There's no automated way to set a color as transparent.

However, try Select > Color Range and choose "Yellows" from the drop down menu. You get some decent results. It's not perfect. But it's then a matter of adjusting levels on the mask a bit and correcting for the color halos, just general refining.

Simple quick mask created after color range selection.... (no refinement)

There's no automated way to set a color as transparent.

However, try Select > Color Range and choose "Yellows" from the drop down menu. Then create a layer mask based on that selection. You get some decent results. 

It's not perfect. But it's then a matter of adjusting levels on the mask a bit and correcting for the color halos, just general refining.

Mask created after color range selection.... (no refinement)