PrizePicks has partnered with investment bank Moelis & Co to explore potential M&A opportunities, according to industry sources.
PrizePicks stands out in the DFS space with its unique approach to betting. Unlike traditional DFS platforms where users draft entire teams, PrizePicks allows users to predict wins and losses based on individual player statistics and fantasy scoring. PrizePicks has recently returned to several regulated markets, which may help enhance its viability and sustainability.
DraftKings and FanDuel are two of the biggest contenders in the DFS market, and they offer a wider variety of contests, including major tournaments and head-to-head contests.
They also offer a wealth of statistics and features to help users build their ideal team, and their platform covers over 44 states, making them the most widely used DFS option.
The rumors come as PrizePicks continues to navigate a complex regulatory environment for DFS and so-called DFS+ operators across the United States.
The DFS industry has been marked by rapid growth and evolution, with more and more companies looking to take advantage of the growing popularity of sports betting.
