Customers of defunct daily fantasy sports operator FantasyHub have received some good news with the announcement that DraftKings will honour all of their account balances.
DraftKings said Thursday that 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.
“We promise to uphold these values and guarantee that FantasyHub players can engage with our site with complete confidence and security,” he added.
With immediate effect, FantsyHub players can transfer their accounts to DraftKings and gain access to their previously deposited funds, either for withdrawal or for play on the DraftKings platform.