DraftKings halts UK daily fantasy sports operations, converts in-game currencies to USD

DraftKings has officially shut down its daily fantasy sports (DFS) offering in the United Kingdom as of October 4, 2024. The decision was communicated to users via email, notifying them of the immediate closure and providing instructions for withdrawing the remaining funds. Any in-game currencies, such as Crowns and DK Dollars, will be converted into U.S. dollars for affected customers.

The email to users read: "Since DraftKings’ launch in Great Britain, we have been proud to be a part of the country’s passionate sports and daily fantasy sports fanbases.” The company assured users that they would be able to access their funds after the product was withdrawn.

In response to inquiries, a DraftKings spokesperson said the move is part of ongoing efforts to optimize the company’s business. 

"We are grateful to all our customers across Great Britain and are committed to ensuring a smooth transition. Moving forward, we will continue to focus on growth and delivering value in other key markets, including U.S. sports betting," the spokesperson added.

DraftKings first entered the UK market on February 5, 2016, following the issuance of a pool-betting license by the Gambling Commission. Its introduction brought the U.S. style of daily fantasy sports to British users, offering competitions based on the NFL, NBA, golf, and UK football leagues. To promote its launch, DraftKings signed a sponsorship deal with Liverpool Football Club, marking its initial push into the UK sports scene.

In an effort to grow its presence, DraftKings later acquired the player database of the free-to-play DFS platform TransferKings in June 2016. At the time, former DraftKings Chief International Officer Jeffrey Haas commented: "We want to expand our audience in the United Kingdom, and this is an effective way to reach an even larger group of passionate fantasy football fans."

The UK market was one of the first international expansions for DraftKings, which subsequently moved into countries such as Malta, Germany, Austria, and Australia in 2023. However, despite efforts to establish itself in the UK, the DFS product failed to gain lasting traction.

The closure of DraftKings' UK DFS operations comes after other major players, such as Yahoo and FanDuel, similarly exited the UK market in previous years. FanDuel's product only lasted a few months in 2016, while Yahoo withdrew in May 2018. Today’s announcement has left UK DFS players with limited options, a fact that some users expressed disappointment about on social media platforms like Twitter.

While the London office established by DraftKings remains operational, it now primarily serves as a hub for data science teams rather than supporting DFS activities. Going forward, the company is expected to focus its efforts on U.S. markets, particularly in sports betting, as it continues to streamline its global operations.