Vantiv Entertainment Solutions, a payments processor for daily fantasy sports sites DraftKings and FanDuel, told the companies this week it would stop processing wagers and payouts and would exit the space amid rising legal tensions, according to The New York Times. It’s unclear what percentage of total payments Vantiv processes for DraftKings and FanDuel, which control more than 90 percent of the daily fantasy sports market. However, Vantiv’s exit illustrates the mounting toll the companies face as numerous states continue to designate the activity illegal online gambling.
Daily fantasy sports is a hyper-accelerated form of wagering money on sporting outcomes dependent on the performance of real athletes. Because players don’t have…
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