PrizePicks has fully transitioned to a peer-to-peer (P2P)-only DFS model in all of its operational US states and territories.
The Atlanta, Georgia-based business has confirmed that it is only offering its Arena product in states which it previously ran its against-the-house pick’em product.
Real-money Arena is now live in 35 states, plus Washington DC and Canada (excluding Ontario).
The game works by users picking between two and six athletes and then predicting if they will be over or under on a stat. Customers can then choose Power Play (where all the picks need to be correct), or Flex Play (where one or two picks in the lineup can lose).
Power Play offers larger payouts, while Flex Play still allows for players to win, even if some of their picks fail to hit.
Lineups are placed into a pool consisting of other PrizePicks players based on “member experience level, number of picks and the time of lineup submission”.
Arena is live in California and Texas, both of which don’t have legalised sports betting, as well as Florida where Hard Rock Bet holds a monopoly.
PrizePicks’ free-to-play game, Streak, is available in 10 US states, including Michigan, New Jersey, New York and Pennsylvania.
The privately owned business has stated that PrizePicks is accessible by more than 90% of the US and Canada, either via Arena or Streak. PrizePicks launched Arena in January 2024.
The against-the-house pick’em contests were heralded as ‘DFS+’ or ‘DFS 2.0’, as opposed to the traditional salary cap formats that made DraftKings and FanDuel household names in the US.
Last week, Eilers & Krejcik Gaming’s EKG Line newsletter suggested the pivot to P2P DFS could make PrizePicks a “more attractive M&A target”.
The team at the boutique analyst firm wrote: “[P2P] pivots have helped DFS+ firms preserve access to states amid negative regulatory change.
“We expect [P2P] GGR mix to rise from ~35% today to >50% by calendar year [20]29, driven by a combination of regulatory change, product innovation and the increasingly competitive DraftKings-FanDuel tandem, who only offer [P2P] DFS+.
“PrizePicks has pursued that [P2P] change more rigorously than rivals – potentially in a bid to make itself an attractive M&A target. Online gambling operators look well-suited as buyers, particularly as listed firms look for new growth with new state launches slowing down.”
A PrizePicks spokesperson said: “On 22 August, PrizePicks announced a full transition to Arena in all states and territories in which we operate.
“We are excited to offer players a more social and engaging DFS product that sets the standard for future innovation in the DFS industry.”
The post PrizePicks ditches against-the-house pick’em for peer-to-peer model first appeared on EGR Intel.
Real-money Arena product is now live in 35 US states, plus DC and most of Canada, with one analyst firm suggesting the pivot could be about creating a “more attractive M&A target”
The post PrizePicks ditches against-the-house pick’em for peer-to-peer model first appeared on EGR Intel.