 300% deposit bonuses, trying to rack up new members and using that money to pay on withdrawals.

They were accepting withdrawals all the way up until this evening when the site shut down. Soooooo shady.

The dude that started it is user danwahoo on FD, apparently a big name, won a ton of money, used it to invest in that site.
This post was edited on 1/14/16 at 11:28 pm
Posted by TechDawg2007
Bawville
Member since Nov 2007
32249 posts
Posted on 1/15/16 at 11:17 am to
so what's your take on Fanduel? Think it will stay open for a while?
Posted by Goldrush25
San Diego, CA
Member since Oct 2012
33793 posts
Posted on 1/15/16 at 2:40 pm to
Corruption exists in literally every industry that's ever existed, past or present. This just underscores the need for regulatory oversight, which is imminent.

DFS will be fine. I know in CA, they've just passed a regulatory bill through their Assembly committee. When it looked as though things were doom and gloom in NY, DFS has now been granted a permanent injunction until the NY trial brought by the NY AG is resolved. Illegal practices by a small company by industry standards isn't going to derail what's going on right now.

I can't deny that this is a black eye for the industry, but not necessarily indicative that this is a industry-wide problem. Certainly hurts the other small companies trying to build themselves up to challenge a Fanduel or Draftkings.
This post was edited on 1/15/16 at 2:48 pm
Posted by BallChamp00
Member since May 2015
6355 posts
Posted on 1/15/16 at 4:58 pm to
Fanduel and DK will be here forever. They have the top lawyers and they have a huge bargaining chip. MONEY. Cuban being involved now is huge as well. They will iron out a way to have the government regulate it and give them a cut and everything will be fine.


Not sure why anyone would play a site that says they will not take rake for any game until April(6 months after start) That screams scam.
This post was edited on 1/15/16 at 5:00 pm
Posted by BallChamp00
Member since May 2015
6355 posts
Posted on 1/15/16 at 5:02 pm to
Lol found this from 5 months ago. From their support.


While support can’t address Mountain_Cobra specifically, we can share the same info we have shared to customers/vendors:
FantasyUp is in process of finalizing a deal with a national-wide brand and raising significant funding to dramatically increase its exposure, marketing, and product offerings. At the current moment, our accounts are being held in escrow. While this is an exciting time for FantasyUp and it’s players, it is frustrating as well. We pride ourselves on exceptional and speedy customer service. That being said, we must continue to wait for this deal to finalize (or our period of exclusivity to expire) before we proceed. Closing has taken longer than anticipated.
We appreciate your patience and as always, please contact support if you have questions.
Kind Regards,
FantasyUp Support
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Posted by TheWalrus
Member since Dec 2012
40408 posts
Posted on 1/15/16 at 8:47 pm to
Reminds me of Pitbull poker giving free non deposit money and being a total sham. There were many poker site scams and even the major ones were shady.
Posted by drizztiger
Deal With it!
Member since Mar 2007
36813 posts
Posted on 1/15/16 at 9:28 pm to
quote:

There were many poker site scams and even the major ones were shady.
The major ones weren't shady at all. They still run their business with other players outside the US.

It's the US govts fault US players can't legally play legit poker outside of casinos. Want to know why? The casino lobby bought politicians that tacked on an illegal banking amendment to a PORT SECURITY bill. The guy who proposed it said gambling should be illegal yet he took a $50k contribution from the casino lobby.

Laws in the US are bought.
This post was edited on 1/15/16 at 9:29 pm
Posted by BallChamp00
Member since May 2015
6355 posts
Posted on 1/16/16 at 1:43 am to
Lol. Have u checked numbers on brick and mortar poker pre 2011 and after 2011? Online poker actually got more players to play brick and mortar.

The reason is because they can't find a way to tax and regulate it without it costing them money.
Posted by drizztiger
Deal With it!
Member since Mar 2007
36813 posts
Posted on 1/16/16 at 2:05 am to
quote:

Lol. Have u checked numbers on brick and mortar poker pre 2011 and after 2011? Online poker actually got more players to play brick and mortar.
My point exactly.

It happened before 2011 though. It was 2009 and the big dogs Pokerstars and PartyPoker weren't allowed to accept deposits from US bank accounts. I'll let you Google why that happened.
Posted by TheWalrus
Member since Dec 2012
40408 posts
Posted on 1/18/16 at 2:35 pm to
The Full Tilt guys money laundering wasn't shady? Stealing money had nothing to do with laws.
This post was edited on 1/18/16 at 2:36 pm
Posted by floridatigah
FL
Member since Oct 2004
10395 posts
Posted on 1/20/16 at 12:25 pm to
Anyone else have any thoughts on fanduel taking away a users wins on their profile? I see why they did it, especially since some people were using bots but think it just tilts things even more towards the "pro" players.
Posted by Goldrush25
San Diego, CA
Member since Oct 2012
33793 posts
Posted on 1/21/16 at 11:26 am to
quote:

Anyone else have any thoughts on fanduel taking away a users wins on their profile? I see why they did it, especially since some people were using bots but think it just tilts things even more towards the "pro" players


I wasn't aware of this. Do you mean that they no longer display how many wins a player has?

If that's the case this is good. Pros use programs to search for weak players with a low win count. They can't do this if no wins are displayed.
Posted by DallasTiger45
Member since May 2012
8419 posts
Posted on 1/21/16 at 12:06 pm to
I guarantee you that pros "bum hunt" far more than people avoid high win counts
Posted by floridatigah
FL
Member since Oct 2004
10395 posts
Posted on 1/21/16 at 2:23 pm to
Maybe but it is dumb for a newbie to post matchups anyway and they're still going to get scooped if they are a new user. And those pro programs have user data all the way up to a few days ago and other users have nothing.
Posted by LooseCannon22282
Mobile
Member since May 2008
33704 posts
Posted on 1/21/16 at 2:29 pm to
Yeah I noticed the other day that your win total isn't viewable anymore. You can still keep track of your own by clicking on History though.

I could see it making a difference for cash games but sort of irrelevant for tournaments.
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