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FanDuel’s Exit from UK Market | Up The Hammers UK

FanDuel’s Shock Exit from UK Market

FanDuel are well known as a web-based fantasy sports operator across America. The entire culture of Yahoo’s own DFS website is a much bigger deal in the States than it is in the UK, with NY-based FanDuel and Boston-based DraftKings leading the industry.

FanDuel have been in the UK for just a year, and the company have stated that they will withdraw operations from the UK to focus in on their US business, which is not in any trouble whatsoever. A company spokesperson said, “As we approach the NFL season, we are allocating all of our resources towards ramping up a US product that consumers love and building out complementary fantasy sports products. There are over 53 million people playing fantasy sports in the United States and we are investing all of our resources on that market.”

DFS in the UK

Daily Fantasy Sports is a popular form of gambling, and FanDuel only entered the UK market in 2016, obtaining an operating license from the UK Gambling Commission, in the hopes of entering the market of online gambling in a similar way to UK online casinos. Any DFS company who wants to offer their gambling services in the UK must apply for a sports betting licence, proving that they are ready to comply with UK regulations.

Even previously to their UK entry, the company have had international offices in Edinburgh, making the UK an obvious choice as they prepared to go global. However, their exit now means that the DFS industry in the UK is left to DraftKings, as well as Yahoo’s own DFS website, too. Neither of these big names seems poised to go anywhere for the moment.

Leaving the Door Ajar

But are FanDuel gone for good? If I were one of the competitors, I wouldn’t be relaxing so quickly. In the emails which the company sent to their UK users, as well as the message displayed on their local website, the operator may have been hinting towards the exit being temporary. A tweet from the FanDuel account even said plainly that they hope to be back in the future.

Also in the message, FanDuel explained that customers with remaining money in their user accounts should expect to see their credit returned to their UK bank accounts, or the bank card which they had used most recently to take part.

This exit, from the second largest global DFS organisation comes at an interesting time for sports, just as the Premier League is starting up. And while DraftKings seems more committed than ever to international expansion, it does look a lot like FanDuel consider their own move to the UK a bit ill-thought out.

 

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