{"id":629,"date":"2025-08-20T17:03:10","date_gmt":"2025-08-20T17:03:10","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=629"},"modified":"2025-09-22T12:09:51","modified_gmt":"2025-09-22T12:09:51","slug":"prizepicks-could-be-positioning-itself-for-sale-valuation-may-be-2-billion","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/08\/20\/prizepicks-could-be-positioning-itself-for-sale-valuation-may-be-2-billion\/","title":{"rendered":"PrizePicks Could Be Positioning Itself for Sale, Valuation May Be $2 Billion"},"content":{"rendered":"<ul>\n<li><strong>DFS operator\u2019s move to PVP model could be attractive to suitors<\/strong><\/li>\n<li><strong>Online betting firms could kick to the tires on PrizePicks<\/strong><\/li>\n<li><strong>Rival Underdog Fantasy\u2019s recent valuation could be boon for PrizePicks<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Daily fantasy sports (DFS) operator PrizePicks has largely shifted to a player vs. player (PVP) model &#8212; a move that preserves its access to some of the largest states and one that could position the company to be a takeover target.<\/p>\n<figure id=\"attachment_360595\" aria-describedby=\"caption-attachment-360595\" data-style=\"width: 1200px\" class=\"wp-caption alignright\"><img loading=\"lazy\" class=\"wp-image-360595 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"PrizePicks\" width=\"1200\" height=\"676\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/08\/PP.png\"><figcaption>A PrizePicks logo. The company could be ready to sell itself. (Image: <em>Sporting News<\/em>)<\/figcaption><\/figure>\n<p>In a report out Wednesday, Eilers &amp; Krejcik Gaming (EKG) notes PrizePicks \u201chas pursued that PVP change more rigorously than rivals\u2014potentially in a bid to make itself an attractive merger and acquisition target.\u201d Under the PVP format, DFS players compete against each other rather than against the house &#8212; a relevant distinction at a time when some states, <a href=\"https:\/\/www.casino.org\/news\/california-ag-rob-bonta-promises-dfs-crackdown\/\">including California<\/a>, are cracking down on player vs. house DFS games.<\/p>\n<p>Some state <a href=\"https:\/\/www.casino.org\/news\/california-ag-declares-dfs-illegal-gov-newsom-begs-to-differ\/\">regulators have upped scrutiny<\/a> on the traditional DFS model, implying it\u2019s another form of sports wagering, indicating PrizePick\u2019s move to the PVP format was shrewd.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>The operator now offers player vs player (PVP) formats to ~55% of the US,\u201d notes EKG. \u201cNewer PVP formats like PrizePicks Arena put customer selections into a tournament structure, with top scorers getting paid out.\u201d<\/p>\n<\/blockquote>\n<p>The research firm points out that PrizePicks currently offers player vs. house DFS in just three states &#8212; North Carolina, Texas, and Virginia.<\/p>\n<h2>PrizePicks Moving to Seller From Buyer?<\/h2>\n<p>PrizePicks says it\u2019s the largest DFS company in North America, and that assertion could be credible because the operator and some of its rivals <a href=\"https:\/\/www.casino.org\/news\/prizepicks-raises-850000-hellmuth-among-new-investors\/\">found avenues for gaining business<\/a> from DraftKings and FanDuel \u2014 the forefathers of the DFS industry.<\/p>\n<div class=\"callout\">\n<p>An interesting point about the rumor floated by EKG is that PrizePicks is barely more than a year <a href=\"https:\/\/www.casino.org\/news\/prizepicks-hires-bank-to-scout-for-acquisition-opportunities\/\">removed from hiring<\/a> investment bank Moelis &amp; Co. to evaluate acquisitions for the company, indicating it\u2019s potentially moved from buyer to seller in short order.<\/p>\n<\/div>\n<p>The research firm didn\u2019t mention specific companies that could be interested in acquiring PrizePicks, but it did use the term \u201conline gambling operators\u201d to describe potential suitors, adding that \u201clisted firms\u201d are looking for growth.<\/p>\n<p>That\u2019s sensible because sports betting isn\u2019t legal in big states such as California, Texas, and Georgia, and Florida has a sports betting monopoly controlled by Hard Rock. That could signal interest in PrizePicks, assuming the company maintains its access to the most attractive states.<\/p>\n<h2>Underdog Valuation Could Be Template for PrizePicks<\/h2>\n<p>PrizePicks rival Underdog Fantasy <a href=\"https:\/\/www.casino.org\/news\/underdog-valued-at-1-23-billion-following-latest-funding-round\/\">was valued at $1.23 billion<\/a> following a $70 million March funding round, and that could be instructive for PrizePicks and its prospective suitors.<\/p>\n<p><strong>EKG said the valuation on Underdog could put the multiple on PrizePicks at $2 billion &#8212; a price point that would likely be palatable to an array of suitors.<\/strong><\/p>\n<p>Investors in Atlanta-based PrizePicks include poker legend Phil Hellmuth, former NBA player Andrew Bogut, and former Atlanta Braves star Andruw Jones. Professional investors in the firm include Parlay Capital Holdings and Phoenix Capital Ventures.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/prizepicks-may-be-readying-sale-valuation-could-be-2-billion\/\">PrizePicks Could Be Positioning Itself for Sale, Valuation May Be $2 Billion<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DFS operator\u2019s move to PVP model could be attractive to suitors Online betting firms could kick to the tires on PrizePicks Rival Underdog Fantasy\u2019s recent valuation could be boon for PrizePicks Daily fantasy sports (DFS) operator PrizePicks has largely shifted to a player vs. player (PVP) model &#8212; a move that preserves its access to some of the largest states [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/629"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=629"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/629\/revisions"}],"predecessor-version":[{"id":632,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/629\/revisions\/632"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/631"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=629"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}