DraftKings Withdraws Daily Fantasy Sports Product from UK Market
DraftKings, a popular daily fantasy sports (DFS) platform, has announced its decision to withdraw from the United Kingdom market, effective October 4, 2024. The company made this announcement in a recent community update, citing that it is in the best interests of the company to discontinue operations in Great Britain.
While DraftKings did not provide specific reasons for this move, they mentioned that it is part of their ongoing efforts to optimize their business. As a result of this decision, all live contest entries submitted before 4:30am GMT on October 4 will still be eligible to play out as normal. However, entries submitted before that time for contests that had not yet started were canceled, and players were refunded.
Furthermore, any DK Dollars, Crowns, and tickets held by players will be converted to cash and deposited into their accounts. Customers are advised to withdraw their funds by June 3, as after that date, they will need to contact DraftKings directly for assistance.
DraftKings first entered the UK market in February 2016 as a fantasy sports site, but has since expanded to become a major player in the sports betting industry, particularly after the US Supreme Court’s repeal of PASPA in 2018. With this decision to withdraw from the UK market, DraftKings no longer offers DFS products in Europe, having previously pulled out of Austria, Germany, Ireland, and Malta in January 2022.
Overall, DraftKings’ decision to exit the UK market reflects their strategic focus on optimizing their operations and aligning with market trends. While this move may disappoint some UK DFS players, it is part of DraftKings’ broader strategy to enhance their business and adapt to changing industry dynamics.