DraftKings has officially ended its daily fantasy sports (DFS) operations in the UK, completing its withdrawal from the European market.

The company had been operational in the UK with its DFS product since 2016 but struggled to gain significant traction compared to its dominance in North America.

DraftKings ceased its UK DFS operations on 4 October, and players have until 3 June 2025 to withdraw any remaining funds. 

In-game currencies, such as Crowns and DK dollars, will be converted to US dollars for payout after the closing date.

Highest growth potential

The decision is part of a broader strategy to prioritise resources where the company sees the highest growth potential. 

“DraftKings has determined that it is in the best interests of the company to discontinue operations in Great Britain,” the company said in a community update.

When contacted by NEXT.io, a DraftKings spokesperson confirmed that the market exit is part of the company’s “ongoing efforts to optimise” the 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 US sports betting,” the spokesperson added.

The operator’s exit from the UK follows similar moves across other European markets. 

In early 2023, DraftKings announced its DFS withdrawal from Austria, Germany, Ireland, and Malta. 

CEO Jason Robins recently announced the company’s updated financial outlook, raising its FY2024 revenue guidance to $5.15bn, up from $4.90bn. 

Robins said: “We anticipate the healthy customer acquisition environment to continue through the back half of the year and possibly beyond, which may indicate the US online gaming opportunity to be even larger than we previously thought.”

“Our business fundamentals are very healthy, and we are excited about the second half of 2024 and beyond.”

DraftKings’ DFS roots

DraftKings has its entire foundation rooted in daily fantasy sports. 

Founded in 2012 by friends and co-workers Jason Robins, Paul Liberman, and Matt Kalish, the company emerged during a time when sports betting was illegal in the United States.

Starting as a small startup, DraftKings quickly transformed into an internationally recognised brand, pioneering the DFS market and revolutionising how fans engage with sports. 

Over the years, the company has broadened its platform to encompass a variety of betting and gambling options.  

According to analyst at JMP Securities, DraftKings held 37.8% of the total US online gaming market in July.

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