Another DFS company closes down

Daily fantasy sports operator FantasyUp has closed its virtual doors, advising players by email:

“FantasyUp no longer has the capital to fund even minimal operations. As of January 14th, 2016, the Company has ceased operations and legally dissolved the business. Our sincere apologies that we cannot process withdrawals, as the Company does not have the funds needed to process the withdrawals to all customers.”

For experienced online punters, the writing was on the wall months ago as slow-pay delays were experienced and the owner assured punters that an infusion of capital from an unidentified “nation-wide brand” was expected.

That was followed by FantasyUp claims that the new finance had been “delayed for investor personal issues” and finally the news that the operation has closed.

The abrupt closure leaving players out in the cold will probably fuel the “regulate or ban” DFS debate raging in the United States at present.

FantasyUp was founded by a player named Dan Ziernicki in September 2014, reportedly funded from a $3.5 million win at daily fantasy sports operator FanDuel.

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