Tue, Aug 1, 7:58am by Staff Writer
Daily fantasy sports (DFS) heavyweight FanDuel has exited the UK market after one season, to focus its commercial growth on its core US market.
This past Friday, members of the FanDuel UK site were sent emails detailing the shutdown of the site. The email stated that the UK-facing site’s exit from the country might not be permanent one.
FanDuel.co.uk also confirmed the move via twitter and a company spokesperson said that all players will be refunded, should they have any monies left in their accounts.
After being in operation for less than a year in the UK, the timing is interesting, given that the 2017/18 EPL season is due to start in just under two weeks’ time, on August 12.
The company launched its UK-licensed offering in August 2016, three months before agreeing to merge with rival DFS operator DraftKings, which remains active in the UK market.
That merger was called-off, as the pair would not be approved by the US Federal Trade Commission – FTC, which estimated that the combined entity would control 90 per cent of the US daily fantasy sports market, to the possible detriment of consumers.
According to several business news sources, FanDuel will now prioritise home market growth on US soil above international expansion, as the company enters a crucial period ahead of the start of the 2017/18 NFL season, which kicks off on September 8.
According to the operator, customers in the UK won close to £1m (AUD $1.3 million) in their first year of operations, which is extremely low compared to the US, which pays out twenty-times that figure on its NFL games alone.
The American offering has more than one million registered users, and was valued at over $1 billion in July last year.
In the UK, gamblers have more access to single game sports wagering, while in the US, players are quite limited on sports betting options, which could be a reason for the success of DFS.
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