Daily Fantasy

Report: Vantiv Will Stop Processing Payments for DraftKings & FanDuel

By February 4, 2016 No Comments
DraftKings and FanDuel Football Advice

The New York Times reported on January 29, 2016 that major payment processor Vantiv would no longer work with DFS companies FanDuel and DraftKings.

ESPN's Darren Rovell reported that DraftKings counsel says it hasn't been told by payment process Vantiv it's exiting the business. He also says they can't.

FanDuel issued the following statement about the media reports:

There are media reports that Vantiv will stop processing payments on our site. While we cannot comment on Vantiv’s decision, we want our users to be aware that there are many other payment processors available, as well as PayPal, and this decision will not impact their ability to play on FanDuel, withdraw funds or have any other impact on the user experience.

The NYT report said Vantiv would "suspend all processing for payment transactions starting Feb. 29." This is an important piece from the NYT report:

“As you are aware, an increasing number of state attorneys general have determined that daily fantasy sports (‘D.F.S.’) constitute illegal gambling,” Jonathan Ellman of Vantiv.com wrote in a letter obtained by The New York Times. “Although in recent weeks D.F.S. operators have raised numerous arguments to the contrary, to date those arguments have been unsuccessful and/or rejected.”

If Vantiv does follow through, that would leave PayPal as one of the major names still processing payments with DraftKings and FanDuel.

At this point in time, DraftKings won a lawsuit against Vantiv that requires them to continue processing payments. Vantiv has asked a NY court to evaluate whether they should be compelled to do business with DraftKings.

While DFS has come under fire in some states and has been welcomed in others, we still have to wait and see on NY. Rest assured, your payments are good to go on DK and FD...for now.

Nick Schreck

I’m a simple man with simple pleasures. As someone who’s always approached life with the attitude that things could be worse, I’ve had an awesome time so far. I've been a fantasy addict for nearly a decade, and I've loved every second of it.

For the record, I never actually played football. I have no doubt that I would get crushed running across the middle for a pass, every single time.
Nick Schreck