Another company is eyeing up growth in the UK prize draws sector, PrizeKings, though the firm’s ambitions expand far beyond British shores.
The trading name of Lancashire-based Winrz Ltd, established in 2024 according to Companies House, PrizeKings has secured new investment to support its international vision.
Vyking Ventures, the investment arm of Cyprus-based online gaming technology company Vyking, has invested an undisclosed amount in the company.
PrizeKings states that it is going to use this to support its ambitions in South Africa and the UK.
“From the beginning, PrizeKings has been built around trust, transparency, and execution,” said Nick Batram, co-founder of PrizeKings.
“We are not interested in short-term noise. We are building prize draw platforms that can stand up to scrutiny, deliver exceptional experiences, and create real value in the markets we enter.
“Vyking Ventures understands gaming, technology, and scale, which makes them a strong strategic partner as we continue to grow PrizeKings across the UK, South Africa, and future markets.”
Prize draws have grown considerably in popularity internationally, but like many emerging products and markets this has attracted some degree of regulatory scrutiny and pushback from existing industry stakeholders.
In the UK, for example, lotteries have been calling for prize draws to be regulated in the same way they and other gambling platforms are. Prize draw operatorslike RaffleHouse and Omaze have pushed back against this.
Nonetheless, despite some regulatory discussions here and there, stakeholders still see the UK prize draw market as having a lot of potential. Vyking’s investment in PrizeKings comes just two months after a newcomer joined the scene, DrawHouse.
In Vyking’s case, the firm clearly sees opportunity in the UK prize draw sector while also identifying synergies with PrizeKings such as its leadership’s experience of building, scaling and operating in regulated environments.
“PrizeKings represents exactly the kind of business Vyking Ventures was created to support,” said Klaus Walsberger, founder of Vyking.
“The team combines deep gaming experience with a clear understanding of how to build trusted, technology-led entertainment products.
“Prize draws are becoming a more professional, scalable, and locally relevant category, and PrizeKings has the leadership, platform, and operational mindset to help lead that next phase of growth.”