For the second time in 2016, a daily fantasy sports site has players on hold, as FantasyHub is reportedly stalling on requested payouts.
[UPDATE: FantasyHub announced Friday it was ‘temporarily suspending site operations’]
Last month, FantasyUp went under, shuttering operations with a notice that it did not have the money to refund player balances. Soon after, they were bailed out by the iTEAM network, which manages a cadre of sites with pooled liquidity, and players were eventually paid out.
FantasyHub is believed to have a substantially larger player base, and unlike FantasyUp, it is a member of the Fantasy Sports Trade Association.
Details on the situation at FantasyHub are scant at the moment. Players began reporting payout delays and unanswered customer service inquiries earlier this week on the RotoGrinders forum. In the last two days, a site representative—presumably Steven Plappert, the company’s co-founder and CFO—has posted two messages, neither offering much information.
We really appreciate the concerns that you are bringing up and apologize for the radio silence.
I can assure you we will be issuing a formal response very soon and ask if everyone could hold their concerns until this Friday for more information.
Just wanted to reach out again to let you know we are watching things closely here and appreciate all the concerns regarding recent events.
I can assure you, we are working very hard over here 24/7 and will be able to provide clarity soon.
I am sorry this has caused dissent but I encourage everyone to remain calm for just a little while longer.
All the best,
Real-money operators are required by the FSTA to segregate player deposits and winnings from operational funds, but the organization has no oversight powers or true enforcement mechanism.
FantasyHub launched in December 2014 and is based in Austin, Texas. Its point of differentiation in the industry has been its charity focus, but that has now also been called in to question, with some users reporting that charities appearing on FantasyHub’s page have no relationship with the company.
FantasyHub has yet to comment directly on the matter; as of Friday morning it claims to have donated more than $200,000 to various charities.
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ODDS & ENDS