FantasyHub.com is the latest daily fantasy sports operator to shutdown. If your a player on FantasyHub you have already probably noticed that your not able to play their anymore and worse yet your not able to login to the website to withdraw your money. They put out the following announcement through an email:
“Due to advice from counsel, we cannot divulge many details but we have been in discussions with a strategic third party regarding the company and are now finalizing those discussions. While we can’t say more at this time, we’ll be in touch very soon with full information.”
FantasyHub was a unique daily fantasy sports operator in that a portion of the proceeds that where entered into contests went to charity. They raised more than $200,000 for charities. FantasyHub is now the second daily fantasy sports operator to shutdown with the first being FantasyUp.com. Their was good news for the players of FantasyUp as they where acquired by fantasy operator iTEAM Network, which was then able to process withdrawals for users of FantasyUp. Although fantasy users money should be kept separate from other operations of the business that did not seem to be the case with FantasyHub as they don’t have customers money available to give back to them. This is one of the reasons that many states want to be able to keep a watchful eye on these fantasy operations so that users don’t lose their money in this way. FantasyHub currently appears to be in talks to be taken over by another company. Users of FantasyHub have to hope that a deal is made much the way a deal was made between FantasyUp and iTeam Network as that will assure that the FantasyHub users will be able to withdraw their money from the site instead of losing it. We should learn more in the next few days if a deal is able to be worked out or not. In the meantime if users want to play in daily fantasy sports they should stick to playing at the two biggest sites in the industry DraftKings.com and FanDuel.com as they seem to be far away from ever closing down.