Allwyn Completes $1.53B PrizePicks Deal

Allwyn has taken another decisive step in its push to expand its global reach after acquiring a majority share in daily fantasy sports operator PrizePicks. The deal gives the lottery giant a 62.3% holding in one of North America’s fastest-growing sports entertainment brands, marking a significant expansion of Allwyn’s footprint in the United States.

PrizePicks Commands an Expansive Portfolio

The deal, valued at at $1.53 billion excluding performance-based earnouts, was completed without PrizePicks carrying any outstanding debt. For Allwyn, this significant financial investment underlines the company’s broader strategy to diversify beyond traditional lottery operations and enhance its presence in promising digital verticals. 

This investment advances Allwyn’s strategy to build a diversified global entertainment platform.

Robert Chvatal, Allwyn CEO 

PrizePicks has established a robust foothold in the US market by focusing on simplified, mobile-friendly fantasy sports products. Since the deal with Allwyn was announced in September 2025, PrizePicks has continued its aggressive expansion, launching its regulated prediction market offerings in November. That move allowed PrizePicks to reach nearly all US states, significantly enhancing the visibility of its offerings.

Allwyn’s global scale, operational expertise, and long-term approach make them an ideal partner as we continue to grow and evolve.

Mike Ybarra, PrizePicks CEO

Recent product launches underline the company’s ambitions. Team Picks focuses on team-based outcomes rather than on individual athlete performances. Culture Picks, another new feature, allows users to make predictions tied to entertainment and cultural moments. These additions underscore PrizePicks’ ambitions to expand beyond sports and reach new audiences.

Allwyn Seeks to Become a Global Gaming Powerhouse

According to Allwyn, PrizePicks’ technology platform and approach to responsible play were central to the deal. PrizePicks’ registration as a Futures Commission Merchant with the National Futures Association also gives it much-needed credibility. The two companies have a shared focus on compliance and player protection. Such areas are especially critical as US regulators remain apprehensive regarding emerging gaming formats. 

The partnership aims to preserve PrizePicks’ successful business model. The company’s leadership team will remain in place as Allwyn seeks to avoid heavy-handed integration. Allwyn’s international exposure in regulated gaming, data, and responsible play will complement PrizePicks’ product innovation and customer engagement, hopefully delivering sustained growth.

The acquisition aligns with a period of corporate activity for Allwyn. Alongside the PrizePicks deal, the company recently made progress in its plans to merge with Greek gaming operator OPAP. The proposed union, valued at around EUR 16 billion ($18.76 billion), has received shareholder approval and is expected to strengthen Allwyn’s position across Europe.