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Interactive


DAILY FANTASY SPORTS IN EUROPE


What does FanDuel's 'Brexit' mean for DFS in Europe?


Oulala’s Valery Bollier judges the impact of the decision by FanDuel to exit the UK Daily Fantasy Sports market once its planned merger with DraftKings fell apart in the United States


I have received numerous questions recently regarding the way FanDuel's ''Brexit'' may affect the Daily Fantasy Sports (DFS) sector in Europe.


Valery Bollier, Co-founder and CEO, Oulala


Valéry Bollier has over 13 years of experience in the iGaming industry. He is a regular speaker at industry conferences and seminars, as well as a contributor to various B2B publications. Equipped with a passion for Daily Fantasy Sports (DFS) and ''Big Data'', Bollier is the co-founder and CEO of Oulala, a revolutionary fantasy football game which was launched four years ago.


It is known that FanDuel is currently short on funds and is presently working on ways to raise their capital. As a result, they are faced with no other option but to halt their internationalisation


P126 NEWSWIRE / INTERACTIVE / 247.COM


Naturally, I am sympathetic towards the departing DFS giant, however it would be ill- advised to leap to a market conclusion as a result of a corporate issue.


FanDuel arrived at the decision to exit the UK market once it became evident that the merger between FanDuel and DraftKings was not going to materialize. With the merger process being blocked by federal regulators, the world’s biggest pair of DFS companies had no choice but to call it off.


So, why FanDuel decided to enter the UK market in the first place? Expanding into the international markets was the next logical step for both, FanDuel and their rival, DraftKings. Te UK appeared to be the perfect target for various reasons, despite both operators having to apply for a gambling licence (the latter went on to cause a rather heated commotion in the US due to the ongoing debate on whether DFS can be considered a game of skill or not).


It is known that FanDuel is currently short on


funds and is presently working on ways to raise their capital. As a result, they are faced with no other option but to halt their internationalisation (and likely be forced to execute a serious reduction in their work force imminently if they do not raise money quickly) by pulling out of the UK with less than a year under their belt, releasing an official statement affirming that ''they hope to be back in the future.'' Tus far, FanDuel has not elaborated any further or provided any timeline for when they plan to return, however, I think If they were to raise $100M by tomorrow, they would undoubtedly be back in Europe immediately.


Te other question that now stands is whether FanDuel's ''Brexit'' is considered a blow to the DFS sector in Europe. Should this be considered an indication that DFS will never work in Europe


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