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.
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.