DraftKings And FanDuel Lose A Payment Processor

Fantasy

As most of us know, DraftKings and FanDuel have recently taken some pretty big losses in the fantasy sports world. Well, add another loss to the books. Both DraftKings and FanDuel have just recently lost their biggest payment processor known as Vantiv. Due to all the recent issues pertaining legality, Vantiv has decided to drop the two online fantasy football gambling sites. If legal actions are pursued against FanDuel and DraftKings, Vantiv will be held liable for its client’s actions as well. In this specific case, Vantiv is taking precautionary measures, and dropping its client’s early to avoid running into the legal problems down the road.

fandue

FanDuel and DraftKings have exactly one month to find a new payment processing company, or the company will no longer be in operation. Both companies are going through issues similar to the marijuana industry. Banks fear working with the legal marijuana distributers in fear of eventual prosecution. With all of the recent questions pertaining to the legality of their fantasy gambling operations, it appears that DraftKings and FanDuel are on their way out the door sooner than later.

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One thought on “DraftKings And FanDuel Lose A Payment Processor

  1. Although there is a fair amount of hurdles currently facing these companies, there are a few things that have to be considered. With the explosive rise in the NFL in general, coupled with the meteoric growth of fantasy football, will these sites ever really go away? The thing is, people want what they want, and if enough people want it, they usually get it…eventually. You have to wonder, if these two sites go away, who says 4 more like them don’t just pop up? and what about sites like Yahoo.com, which now offers a FREE service to COLLECT and TRACK payment of league dues for private, personal fantasy football leagues. If these two sites are doing something illegal, I feel like it’s only a matter of time until Mr. legal USA comes sniffing around elsewhere in the fantasy football world.

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