DraftKings suspends DFS operations in Austria, Germany, Ireland and Malta
DraftKings will no longer offer daily fantasy sports (DFS) contests in Austria, Germany, Ireland or Malta from 22 January 2023.
According to an email sent to DFS customers in those countries and seen by iGaming NEXT, players will be prohibited from depositing funds and entering contests in the jurisdictions, and will also need to withdraw all funds from their accounts before the 22 January deadline.
The operator added that as of today (18 January), in-game currencies such as Crowns and DK Dollars, along with any existing contest tickets, will be converted back into US dollars for withdrawal.
Woke up to the bombshell that Draftkings are withdrawing from the Irish market immediately and you’ll no longer be able to play DFS here. 😕 They’re advising to withdraw money ASAP.
You’d have thought they would have waited until the NFL season finishes at least!?
— Mícheál Nagle (@Micheal_Nagle) January 18, 2023
“Following this conversion on 18 January, we strongly recommend you initiate a withdrawal request from DraftKings as soon as possible,” the email read.
“Should any funds remain in your account after 22 January, DraftKings will not be able to process withdrawals and is required to remit any remaining funds in your account to the Malta Gaming Authority (MGA) for customers that were located in Austria, Germany, Ireland and Malta when they registered their account.”
— uglywolf (@uglywolf6) January 18, 2023
DraftKings also requested that any customers who have not made a deposit in the past six months now make an additional €5 deposit into their accounts, “to update [their] linked payment method,” and subsequently process a withdrawal of their full remaining balance.
Customers whose funds are remitted to the MGA should be able to recover them from the regulator.
Several people have taken to social media to comment on DraftKings’ withdrawal from these markets, including new White Label Casinos CEO Phil Pearson on LinkedIn:
Other users of the operator have taken to Twitter to express their dismay at the sudden news.
“Bad news for German DraftKings users and on a very short notice,” one said. “I hope withdrawal works, already contacted support. Very sad I cannot play from Germany anymore.”
On DraftKings’ Q3 2022 earnings call back in November, CFO Jason Park alluded to the operator pulling back from its DFS operations in certain markets this year.
He said: “In 2023, we expect gross margin to improve slightly relative to 2022 as we reduce promotional intensity in more mature states, partially offset by new state launches and continued mix shift out of DFS.”