Daily fantasy leader DraftKings is stepping up for the good of the industry and will be covering hundreds of thousands of dollars in unpaid player balances and unfulfilled charitable donations from shuttered daily fantasy site FantasyHub.
The full cash balance of every FantasyHub player will be available through the DrfatKings platform, alongside access to its full array of DFS contests, with immediate effect.
FantasyHub’s DFS offering went offline without warning in February, leaving players unable to withdraw their funds and raising doubts about the financial management of the company.
DraftKings co-founder and chief revenue officer Matt Kalish said in a statement to players that his company is aware of the allegations regarding financial mismanagement at FantasyHub and understands that this has impacted their ability to access their funds.
“This news is a troubling breach of trust for you, as FantasyHub players and as members of the DFS community, ” he said.
In welcoming FanatsyHub players to the DraftKings platform, Kalish stressed that his company has always kept customer funds separate from its operating accounts, and said that it is championing legislation in dozens of states that will require all DFS operators to follow this industry standard.
ESPN
DraftKings Covers Outstanding Debts and Donations of FantasyHub
By David Purdum