PrizePicks, the peer-to-peer sports entertainment operator is about to make its long-awaited return to the New York market. The Atlanta-based company announced on Wednesday that it has been awarded an interactive fantasy sports operating license by the New York State Gaming Commission (NYSGC).
“New York is home to some of the most passionate sports fans in the country, and we know they will be excited to have PrizePicks back,” PrizePicks CEO Mike Ybarra said. “We are thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”
The press release did not provide an exact date regarding when PrizePicks will be available again. However, it did include the words “coming weeks.”
Call it the latest big headline from PrizePicks in which future growth is the common theme. In September, it was announced that Allwyn International is acquiring a majority stake in PrizePicks. Allwyn is a lottery-led gaming entertainment company based in Europe.
In February 2024, PrizePicks agreed to cease offering for-money contests in the Empire State. The company also paid the NYSGC $15 million for operating without a license.
PrizePicks has been working closely with state gaming regulators to ensure that its new peer-to-peer platform complies with New York’s strict fantasy sports requirements that were expanded by the Commission in 2023. DraftKings, FanDuel, and Underdog are other DFS brands available to New Yorkers.
“We want to thank the New York State Gaming Commission for their collaboration and recognition of our peer-to-peer offering as a fantasy sports contest,” Jason Barclay, PrizePicks’ Head of Public Policy and Chief Legal Officer, said. “We worked diligently to design a game that meets the Commission’s rigorous standards, and New York’s decision underscores the idea that innovation in fantasy sports can thrive within a clear regulatory framework.”
PrizePicks operates in more than 45 jurisdictions.
No matter which jurisdiction we are talking about, Responsible Gaming remains one of PrizePicks’ main focus areas. Earlier this year, the company was awarded iCAP accreditation by the National Council on Problem Gambling for its RG practices and efforts. PrizePicks is the first and only fantasy sports operator to earn the verification.
The company is upping its game by partnering with Danish firm Mindway to strengthen its player protection efforts. The agreement includes Mindway’s GameScanner AI tool that helps identify signs of problem gambling. This includes monitoring the amount of time and money players are wagering.
Phil Sherwood, Senior Director of Responsible Gaming at PrizePicks, explained how the tool will protect players.
“By enhancing our ability to analyze behavioral data, we’re able to deliver more tailored interventions and promote responsible play tools with greater precision – helping ensure a safer, more sustainable experience for all of our players, “ Sherwood said.
