ITEAM Network will honour FantasyUP’s customer accounts

Wednesday February 3,2016 : ALL THINGS DFS

The saga continues…

One of the many movements in the daily fantasy sports (DFS) industry recently saw the demise of DFS operator FantasyUp  who has now been acquired by white label DFS provider iTEAM Network for an undisclosed consideration.

According to Legal Sports Report, iTEAM Network will honour FantasyUP’s customer accounts.

In a statement to players, iTEAM Network said:

“On Wednesday, the iTEAM Network will be re-starting, the daily fantasy sports site which recently announced its insolvency. As part of the takeover, iTEAM will reinstate all players’ accounts making all winnings and balances available to customers.

At the same time, iTEAM will install a new user interface and establish the requisite fiscal responsibility and back-end systems to ensure the site’s viability for the future.”.

In related news, DraftKings’ Twitter account hinted at its imminent launch in the UK market, postponed numerous times due to fine-tuning of the offer.

This week the company announced its withdrawal from the Hawaii market following the Attorney General’s determination that daily fantasy sports were in fact prohibited under existing State Law.

More positive news from the State of Virginia saw the House sub-committee on General Laws unanimously approve a fantasy sports regulation draft  which now pushes forward to the Committee on Appropriations.