Daily fantasy sports (DFS) operators rarely handle the banking aspects of player deposits and withdrawals in-house. Instead, DFS businesses contract with payment gateways as a financial go-between, and without the banking services of these processors, DFS sites would be unable to function.
One of the transaction firms utilized by some of the DFS sites, Cincinnatei-based Vantiv, has sent an email to their DFS operators instructing them to stop accepting payments from New York state players. The directive was issued shortly after New York Attorney General Eric Schneiderman announced that DFS websites are in violation of NY State’s gambling laws, and delivered cease-and-desist orders to the industry’s largest sites – DraftKing and FanDuel.