DraftKings has pulled its DFS product from the UK market, effective October 4. [Image: Shutterstock.com]

DraftKings has announced that it is withdrawing from the United Kingdom daily fantasy sports (DFS) market, effective October 4, 2024.

In a community update, the company did not provide much information as to why, simply saying: “DraftKings has determined that it is in the best interests of the company to discontinue operations in Great Britain.”

In a statement to EGR Intel, DraftKings added that it was making the move as part of “ongoing efforts to optimize our business.”

contests that had yet to start were canceled and entries were refunded

All live contest entries submitted by 4:30am GMT on October 4 were still eligible to play out as normal. Entries submitted before that time for contests that had yet to start were canceled and entries were refunded.

All DK Dollars, Crowns, and tickets will be converted to cash and deposited into player accounts. Customers are encouraged to withdraw their funds by June 3; after that date, they will have to e-mail DraftKings for help.

DraftKings launched in the UK in February 2016 when it was still primarily a fantasy sports site. While it is still one of the dominant players in the DFS arena, it has become a market leader in sports betting since the US Supreme Court repealed PASPA in 2018.

This leaves DraftKings with no DFS products in the European market. It previously withdrew from Austria, Germany, Ireland, and Malta in January 2022.