PrizePicks Partners With PrizeOut In Digital Currency Deal

PrizePicks, the largest independently-owned DFS operator, has partnered with Prizeout, a leading withdrawal marketplace, to enable its members to convert their winnings to digital currency, access it quicker and at a higher value, and invest it with a number of top retailers and brands.

This is the first partnership between a DFS operator and a withdrawal marketplace like Prizeout, according to the company.

Withdrawal of funds through gift cards

Prizeout, which was founded in 2019, serves a variety of sectors, including gaming and payroll solutions, by allowing customers to withdraw funds through gift cards at premium rates from brands including Domino’s Pizza, DoorDash, and Williams Sonoma.

Prizeout’s average customer bid of 11 percent more profit for a cash out represents a $1 billion opportunity space for users in gaming alone, with an estimated $10 billion withdrawn from online gaming in the United States each year.

PrizePicks CEO Adam Wexler said: “The last thing any platform wants to do is dampen a dynamic customer experience on back end fulfillment.

“Prizeout is addressing an issue that every DFS operator, legalised gambling sites like FanDuel or DraftKings and even emerging NFT marketplaces like NBA Top Shot should be thinking about.”

David Metz, the founder and CEO of Prizeout, added: “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. PrizePicks’ choice to leverage Prizeout enables their members to get even more for their money; keeping members engaged and finding value at every touch point.”