Daily fantasy sports operator ThriveFantasy has drawn the ire of customers for allegedly failing to allow them to withdraw money from their accounts.
One customer alleged to LSR that daily fantasy sports outfit ThriveFantasy has not responded to his messages seeking to withdraw nearly $45,000 remaining in his account.
Other customers have posted similar accounts via Reddit and social media, with five-figure account balances at stake.
ThriveFantasy CEO Adam Weinstein and a general admin account for the company have not responded to multiple email requests made by LSR for comment.
Daily fantasy sports funding for Thrive
ThriveFantasy announced a Close of Series B funding, its third and final round, in November 2022. Pitchbook shows the amount raised as nearly $4 million.
The round was led by Bullpen Capital, with participation from Correlation VC, Gaingles, New York Angels, Andover Ventures and individual strategic angels.
“Our innovative gaming concepts and ease of use (higher/lower) give the casual fan, along with the more seasoned players, a different way to engage and compete. Player props are the new wave and we know it is here to stay,” Weinstein said then. “It’s been a unique time to raise capital and we are excited that Bullpen Capital recognizes our accomplishments and has the expertise to truly add value as we continue to grow.”
According to their terms and conditions, ThriveFantasy was available in 30 states. Now-defunct DFS provider No House Advantage had similar issues to those alleged by customers to ThriveFantasy, as reported by LSR.
No House Advantage preceded ThriveFantasy
Last year, NHA customers vented via social media over the DFS operator leaving them in the dark regarding how they could withdraw their money.
Customer service provided little explanation, ultimately ceasing operations and pointing users toward a PDF form that appeared “scammy” according to one social media comment.
Approximately a month ago, NHA was made aware of what may have been a coordinated attempt to defraud the company via a payment chargeback scheme which has impacted our ability to process withdrawals,” the company said in a statement at the time.
After a previous attempt to sell failed, Betr agreed to acquire NHA customers and their remaining betting balances in September 2023.
Customer’s ThriveFantasy headache
Dane, a North Carolina customer who did not want to provide his last name for privacy reasons, says he is owed nearly $45,000 from ThriveFantasy.
He has been unsuccessful in trying to get his money out since November, he told LSR.
“None of my emails have been responded to,” Dane said.
Withdrawal attempts have been unsuccessful
Dane says he was able to withdraw $1,000 without issue. Yet subsequent attempts to withdraw $100 and $9,000 were unsuccessful.
Dane then said he tried to withdraw all of the remaining $44,300 in his account, and has yet to receive it.
NC AG office letter to Thrive
Dane then went to the attorney general’s office in North Carolina. The office sent an email to ThriveFantasy, but the company did not respond.
Customer might be out DFS money
A lawyer told Dane that it would be difficult for him to recover his remaining account balance.
“I’m sorta screwed if they’re bankrupt,” Dane said. “Even if I won in court and they have no money, it doesn’t do anything for me. It sucks to have $45,000 on there, and feel completely helpless. And they’re still marketing and taking in deposits and not letting people withdraw. … If you respond and tell me your situation, I’d at least know what’s going on.”
Other daily fantasy sports issues
Dane is not the only customer allegedly out of luck.
Brett Johnson, director of revenue at HotStreak, said he knows four customers that are each owed at least $15,000 each, with their total owed amount reaching approximately $125,000.
“I’ve followed Thrive for 3+ years and hate how they do business and reflect on my industry,” Johnson told LSR in a direct message.
Johnson tried to bring attention to the issue via social media posts:
ThriveFantasy smaller payouts
Another customer requesting anonymity told LSR that he is allegedly owed more than $2,000 but has been ghosted and can no longer access his account. There is, however, anecdotal evidence of one bettor getting a smaller withdrawal in recent weeks after applying pressure.
LSR was told by a source in contact with ThriveFantasy that the company went to a new payment processor, and had a reputation for being slow with payouts in general. The source was also led to believe their player funds were separate from their business accounts.
ThriveFantasy at a glance
ThriveFantasy’s official Twitter account has not posted anything since Christmas Day. However, the company has been sending promo emails to customers in recent days.
ThriveFantasy negative reviews on BBB
ThriveFantasy has received several negative reviews via Better Business Bureau.
“It is a Scam. Stay away. Doesnt give payout ********************* with these scammers.” Karan S wrote on Dec. 19.
