Allwyn International Acquires PrizePicks to Enter US DFS Market

The US DFS market looks poised for a major shakeup after European lottery powerhouse Allwyn International agreed to acquire a majority in PrizePicks. The transaction, which will see Allwyn gain a 62% stake in PrizePicks, involves an initial cash outlay of $1.6 billion. This can increase up to $4.15 billion if the DFS operator hits certain milestones over the next three years.

A deadline is set for the first half of 2026, when Allwyn International must meet the closing conditions. For the time being, PrizePicks will continue to operate just as it has done. But, with an eye forward, this could be the stepping stone that will take PrizePicks up against the likes of DraftKings and FanDuel.

Allwyn International Buys Majority Share in PrizePicks

Allwyn announced the acquisition on its site, assuring readers that through its scale and resources, PrizePicks will have the support to expand and innovate further, reaching more fans than ever before. The benefits for Allwyn are straightforward. The company, which specializes in European lotteries, most notably including the UK National Lottery, EuroMillions, and Casinos Austria, will now gain a significant entry into the US online sports betting market.

For PrizePicks, who have been looking for buyers since 2024, it is a confident move forward. The DFS operator, which exploded in popularity in the early 2020s, looks set for a new chapter. Allwyn is set to acquire a 62% stake in PrizePicks for $1.6 billion, which may rise to $4.15 billion if certain add-on clauses are met.

Who is Allwyn International

Allwyn International was originally KKCG, a Czech investment company founded by a local entrepreneur, Karel Komarek. The company was created in 1992, and worked in the energy markets of Moravia, Czech Republic, and later Germany, Slovakia, Austria, France, the Netherlands and Great Britain. KKCG entered the lottery business in 2011, becoming the majority shareholder in the Czech lottery firm Sazka a.s. A year later, KKCG bought the remaining shares and became the owner. It also rebranded to Sazka Group, after the lottery.

By 2021, Sazka had shared in the national lotteries in Greece, Italy and Austria, and in 2022 it rebranded to Allwyn International. In that very year, the company announced that it would take over the UK National Lottery from Camelot Group, for the next 10 years (until 2032). Allwyn International already had a foot in the US prior to its pending acquisition of PrizePicks. It is partnered with the Illinois Lottery and Michigan Lottery. But this jump into DFS will mark the start of yet a new era for the Czechia company.

PrizePicks – An Up and Coming DFS Platform

Though PrizePicks has been around since 2015, and has gradually built itself into one of the biggest DFS platforms in the US. PrizePicks has paid and sweepstakes fantasy games that are currently available in 45 US states and DC, as well as across Canada (except Ontario).

The real money fantasy sports games are available in many states, including those where sports betting is not yet legal. For example, California, Florida, and Texas all have real money PrizePicks DFS games. There are some omissions, such as New Jersey, New York, Pennsylvania, Connecticut and Ohio, where only PrizePicks’ Streaks game (free to play) are available. Plus, PrizePicks looks set to launch P2P gaming products soon, expanding its gaming experiences into new territory.

PrizePicks Pick’Em

The DFS operator is arguably most well known for its DFS Pick’Em styled games. This is a type of DFS game in which you have to build lineups, with 2 to 6 player projections – the DFS equivalent of player props. You can pick the players, choose the markets, and then pick either More or Less for your lineups. For example, an NBA bettor may pick LeBron James, Points Scored, and the pick Over 25 points. An NFL sports bettor may choose something like Patrick Mahomes, Passing Yards, and Less than 210 yds.

You put together a lineup from 2, 3, 4, 5 or 6 of these predictions – these are like parlay bets. Then, you pick between Flex Play or Power Lineup. In Power Play, you have to hit all of your player projections, but in Flex, you can still afford to miss one or two picks. Power Play pays out higher, as it requires all picks to hit, and is thus riskier. Flex Play, in sports betting terms, is more like a multi bet, where you can afford to lose 1 or 2 of your wagers and still win, but the payouts are lower than Power Play.

PrizePicks Streak

Streak is a newer product, in which you can make picks every day, with the goal of forming a winning streak. If you can string 2 wins together, you can enter the free 4-pick Power Lineup to win real cash. The longer the winning streak, the greater the prize. And the very top payout is a cool $1 million jackpot. Again, this contest is built on the same principles of building lineups based on More/Less player projections.

PrizePicks P2P

The latest functionality of PrizePicks are P2P format contests, in which you don’t play directly against the house. Instead of getting fixed payouts and prizes based on your lineup performance, your goal in these games is to beat the competition. You submit a lineup, and then it will be matched into a group.

The groups are based on player experience levels, number of picks in the lineup, and when the lineups are submitted. Players are awarded points for how well their lineup fares, and if they can beat the competition in the leaderboards, they will unlock prizes. If multiple users tie in first place, the group prize is split, unless one of the participants got all their predictions right.

PrizePicks Braces for the Future

DFS apps are all the rage in America right now, and they are a worthy alternative to sports betting. In 2025, there has also been a drastic rush to prediction markets, such as Kalshi or the crypto-based Polymarket. Another key trend to follow is the emergence of micro betting platforms, which offer a middle ground between DFS and traditional sports betting products.

Among the DFS platforms, DraftKings and FanDuel still make up the majority of the market. They also take up two thirds of the US sports betting industry. But newer sites like PrizePicks have carved out a place for themselves in America’s growing sports betting and DFS industry. And, with support now from Allwyn International, PrizePicks may just be on the dawn of greater things. It may not reach DraftKings or FanDuel anytime soon, but PrizePicks is perfectly poised to continue its trajectory and give Americans a diverse and exciting range of betting products.