{"id":34011,"date":"2016-02-22T17:23:27","date_gmt":"2016-02-23T01:23:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=34011"},"modified":"2016-02-22T17:23:27","modified_gmt":"2016-02-23T01:23:27","slug":"dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/","title":{"rendered":"DFS Site FantasyHub Suspends Operations, Leaving Players Unable to Access Balances"},"content":{"rendered":"
\"DFS
DFS site down: Andrew Busa, founder of FantasyHub, which announced cessation of its operations on Friday. (Image: courier-journal.com)<\/figcaption><\/figure>\n

DFS site FantasyHub appears to have bitten the dust, leaving players unable to access their funds. The daily fantasy sports operator left customers unable to access their funds over the weekend.<\/p>\n

From Friday on, DFS players saw this message when they logged on:<\/p>\n

“FantasyHub has temporarily suspended operations.\u00a0Further updates have been made via email.\u00a0We apologize for any inconvenience this may cause, but we are currently in discussions with a strategic 3rd party regarding the future of FantasyHub & its players.”<\/p>\n

FantasyHub, whose USP was that it enabled its players to donate some of their winnings to charity, is the second small DFS<\/a> operator to close in the past month, following FantasyUp.<\/p>\n

The latter site imploded in January, informing its players that it no longer had the funds to continue and that it could not afford to return their balances.<\/p>\n

FantasyUp Bailed Out\u00a0<\/b><\/h2>\n

FantasyUp was rescued by the burgeoning iTEAM network, a DFS white-label platform founded by former MGM and Galaxy Resorts exec Gabe Hunterton and poker marketing agent Brian Balsbaugh.<\/p>\n

FantasyHub\u2019s reference to a third-party may suggest that it\u2019s going through a similar process.<\/p>\n

Based in Austin, Texas, FantasyHub was founded in 2014 by Kentucky native Andrew Busa. In an interview with Louisville Business First <\/i>last July, Busa said his company had received $118,000 from startup accelerator TechStars to launch, and in July, was seeking $750,000 in seed funding in order to develop a mobile app and add competitive gaming leagues.<\/p>\n

Busa said by the first quarter of 2016, he planned a Series A round to raise between $3 million and $5 million, although that could grow to $15 million, he added, \u201cdepending on what happens between now and then.\u201d<\/strong><\/p><\/blockquote>\n

Were Balances Segregated?<\/b><\/h2>\n

What happened between now and then is unknown, but it doesn\u2019t seem to have worked out quite the way that Busa had envisioned it.<\/p>\n

We can only hope that players\u2019 balances are safe. FantasyHub is a member of the Fantasy Sports Trade Association, whose operators pledge to keep their players\u2019 funds segregated from their operating funds, but as the DFS industry remains unregulated by a third-party watchdog, there is no way of knowing if this actually happened.<\/p>\n

Many states are looking at regulating daily fantasy sports sites, most notably California, the industry\u2019s second-biggest market. Such regulation would enforce segregation of player funds and protect consumers, opening operators up to full transparency and accountability.<\/p>\n

In the meantime, this kind of bad press is the last thing the DFS industry needs right now.<\/p>\n

An email sent to players over the weekend apologized for \u201cradio silence\u201d and assured that the company would \u201cbe in touch very soon with full information.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

DFS site FantasyHub appears to have bitten the dust, leaving players unable to access their funds. The daily fantasy sports operator left customers unable to access their funds over the weekend. From Friday on, DFS players saw this message when they logged on: “FantasyHub has temporarily suspended operations.\u00a0Further updates have been made via email.\u00a0We apologize […]<\/p>\n","protected":false},"author":42,"featured_media":34012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16],"tags":[],"acf":[],"yoast_head":"\nDFS Site FantasyHub Suspends Operations, Leaving Players Unable to Access Balances<\/title>\n<meta name=\"description\" content=\"DFS site FantasyHub, after FantasyUp, becomes the second small site operator to fold in a month.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DFS Site FantasyHub Suspends Operations, Leaving Players Unable to Access Balances\" \/>\n<meta property=\"og:description\" content=\"DFS site FantasyHub, after FantasyUp, becomes the second small site operator to fold in a month.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-23T01:23:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/02\/busa-9hyjhxf8z8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/\",\"url\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/\",\"name\":\"DFS Site FantasyHub Suspends Operations, Leaving Players Unable to Access Balances\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/02\/busa-9hyjhxf8z8.jpg\",\"datePublished\":\"2016-02-23T01:23:27+00:00\",\"dateModified\":\"2016-02-23T01:23:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"DFS site FantasyHub, after FantasyUp, becomes the second small site operator to fold in a month.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/dfs-site-fantasyhub-suspends-operations-leaving-players-unable-to-access-balances\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/02\/busa-9hyjhxf8z8.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/02\/busa-9hyjhxf8z8.jpg\",\"width\":200,\"height\":200,\"caption\":\"DFS site down: Andrew Busa, founder of FantasyHub, which announced cessation of its operations on Friday. 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