PrizePicks Acquisition, Valuation, Funding & Investors
PrizePicks was acquired by Allwyn for $2.5B in September 2025.
PrizePicks EBITDA multiple at acquisition
7.4x
EV/EBITDA · Sep 2025
Cumulative funding PrizePicks raised
$900K
across 1 funding round
Key investors in PrizePicks
Phoenix Capital Ventures (PCV)
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Parlay Capital Holdings- Phil Hellmuth
- AMJ Ventures
About PrizePicks
PrizePicks is a leading daily fantasy sports operator in North America, specializing in real-money over/under prop bets on player performances. Atlanta-headquartered, the platform covers NFL, NBA, MLB, NHL, esports, and more across 30-plus states where sports betting remains restricted. Partnerships include the Atlanta Braves, Miami Marlins, and Charlotte Hornets for promotions and jersey patches. Launched in 2018 as part of Performance Predictions, PrizePicks reaches over 60 percent of the U.S. population digitally via prizepicks.com, iOS, and Android apps, positioning it as a primary alternative to full sports wagering in markets like California, Texas, and Florida.
Founded
2015
HQ
Atlanta, GAWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Valuation
$2.5B (acquired Sep 2025)
PrizePicks Acquisition
PrizePicks was acquired by Allwyn for $2.5B on 22 September 2025.
The acquisition price implies a 7.4x EBITDA multiple.
Before the acquisition PrizePicks had raised $900K across 1 funding round.
| Acquirer | Date | Type | Price | EV/EBITDA |
|---|---|---|---|---|
| 22 Sep 2025 | PE buyout | $2.5B | 7.4x |
PrizePicks Funding History
PrizePicks has raised a total of $900K across 1 funding round.
PrizePicks funding rounds
| Date | Stage | Investors | Raised |
|---|---|---|---|
| Jul 2020 | Seed | Phoenix Capital Ventures (PCV) (lead); Parlay Capital Holdings; Phil Hellmuth; AMJ Ventures | $900K |
Who has invested in PrizePicks?
4 investors have backed PrizePicks across its funding rounds, including Phoenix Capital Ventures (PCV), Parlay Capital Holdings, Phil Hellmuth and AMJ Ventures.
Lead investors include Phoenix Capital Ventures (PCV).
PrizePicks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Atlanta, GA | 1 | Lead | Jul 2020 | |
| Parlay Capital Holdings | Atlanta, GA | 1 | Participant | Jul 2020 |
This data is available for Pro users. Sign up to see all 4 PrizePicks investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPrizePicks Competitors
PrizePicks competitors include listed companies like Better Collective and Bally's Intralot, and private ones like Dream Sports, Dream11, Picklebet and Splash Sports.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Mumbai | Private | $723M | - | $5B | 6.9x | |
| Mumbai | Private | $273M | $19M | $8B | 29.3x | |
 Denmark | Publicly listed | $388M | $100M | $693M | 2.4x | |
 Brisbane | Private | $12M | - | $75M | 6.3x | |
| Denver, CO | Private | - | - | $75M | - | |
 Greece | Publicly listed | $597M | $155M | $2.3B | 3.6x |
PrizePicks Public Comps
PrizePicks is no longer listed, but its public comps include Bally's Intralot, Rush Street Interactive, Brightstar Lottery, Genius Sports, Playtech, Tabcorp, Betsson, Cirsa Enterprises, Tsuburaya Fields Holdings and ZEAL Network.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $597M | $155M | 7.0x | 3.6x | 27.1x | 10.4x | |||
| $1.1B | $20M | 2.4x | 1.9x | 139.6x | 12.0x | |||
| $2.5B | $915M | 2.8x | 2.8x | 7.6x | 6.0x | |||
| $669M | ($47M) | 3.6x | 2.6x | (50.8x) | 9.8x | |||
| $879M | ($27M) | 1.8x | 1.7x | (58.7x) | 5.5x | |||
| $1.9B | $283M | 1.0x | 1.0x | 6.6x | 5.9x | |||
| $1.4B | $352M | 0.9x | 0.9x | 3.5x | 4.2x | |||
| $2.7B | $870M | 2.3x | 2.1x | 7.0x | 6.6x | |||
This data is available for Pro users. Sign up to see all PrizePicks competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PrizePicks
| When was PrizePicks founded? | PrizePicks was founded in 2015. |
| Where is PrizePicks headquartered? | PrizePicks is headquartered in Atlanta, GA, United States. |
| Is PrizePicks publicly listed? | No, PrizePicks was acquired by Allwyn in September 2025. |
| Who acquired PrizePicks? | PrizePicks was acquired by Allwyn in September 2025. |
| How much was PrizePicks acquired for? | PrizePicks was acquired for $2.5B in September 2025. |
| How much funding has PrizePicks raised? | PrizePicks has raised $900K across 1 funding round. |
| What was PrizePicks' last funding round? | PrizePicks' last funding round was a $900K seed round in July 2020, led by Phoenix Capital Ventures (PCV). |
| Who are PrizePicks' investors? | PrizePicks' investors include Phoenix Capital Ventures (PCV), Parlay Capital Holdings, Phil Hellmuth and AMJ Ventures. |
| Which companies are comparable to PrizePicks? | Companies comparable to PrizePicks include Dream Sports, Dream11, Better Collective, Picklebet, Splash Sports and Bally's Intralot. |
See companies similar to PrizePicks
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