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Leaguesafe (Fanball?) Withdrawal (1 Viewer)

johnb

Footballguy
Anybody else having trouble with withdrawing winnings this weekend?  It seems like I got routed from Leaguesafe into a conglomerate site with Fanball, then I had to deny their contests about 3 different ways, and then got an error when trying to pull money.  I'm hoping it's just a glitch but figured I'd check in here to see if anyone else had to do something different on their site.

 
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johnb

Footballguy
Yeah that all sounds about right. Once I got through their bonus promotions BS I was finally able to cash out. 
Yeah, this is a bummer.  I skipped through all of that, selected a withdrawal option, and clicked withdrawal.  Then I get an error.  I'm glad to hear you were successful because maybe it's just a glitch.  I was nervous because of some of the other crashes in the past.  The reason I got onboard with Leaguesafe early on was that they weren't associated with the actual games.  Now it appears they are and my money is in a "Fanball Wallet" all of a sudden.  Customer service has so far been less than helpful.

Hopefully patience will prevail.

 

JohnnyU

Footballguy
NYRAGE said:
I haven't actually pulled mine out yet, but I had to go through the Identification process and now it wants me to fill out a W9. I did some research on hobby earning taxes. Not fun at all. 
WTF, w9?  Should I withdrawl what I have ($643) before additional funds are added to avoid paying taxes for winnings over $1199  I didn't think this type of winnings were taxable.  I know they haven't been in the past.  I know things like Casino winnings over $1199 is taxable income, but fantasy football is considered a game of skill to the IRS and isn't taxable to my knowledge.

 
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JohnnyU

Footballguy
I just withdrew $643 (paper check with a $4 fee) and wasn't directed to any W9 form.  I had to wade through all the offer BS, but it wasn't really that much more painful than before.  However, my transaction for the withdrawal isn't showing under recent transactions even though it was subtracted from the balance.  Anyone know why the withdrawal isn't showing in the recent transactions yet?   Also haven't received an email receipt for my withdrawal even though the balance was subtracted..  Also, is there a customer support number to call in case I need to call them?  I googled and don't see one.  The LeagueSafe site is also giving periodic gateway timeout error 504.  Perhaps it will update eventually with the withdrawal transaction.

 
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NYRAGE

Footballguy
WTF, w9?  Should I withdrawl what I have ($643) before additional funds are added to avoid paying taxes for winnings over $1199  I didn't think this type of winnings were taxable.  I know they haven't been in the past.  I know things like Casino winnings over $1199 is taxable income, but fantasy football is considered a game of skill to the IRS and isn't taxable to my knowledge.
All income is taxable. Fantasy sports can fall under either Hobby Income or Gambling  (if certain conditions are proven). In most cases, it will be hobby income and be listed on the 1040 form on line 21, “Other income.”

The IRS concluded in a 2005 letter ruling that the net method must be used when entrance fees are only netted against winnings from that particular contest as a return of capital—entrance fees on losing contests are not deductible against winnings from other contests. In other words, only entrance fees can be deducted from leagues you have won.

Here's the kicker, these deductions can only be taken when you itemize your taxes instead of the standard deduction. To make matters worse, it's only when it's greater than 2 percent of your adjusted gross income.  If your AGI is 100,000, then 2% is $2,000. If you win 3 $1k leagues, then you can deduct $1k as expense ($3K in league fees less the $2k (2% of AGI). 

It's complicated, but more info can be found here:

https://www.journalofaccountancy.com/newsletters/2016/feb/how-to-report-fantasy-football-winnings.html

 

JohnnyU

Footballguy
All income is taxable. Fantasy sports can fall under either Hobby Income or Gambling  (if certain conditions are proven). In most cases, it will be hobby income and be listed on the 1040 form on line 21, “Other income.”

The IRS concluded in a 2005 letter ruling that the net method must be used when entrance fees are only netted against winnings from that particular contest as a return of capital—entrance fees on losing contests are not deductible against winnings from other contests. In other words, only entrance fees can be deducted from leagues you have won.

Here's the kicker, these deductions can only be taken when you itemize your taxes instead of the standard deduction. To make matters worse, it's only when it's greater than 2 percent of your adjusted gross income.  If your AGI is 100,000, then 2% is $2,000. If you win 3 $1k leagues, then you can deduct $1k as expense ($3K in league fees less the $2k (2% of AGI). 

It's complicated, but more info can be found here:

https://www.journalofaccountancy.com/newsletters/2016/feb/how-to-report-fantasy-football-winnings.html
Either way I wasn't directed to fill out a form.  I was able to withdrawal my $643 to a paper check (minus a $4 fee) with no problem.  My only issue right now is the transaction for the withdrawal isn't showing in recent transactions even though it was deducted from the balance.  I don't plan on paying taxes on this money.

 
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JohnnyU

Footballguy
NYRAGE said:
Sweet. At least you weren't asked to fill out the form like I was.  I have a lot more in there unfortunately. 
I figured I would withdrawal the $643 before another $525 is added, which won't go in until after the 1st of Jan 2018.  Not sure if that matters or not, but it probably does if it is applied in a new year.  I know I'll get charged another $4 for another paper check, but I don't care.  Do you know of a customer support number for LeagueSafe?

 
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johnb

Footballguy
Anyone else getting a periodic gateway timeout error 504 accessing LeagueSafe?  
Yes.  As far as taxes, Leaguesafe used to have a statement basically saying it was on you.  Now that they are same company with Fanball, I’m worried they don’t have a choice.  I never joined or played Fanball, yet somehow my money is now in “my” Fanball Wallet according to them.

 
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johnb

Footballguy
I figured I would withdrawal the $643 before another $525 is added, which won't go in until after the 1st of Jan 2018.  Not sure if that matters or not, but it probably does if it is applied in a new year.  I know I'll get charged another $4 for another paper check, but I don't care.  Do you know of a customer support number for LeagueSafe?
They don’t have one.  No phone or chat according to their website.   I’ve had a ticket in with only one reply since yesterday.

 

JohnnyU

Footballguy
Yes.  As far as taxes, Leaguesafe used to have a statement basically saying it was on you.  Now that they are same company with Fanball, I’m worried they don’t have a choice.  I never joine for played Fanball, yet somehow my money is now in “my” Fanball Wallet according to them.
I didn't have to fill out a form for my withdrawal I just made for a paper check (minus $4 fee).  I'm now more concerned my withdrawal transaction doesn't show under recent transactions, nor did I receive an email of the withdrawal, but the amount ($643) was deducted from my account balance.  Perhaps the recent transactions will update shortly.  I'm looking for a customer support number for them but I can't find one.

 

JohnnyU

Footballguy
They don’t have one.  No phone or chat according to their website.   I’ve had a ticket in with only one reply since yesterday.
Do you know if recent withdrawals will eventually show under the recent transactions?  Will they eventually send an email of the transaction?  They did deduct from the balance however and I'm worried this will turn bad for me.  I thought I would wait a day before submitting a ticket.  I'm hopeful the paper check will be on the way but disturbed I haven't received an email, yet the balance was deducted by $643.

 
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johnb

Footballguy
Do you know if recent withdrawals will eventually show under the recent transactions?  Will they eventually send an email of the transaction?  They did deduct from the balance however and I'm worried this will turn bad for me.  I thought I would wait a day before submitting a ticket.  I'm hopeful the paper check will be on the way but disturbed I haven't received an email, yet the balance was deducted by $643.
No idea.  I tried to do Visa card with no luck.  That’s as far as I have gotten.  The website is not helpful.

 

barackdhouse

Footballguy
I had one big cashout earlier in the week that worked fine. But the MFL10 I won was supposed to be transferred to Fanball for cashout but has not. MFL transferred my credits for taking 2nd in a couple spots but not the $100 for winning. Support ticket pending. I have multiple MFL logins so perhaps that is the problem.

 

JohnnyU

Footballguy
No idea.  I tried to do Visa card with no luck.  That’s as far as I have gotten.  The website is not helpful.
I submitted a ticket asking why my withdrawal doesn't show under recent transactions and why I didn't receive an email of my withdrawal.  I was going to wait a day, but decided to go ahead with submitting the ticket to LeagueSafe.  How in the hell does this reassure me they are sending my paper check if I don't have record of the withdrawal except them subtracting the $643 from my balance.  

 

johnb

Footballguy
I submitted a ticket asking why my withdrawal doesn't show under recent transactions and why I didn't receive an email of my withdrawal.  I was going to wait a day, but decided to go ahead with submitting the ticket to LeagueSafe.  How in the hell does this reassure me they are sending my paper check if I don't have record of the withdrawal except them subtracting the $643 from my balance.  
I would do the same.  I’m probably paranoid because of past failures and concerns but Leaguesafe seems to be worse than past years after whatever this merge/buyout is.  It was so easy to withdrawl the past couple of years.  Now it feels shady or at least less polished to me.

 

Arodin

Footballguy
Remember a few years back when Phenom's went under, everyone saying how leaguesafe would never have issues and could be relied on by everybody?

Do people still feel that way after it suddenly changes management and starts having software issues?

Just wondering...

 

johnb

Footballguy
Remember a few years back when Phenom's went under, everyone saying how leaguesafe would never have issues and could be relied on by everybody?

Do people still feel that way after it suddenly changes management and starts having software issues?

Just wondering...
Exactly where my bias is coming from.  If I can’t withdrawal my money, I immediately start wondering if it’s because they don’t have it.

 

-OZ-

Footballguy
Remember a few years back when Phenom's went under, everyone saying how leaguesafe would never have issues and could be relied on by everybody?

Do people still feel that way after it suddenly changes management and starts having software issues?

Just wondering...
This is why I only give a moderate amount of money to people I trust. I didn't like getting less than the full winnings or being forced to take it as a gift card (iirc you could use an Amazon card which was fine but still...) 

 

whiskey7

Footballguy
LeagueSafe is Charchian and Fanball has been resurrected by Charchian and some of the original folks who were involved before it was sold and went to crap. I don’t know if that helps anyone at all but I guess I would just say if you’ve had good experiences with LeagueSafe in the past I don’t see a reason to distrust them now. Sounds like they’re having some technical issues but I think they’ll get it straightened out fairly quickly. Hope so, anyways. I will be looking to withdraw some $ myself here...

 

Slider

Footballguy
I would say if you're having these problems now I would look elsewhere next year. Smoke-fire kinda thing to me.

 

Jello_Biafra

Footballguy
Exactly where my bias is coming from.  If I can’t withdrawal my money, I immediately start wondering if it’s because they don’t have it.
Oh, they have it. And one day they're going to keep it. Just too much money not to steal.

 

jadensdad

Footballguy
I got my money nice and easy after navigating the site (bonus was of no interest to me)

leaguesafe has been around a long time with no issues.

 

jeaton6

Footballguy
It shows under fanball wallet transactions, not LS transactions for me. Navigate to far link and see if it shows.

 

johnb

Footballguy
3 days and counting with no resolution.  At a minimum, their customer service sucks compared to what it was when LS started.

 
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Craig_MiamiFL

Footballguy
Didn't have issue getting money but the changes they've aren't for the better. Navigation is terrible. Don't like having to decline whatever these Fanball contests are multiple times. Have nothing bad to say about my prior experiences but getting spammed with these contest requests leaves a bad taste in my mouth. Bad enough going to pass on returning. 

 
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JohnnyU

Footballguy
Got a paper check in the mail yesterday.  One more to go when the commish releases the funds.

 

eNdblu

Footballguy
Anyone know how long money has to stay in the account to get the extra bonus money they offer?

 

jeaton6

Footballguy
eNdblu said:
Anyone know how long money has to stay in the account to get the extra bonus money they offer?
Not about how long at all. If you select the $80 option which requires keeping $200 in account then you need churn $280 in contest play on NFFC or Fanball (assuming you only kept $200 in account (NOTE: if you keep $500 then you need to churn $580, etc)) before withdrawing. If you withdraw so that your balance goes below $200 then you forgo the $80 bonus. That’s how I understand it.

 

DAG

Footballguy
I submitted a ticket asking why my withdrawal doesn't show under recent transactions and why I didn't receive an email of my withdrawal.  I was going to wait a day, but decided to go ahead with submitting the ticket to LeagueSafe.  How in the hell does this reassure me they are sending my paper check if I don't have record of the withdrawal except them subtracting the $643 from my balance.  
I find the lack of receipt / confirmation unsettling too. Glad to read above you got your paper check ok. I took a screen shot of my withdrawal and then just held my breath until it showed up in my bank account (did the transfer to checking). They really should email a receipt with confirmation details. It’s been like this for years to my memory. 

 

JohnnyU

Footballguy
I find the lack of receipt / confirmation unsettling too. Glad to read above you got your paper check ok. I took a screen shot of my withdrawal and then just held my breath until it showed up in my bank account (did the transfer to checking). They really should email a receipt with confirmation details. It’s been like this for years to my memory. 
Sounds to me like they don't have the software developers to program that functionality.  Don't be surprised to not see many changes to the application.  If we do, then it's just laziness and / or bad programming practices on their part not to develop their software to send email confirmation and update the recent transaction history.

 
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