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In an effort to simplify its operations worldwide, DraftKings has formally closed its daily fantasy sports (DFS) in the United Kingdom. With immediate effect, the decision will prohibit participants from the UK from taking part in any new DFS competitions as the company concentrates on more lucrative areas.
After launching DFS in the UK in 2016, DraftKings has made the decision to completely shut down its activities in Europe. A company community update states that contest entries received by October 3 before 4:30 am GMT would be handled normally. But as of October 4, the website no longer provided fantasy competitions. The remaining monies of UK players can now be withdrawn until June 3, 2025.
This move aligns with DraftKings’ overall strategy to prioritize growth in higher-margin markets, particularly in the United States. With its strong presence in the U.S. sports betting market, DraftKings has chosen to focus its resources on regions where it sees the most potential for profitability and expansion.
Despite its dominance in the U.S. market, where DraftKings controls approximately 29% of the online betting and gaming sectors, the company struggled to replicate this success in the UK and Europe. DraftKings had previously secured licenses to operate in countries like Malta, Germany, Ireland, and Austria. However, these ventures ultimately ended, with the UK being the last European market from which it withdrew.
Not even well-known alliances, such as its link with Liverpool FC, could propel meaningful expansion in the UK. American rival DraftKings faced fierce competition from FanDuel, which likewise had trouble breaking through in the British DFS sector. Less than a year after launching its fantasy sports platform, FanDuel left the market.
From a financial standpoint, DraftKings’ choice to concentrate on its main U.S. market makes sense, but a number of players based in the UK have expressed dismay at the service’s abrupt termination.