Why Draftkings' players feel they were forced to accept settlement offers
Many Draftkings players have already accepted their settlement offers for their Reignmakers collectibles. Did they give up their rights by doing so?
First and foremost: you should certainly consult a lawyer if you have concerns about Draftkings' actions, and nothing published on this or any related web content should be construed as legal advice.
But, for the sake of a general discussion, there is certainly an argument to be made that users were forced to accept their offers under duress.
Why?
Well, let's analyze a hypothetical situation where you have a large portion of your total wealth invested with a specific institution, bank or broker.
Over a period of a few years, you deposit a significant portion of your income with a financial institution.
You are invested in several different types of assets there, with a reasonable expectation of both a cash return on your money at regular intervals and holdings with some long term value.
You wake up one morning and find out that all of your financial institution's products are being closed with no advanced notice, and your positions have all been frozen (you can't liquidate anything).
After a few days the institution offers you a lump sum payment based solely on what is in their best interest.
You are NOT being offered the total amount you invested, and you are NOT being compensated for the full market value of the assets at the time of the closure.
You are also being told that you have a limited time to accept this offer, the offers are "non-negotiable", and you have to relinquish your rights to pursue further action against the institution.
You weigh your options and determine you have none, because you can't afford to pursue legal action on your own, and a large portion of your discretionary funds are being held hostage by the institution you trusted.