PrizePicks Announces Partnership With Prizeout, Becomes Gaming's First DFS Operator to Address Multi-Billion Dollar Challenge of Fulfillment

ATLANTA, March 23, 2021 /PRNewswire/ -- PrizePicks, the largest independently owned Daily Fantasy Sports (DFS) operator, today announced a partnership with leading withdrawal marketplace Prizeout that will allow PrizePicks members to convert their winnings to digital currency, access it faster and at a higher value and then spend with a variety of leading retailers and brands. It's the first such relationship between a DFS operator and a withdrawal marketplace such as Prizeout.

Launched in 2019, Prizeout is a first-in-class solution servicing industries ranging from gaming to payroll solutions that allows consumers to withdraw funds via gift cards at premium rates to brands such as Domino's Pizza, DoorDash and Williams Sonoma. With an estimated $10 billion withdrawn through online gaming in the United States each year, Prizeout's average user offering of 11% more value on every cashout constitutes a $1 billion opportunity space for consumers in gaming alone.

"The last thing any platform wants to do is dampen a dynamic customer experience on backend fulfillment," said PrizePicks CEO Adam Wexler. "Prizeout is addressing an issue that every DFS operator, legalized gambling sites like FanDuel or DraftKings and even emerging NFT marketplaces like NBA Top Shot should be thinking about."

The integration of Prizeout gives PrizePicks customers even more options with how they can utilize their fantasy winnings if they prefer an alternative to cash, often cited by fantasy players as a pain point in the overall experience. The partnership marks the first fantasy sports or sports betting operator to launch with Prizeout, which closed a Series B round of financing in December valuing the business at $156 million.

"We're thrilled to be working with a partner like PrizePicks, who is so committed to giving their users a first-class experience from beginning to end," said Prizeout founder and CEO David Metz. "PrizePicks' choice to leverage Prizeout enables their members to get even more for their money; keeping members engaged and finding value at every touchpoint.

About PrizePicks

PrizePicks is the largest independently owned DFS platform in North America. Centered around real-money over/under predictions, PrizePicks allows sports fans to play against the numbers rather than each other and it is the simplest variety of daily fantasy sports with the widest breadth of sports coverage of any DFS operator. Boasting partnerships in 2020 with the Atlanta Braves and Miami Marlins, among others, PrizePicks is currently the closest legal alternative to legal mobile sports betting in the majority of the United States including Top 10 markets like California, Texas, Florida, and Georgia. With an existing digital footprint covering more than 60 percent of the U.S. population, PrizePicks is the most accessible type of game for the masses. The company is headquartered in Atlanta, and PrizePicks is the third product from Performance Predictions, a suite of fan engagement solutions including SidePrize, the 2016 Fantasy Sports and Gaming Association's "Rookie of the Year" award recipient. PrizePicks is available in the App Store and Google Play or at prizepicks.com.

About Prizeout

Prizeout is a first-in-class ad-tech company that works with businesses across the e-commerce, retail, gaming, service, and payroll industries to turn withdrawals into a singular solution for growth. Operating as a digital cashout marketplace, Prizeout connects brands that are looking to acquire and retain customers with platforms that have users who are looking to withdraw funds. Through its exclusive partnerships, Prizeout offers users unprecedented access to bonus offers on popular and emerging brand favorites while providing them with a fast, secure, and curated experience.

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SOURCE PrizePicks