US sports betting giant DraftKings has shocked fans of its daily fantasy sports (DFS) offerings in Europe by suddenly pulling out of several markets.
The operator notified its customers in Austria, Germany, Ireland, and Malta via an email on Tuesday this week. It said that effective January 22, people physically located in these countries will not be able to deposit or enter DFS contests.
DraftKings confirmed that on Wednesday it will convert all currencies on these websites to US dollars. Customers can still withdraw funds up to that date, but any cash left in accounts after Sunday will be remit to the Malta Gaming Authority. The email also noted the firm’s pride at having being a part of these markets since 2017.
could well spell trouble for the fantasy sports sector non-US.”
Phil Pearson, the CEO of White Label Casinos who first shared the news on LinkedIn, stated that it likely signifies “a big change coming in local licensing for sites.” He added that if DraftKings can’t make it work then “this could well spell trouble for the fantasy sports sector non-US, and even more sportsbooks.”