Allwyn has cemented its standing in the B2C side of the American betting, gaming and entertainment spaces by completing its majority acquisition of PrizePicks.

The Swiss-based firm is now the full owner of 62.3% PrizePIcks shares, equating to a stake of just under $1.6bn – though it is still subject to some post-closing adjustments and does not include certain performance-based earnouts.

Terms of Allwyn’s majority stake in PrizePicks were first inked back in September 2025 in a deal which valued the American daily fantasy sports (DFS) platform at around $2.5bn. 

Prior to the accusation, Allwyn was active in the US but its operations there were largely B2B, alongside its contract to manage the Illinois state lottery.

“We are excited to support and participate in the next phase of PrizePicks’ growth,” said Robert Chvatal, CEO of Allwyn.

“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.”

Allwyn’s stake in predictions

The acquisition of PrizePicks has established Allwyn as one of the world’s most dominant gambling PLCs – it is now the second largest gambling PLC globally after Flutter Entertainment and the largest listed lottery company in the world.

This status was later reaffirmed by Allwyn’s merger with OPAP, the operator of the Greek national lottery and a major sports betting company in the Mediterranean country. Allwyn and its parent firm KKCG already maintained a stake in OPAP prior to this.

Since terms were agreed for a majority takeover, PrizePicks has continued to focus on product development and expansion into new areas. The firm is already one of the two biggest DFS platforms in the US, alongside Underdog Sports.

It now has new horizons on its mind, however. Almost immediately after Allwyn acquired its majority stake in PrizePicks, the DFS platform began taking the necessary regulatory steps to enter the US predictions markets space, and in November it penned deals with Kalshi and Polymarket to launch its own predictions platform.

As predictions are regulated by the Commodity Futures Trading Commission (CFTC), PrizePicks is effectively able to operate this product nationally. 

The firm has taken its Team Picks, a sports team-based outcome form of predictions very similar to conventional win/lose sports betting markets, live in 30 states and the District of Columbia. It also has a ‘Culture Picks’ product, focusing on entertainment and cultural events.

Mike Ybarra, CEO of PrizePicks, added: “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.”