Customers of fantasy sports operator No House Advantage are expressing their frustration that they have not been able to access their money for weeks, with no clear path to a resolution.
Customers allege that No House Advantage has withheld customer funds for several weeks. No House Advantage recently made its Twitter account private and failed to respond to LSR attempts for comment.
“We expect a resolution within the next 7-14 days,” the second note from NHA Support read.
Daily fantasy sports operator silent
No House Advantage founder and CEO Kevin Koeppel has not responded to multiple LSR requests for comment.
Corstone Capital acquired No House Advantage one year ago, according to Koeppel. LSR reached out to a pair of higher-ups at Corstone, who did not respond to emails seeking comment.
A source familiar with NHA believed the company was making updates to its backend. Its future plans and financials are unclear.
Vendor seeks outstanding payment
Customers are not the only ones out of luck at the moment. One vendor told LSR that it is still owed money from its NFL agreement with NHA from last season.
The vendor said the arrangement went well throughout the year. However, the last due payment was never sent and multiple emails and texts went unanswered.
When the vendor finally reached NHA, the vendor described the call as confrontational and unprofessional. The vendor decided to no longer do business with NHA, calling it an isolated incident in the DFS space.
Customer frustration grew on social
A Reddit thread entitled “If anyone has money in No House Advantage, withdraw ASAP” was started more than three weeks ago.
Wrote user justinb97:
“It might be too late, but NHA has been setting people’s account to 0 and processing withdrawals for weeks. Their twitter is private right now and people are reporting all sorts of issues. Check your balances and attempt to withdraw what is left.”
Twitter user Ryan Rancatore posted a similar account:
“Ah…it is wild to me how little pub this is getting, thought maybe you hadn’t heard. Yes…no withdrawals for anyone since around July 3, twitter account went private, vague/no answers via email, zero public commentary. Most everyone assumes the money is just gone.”
Speculation on social media suggested the DFS operator could be shutting down. The source, however, speculated it could be looking to sell or find a bigger brand to partner with.
“Support says they’re “switching payout providers” but it seems sketchy still. Why they wouldn’t tweet about it or send an email or anything seems weird.” justinb97 wrote.
What is No House Advantage?
According to the company’s LinkedIn profile, No House Advantage was founded in 2018. Its headquarters is located in Miami.
Its company overview reads: “No House Advantage LLC, a daily fantasy sports platform that offers real-money and free-to-play contests across all major professional sports leagues.”
In March, data supplier PA Betting Services announced a multi-year partnership with NHA “to provide premium Formula 1 content to their platform.” In April, NHA partnered with Dynasty League Football.
Last year, Sportsflare provided No House Advantage “with access to its market-leading player props for immensely popular esports titles” in exchange for a monthly licensing fee. Playmaker was No House Advantage’s exclusive fantasy partner for the 2022 NFL season, featuring fantasy content integration.