DraftKings and FanDuel abandon dream sports merger

13 July 2017

Fantasy sports websites DraftKings and FanDuel have actually abandoned a plan to combine, less than a month after US competitors regulators looked for to obstruct the bet9ja's welcome offer.

The bet9ja's welcome offer would have created a company with control over 90% of the yohaig code marketplace for paid, everyday dream sports contests, federal government authorities said.

The firms stated the deal would result in higher financial investment, supplying benefits for consumers.

They stated they would now aim to grow separately.

FanDuel started in Scotland in 2009 and is now based in New York. It is number 2 in the US for paid daily fantasy sports contests behind DraftKings, which began in Boston in 2012.

Fantasy sport company FanDuel warns of risk from US policies

The two firms specialise in a subset of dream sports, in which fans pick players to create teams for single video games, instead of the season, with the potential to win prize money based upon the outcome.

In November, they stated they had agreed to merge. Terms were not divulged.

At the time, they said the deal would enable them to integrate forces on regulative problems raised by US regulators, who had compared the market to prohibited gambling and banned the websites in some states.

Nigel Eccles, head of FanDuel, stated it made good sense to move forward individually.

"There is still huge, untapped market chance for FanDuel, and we will continue to perform our strategy to grow our company and more expand the fantasy sports market," he stated in a statement.

Draft Kings president Jason Robbins also stated ending the merger would allow the firm to "singularly focus" on growth, including worldwide.

Last year there were an estimated 57 million fantasy sports gamers in the US alone.