DraftKings, Most Profitable Gambling Site in America, Shuts off Operations in Europe
Currently going through a period of restructuring, DraftKings, the most successful gaming company in the United States, is ending its activities in Europe.
Amid continuous attempts to simplify and streamline the company’s operations, DraftKings has decided to discontinue its daily fantasy sports (DFS) activities in the United Kingdom. Players will no longer be able to enter new competitions as a result of the decision, which takes effect immediately.
European Business of DraftKings Ends
Since 2016, DraftKings has run daily fantasy sports in the United Kingdom. However, the business is ending its activities in Europe as it goes through a phase of restructuring.
Live contest entries filed before October 3 were resolved normally, according to a community update from America’s most lucrative gambling platform, which claimed 31% of U.S. gaming revenue in the third quarter of 2023, making them the toppers among betting sites in dollars. The company formally closed its fantasy contests on October 4, giving players until June 3, 2025, to take their money out.
This has been in line with DraftKing’s overarching plan to maximize its operations while concentrating on generating growth and value in important higher-margin regions.
DraftKings has been concentrating more on its operations in the US, where it has solidified its position as one of the two dominant betting companies – the other one is FanDuel. With its departure from the UK, DraftKings has completed its European exodus and ceased operations on the continent.
To put things in perspective, DraftKings had already obtained licenses to provide DFS material in Austria, Germany, Ireland, and Malta. However, six years later, DraftKings swiftly shut down its DFS activities in all regions outside the UK and wound down its European company.
DraftKings Unable to Match its US success in UK
One of the two largest sports betting companies in America, DraftKings, has expressed confidence in growing its local market share and surpassing FanDuel. The majority of the US market is essentially controlled by these two gambling operators.
Official research claims that DraftKings controls more than 29% of the online gaming and betting sectors in the United States. The firm has recently introduced its mobile betting solutions in Washington, DC, and 25 other US jurisdictions.
However, DraftKings was unable to duplicate its American success in Europe. The operator had trouble luring players in spite of its affiliation with Liverpool F.C., one of the most well-known teams in British football. FanDuel, the American competitor of DraftKings, attempted to enter the British DFS market as well but changed its mind less than a year after creating a local fantasy sports platform.
Although it makes sense for DraftKings to want to focus more on the USA, the decision disappointed a lot of British customers.
