PrizePicks, a major US-based daily fantasy sports (DFS) platform, is now owned by Allwyn.
Still subject to post-closure agreements, the transaction puts Allwyn in charge of 62.3% of PrizePicks shares, or close to $1.6bn in value – with chances of that value going higher thanks to certain performance-based adjustments.
Robert Chvatal, CEO of Allwyn, commented: “We are excited to support and participate in the next phase of PrizePicks’ growth.
“This investment advances Allwyn’s strategy to build a diversified global entertainment platform and significantly strengthens our presence in the United States.
“I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world.”
Now officially a B2C provider in the US, Allwyn primarily had a B2B business profile across the pond prior to the majority stake acquisition, which was first agreed upon in September last year when PrizePicks held a value of approximately $2.5bn.
Mike Ybarra, CEO of PrizePicks, said: “Today marks a defining moment for PrizePicks. Allwyn’s global scale, operational expertise, and long-term approach make them an ideal partner as we continue to grow and evolve.
“Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
PrizePicks is one of the two largest daily fantasy sports platforms in the US, the other one being Underdog Sports. Already impressive on its own, the backing from an international company such as Allwyn gave PrizePicks drive to expand even further.
The DFS platform has gone into a crouch start position, looking at tackling the huge US predictions market space that is currently dominated by Kalshi and Polymarket. This would expand Allwyn’s reach into North America even further.
However, detached from PrizePicks’ success running towards new horizons, Allwyn has already established itself as a true behemoth on the global stage. This is due to another recent major deal where Allwyn initiated a merger with Greek gambling and lottery operator OPAP.
The merger is expected to be completed in H1 2026, with the new entity continuing to operate under the Allwyn brand. This essentially makes Allwyn the largest listed lottery company in the world, and the second-largest gambling PLC only after Flutter Entertainment.