PrizePicks is currently majority-owned by Allwyn International AG, a global lottery and gaming company based in Europe, while the original founders and leadership team still retain a significant minority stake.

Current ownership snapshot

  • Allwyn has agreed to acquire about 62.3% of PrizePicks for an initial cash consideration of around $1.6 billion , implying an upfront enterprise value of about $2.5 billion for PrizePicks.
  • The deal structure includes potential additional performance-based payments that could raise the overall valuation to over $4 billion if certain targets are met over the next few years.
  • The transaction is expected to fully close in the first half of 2026, but the definitive agreement and ownership terms are already publicly announced.

Role of Allwyn and leadership

  • Allwyn is a large lottery-led gaming entertainment company that operates major lotteries across Europe and in Illinois in the United States.
  • PrizePicks will continue to operate as a standalone brand within Allwyn, keeping its own product, app, and player-facing identity even under majority ownership.
  • The existing executive team remains in charge of day-to-day operations, with the company positioned as Allwyn’s primary fantasy sports and skill-based gaming arm in North America.

Founders’ and executives’ stake

  • PrizePicks was founded by Adam Wexler (through SidePrize/Performance Predictions LLC), and the company grew into one of the largest daily fantasy sports operators in North America.
  • Under the Allwyn deal, the CEO and leadership team retain the majority of their existing ownership interest, meaning they still own a meaningful minority stake even after Allwyn becomes the majority owner.
  • Adam Wexler remains on the Board of Directors, helping guide strategy alongside Allwyn’s representatives and the current management team.

Simple answer for “who owns PrizePicks?”

  • Legal/majority owner: Allwyn International AG (about 62.3% stake, subject to closing).
  • Remaining ownership: PrizePicks’ founders, executives, and existing shareholders hold the rest as a minority stake and continue to run the business as a standalone brand under the Allwyn umbrella.

Information gathered from public forums or data available on the internet and portrayed here.