SportsQuack Shutters, Ducks Recent Withdrawal Attempts

Customers of the now-defunct SportsQuack daily fantasy sports site cannot withdraw their funds nearly three weeks after it shut down. Its Georgia-based owner, OneCricket Fantasy, Inc., claimed it would file for bankruptcy.

The site announced it was closing on May 17. Its social media accounts have been shut down, and in an email to customers, a Marietta law firm said it had been retained to represent SportsQuack through a Chapter 7 filing. As of May 31, there was no record of a Chapter 7 filing for OneCricket.

Here’s an update from @SportsQuack. No surprise but doesn’t look like anyone will be getting what was in their accounts. Really unfortunate situation that is not a good look for the DFS industry.

I’ve had a working relationship with Phani (the CEO) for 3 years. I feel… pic.twitter.com/W3uYiNLY5o

— Tristan – Clockwork Sports (@ClockwrkSports) May 30, 2024

Also at GT: New Sports Betting Sites | Legal Sports Betting States | Sports Betting Revenue by State

SportsQuack Latest DFS to Run Afoul of Daily Fantasy Players

An email sent to customers blamed the “pause” on a “changing regulatory environment.” Daily fantasy sites, including Georgia-based PrizePicks, have been forced to adjust what they offer as state regulators found them too similar to against-the-house sports betting. PrizePicks remains active, however, and like Underdog Fantasy, returned to states like Florida with an amended product.

“Users with remaining balances will be refunded and we have already started the process of refunding to respective accounts,” the message read. “This will take some time, and we appreciate your patience while these refunds are processed.”

Reddit user Anti316 responded to a Gaming Today query about withdrawals with “I can’t even get my deposits back, no one will answer our emails.”

Added ResolveGloomy: “Nope, cannot withdraw and no response from any of my emails.”

Unexpected closures have been numerous among the DFS start-up sector in recent years, with ThriveFantasy and No House Advantage also going dark. Their customers were also left scrambling for ways to recover their money.

SportsQuack, which changed its name from SportsBattle four months ago, claimed over 50,000 customers in 24 states. The company’s CEO, Phani Gundamraj, is being sued in Connecticut Superior Court by merchant cash-advance firm Ibex Advance Group LLC, claiming he owes $180,000.

Since the shutdown, former SportsQuack players have commiserated on Reddit, and many have begun coordinating legal action. Among their many frustrations is their claim that SportsQuack bombarded them with deposit-match offers in the weeks before the closure.

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