FantasyDraft has agreed to acquire FantasyAces in a deal that will have the player base and player balances transferred to FantasyDraft by the end of January.
The number of DFS options has narrowed with the news that FantasyDraft has acquired FantasyAces. The move comes less than five months since FantasyAces acquired a site of its own, FantasyFeud. According to a note posted by the two sites, it is expected that the process to be completed by the end of January.
The acquisition illustrated the latest example of an industry that has seen significant consolidation over the last year. To some, the FantasyAces acquistion came out of nowhere, but there were some signs over the last few days.
Last week, the lid was shut on the peak of DFS season with the conclusion of the NFL Championship, the last NFL slate until the NFL preseason next summer. At FantasyAces, multiple players began reporting cashout issues, which was followed by a halting of the FantasyAces stock on Tuesday. FantasyAces quickly assured players that despite the developments that players could soon expect good news.
That good news was, of course, the FantasyDraft acquisition.
What FantasyAces Players Need to Know
Visitors to the FantasyAces site are greeted with a message informing them of the acquisition by FantasyDraft (an excerpt which can be seen below):
Fortunately, this appears to be a relatively good outcome for players, especially considering the recent chatter about slow payments. Any time a site migrates to another site, there are going to be some bumps in the road. Naturally, many players are still going to be upset in some form or another — whether it’s that a favorite site has ceased to exist, complaints about how the situation was handled or that access to funds are restricted for a few days.
FantasyAces players who are currently unable to withdraw their funds should be able to do so within the next few days. According to statements, FantasyAces and FantasyDraft expect the process to be complete within 3-5 days, which would mean players should have full access to their account by the end of the month. Once the migration has been completed, players should receive an email instructing them on how to log-in to FantasyDraft.
Here is some key information related to the transition.
Pending contests – If you had joined any contests that had not started or finished, those buy-ins will be canceled with funds applied to your account.
Pending withdrawals – Players that had outstanding withdrawals will be credited back to their new FantasyDraft account. These players will be able to withdraw once the transfer process is complete.
Pending bonus and points – FantasyDraft will honor any existing bonuses and points that you had accumulated at FantasyAces. 100 Points will be equivalent of $3.20 in FantasyCash.
Existing Accounts – If you had an existing account at FantasyDraft, your FantasyAces balance will be transferred to your FantasyDraft account.
Who is FantasyDraft?
FantasyDraft is a DFS site that launched during the 2014 NFL season. During the last NFL season, they held guaranteed tournament up to $100,000. They are generally regarded as the 4th most popular daily fantasy sports site offering contests.
FantasyDraft offers contests for the NFL, NBA and MLB and offers players a 100% up to $600 sign-up bonus to get started.
For those keeping tabs on the DFS world over the last year, changes seem to be happening at a lightning-fast clip. Rosters and the iTeam Network shut down a month ago. FanDuel and DraftKings of course have announced a merger. FantasyFeud, FantasyAces and FantasyDraft are effectively now one site. DraftOps and DraftPot aren’t offering contests at the moment. There just isn’t a whole lot of options left for players.
The good news is the consolidation could mean more serious competition against the 500 pound gorilla, FanDuel and DraftKings, which should merge sometime during 2017. Before FantasyDraft’s acquisition of FantasyAces, FantasyDraft was already 4th in traffic behind both sites and Yahoo. With the acquisition, FantasyDraft is indicating they are in for the long haul and want to put up a challenge against the well-capitalized FanDuel and DraftKings brands.
After the big 2, Yahoo and FantasyDraft, there aren’t a lot of options right now. Players can look to Draft, Star Fantasy Leagues and DraftDay, but those sites are simply not going to have the volume of games that most are looking for. The new state regulations are increasing the cost of doing business and this has been a big reason for consolidation we are seeing.
And as long as this is still a reality, it wouldn’t be surprising at all to see the other small sites that remain acquired or gradually fade away.