50 Facts About Prizepicks

Founding and Growth

PrizePicks has quickly become a major player in the daily fantasy sports (DFS) world. Let's dive into its origins and rapid growth.

1. 01Founding: PrizePicks was founded in late 2014 by Adam Wexler and Jay Deuskar.
2. 02Headquarters: The company is headquartered in Atlanta, Georgia, despite sports betting being illegal in the state.
3. 03Legal Distinction: PrizePicks operates as a DFS operator rather than a sportsbook, allowing it to function in states where online sports betting is not legal.
4. 04DFS Contests: Known for offering DFS contests, PrizePicks features "pick 'em"-styled games that closely mirror player prop betting found in traditional sports betting.
5. 05Expansion: As of June 2024, the company offers paid fantasy games in 30 U.S. states and Washington, D.C.
6. 06Revenue Growth: Over the past three years, PrizePicks has experienced explosive revenue growth, increasing total revenue by more than 600% between 2020 and 2021.
7. 07App Downloads: The company has registered over 1 million iOS app downloads.

Diverse Sports Offerings

PrizePicks isn't just about traditional sports. They cover a wide range of leagues and even esports.

8. 08Sports Leagues: PrizePicks offers over 60 different sports leagues for member play, including NFL, NBA, esports titles like League of Legends and Counter-Strike.
9. 09Winnings Paid Out: The company has proudly paid out over $500 million in winnings during its lifetime.
10. 10Recognition: PrizePicks was recognized as the 2021 Fantasy Sports Business of the Year Award by the Fantasy Sports & Gaming Association.
11. 11EGR North America Award: The company also received the Fantasy/DFS Operator of the Year award by EGR North America.
12. 12Inc. 5000 List: PrizePicks was named the fastest-growing sports company in America as part of the 2022 Inc. 5000 list, ranking 66th out of 5,000 companies.
13. 13Employee Growth: The organization has grown its headcount from 20 to over 100 employees.
14. 14Top Workplace: PrizePicks was named a Top Workplace by the Atlanta Journal-Constitution.

Leadership and Headquarters

The leadership team and their strategic decisions have played a crucial role in the company's success.

15. 15Investment: The company invested $25 million into its West Midtown headquarters in Atlanta.
16. 16CEO Adam Wexler: Adam Wexler has been serving as the CEO of PrizePicks since October 2017 and is also the co-founder of the company.
17. 17CTO Jay Deuskar: Jay Deuskar serves as the Chief Technology Officer (CTO) of PrizePicks and is also a co-founder.
18. 18Atlanta Native: Adam Wexler is an Atlanta native and a graduate of the University of Georgia.
19. 19Atlanta Tech Village: Initially, PrizePicks operated out of the Atlanta Tech Village before moving its headquarters to the Star Metals building in West Midtown in April 2024.
20. 20Star Metals Headquarters: The new headquarters is a significant investment for the company, reflecting its growth and commitment to innovation.

User Experience and Market Presence

PrizePicks has focused on creating a user-friendly platform and expanding its market presence.

21. 21User-Friendly Platform: PrizePicks is known for its user-friendly platform, making it accessible to a wide variety of sports fans.
22. 22Digital Footprint: The company has an existing digital footprint covering more than two-thirds of the U.S. population, making it one of the most accessible types of games for the masses.
23. 23Sports Coverage: PrizePicks covers a wide variety of sports leagues, from traditional sports like NFL and NBA to esports titles like League of Legends and Counter-Strike.
24. 24Competitive Advantage: The company's "pick 'em"-styled games offer a unique competitive advantage by allowing users to pit their skills against the numbers rather than against a pool of thousands of other players.
25. 25Controversies: Despite its success, PrizePicks has encountered contentious legal issues due to its distinction as a DFS operator.
26. 26Regulatory Compliance: The company has navigated regulatory compliance challenges effectively, allowing it to operate in multiple states where online sports betting is not legal.
27. 27Customer Acquisition Engine: PrizePicks has a highly-efficient customer acquisition engine, contributing significantly to its growth and success.
28. 28Premium Unit Economics: The company operates near breakeven levels primarily leveraging revenue-based financing, which has been crucial for its financial stability.
29. 29Community Recognition: PrizePicks has been recognized for its community engagement and contributions, including being named a Top Workplace by the Atlanta Journal-Constitution.
30. 30Industry Recognition: The company has received numerous industry awards and recognitions, solidifying its position as a leader in the DFS industry.

Market Expansion and Financial Stability

PrizePicks has shown impressive market expansion and financial stability, ensuring its position as a market leader.

31. 31Market Presence: PrizePicks is available in the majority of the United States, including top 10 markets like California, Texas, Florida, and Georgia.
32. 32Esports Involvement: The company's involvement in esports has been significant, offering games like League of Legends and Counter-Strike.
33. 33Revenue Model: PrizePicks operates on a revenue-based model, where users pay to participate in DFS contests.
34. 34User Engagement: The platform is designed to be fast and simple, enhancing user engagement and retention rates.
35. 35Mobile Accessibility: PrizePicks is available in the App Store and Google Play, making it easily accessible on mobile devices.
36. 36Historical Milestones: The company has achieved several historical milestones, including eclipsing full-year 2021 revenue within the first six months of 2022.
37. 37Operational Efficiency: PrizePicks has demonstrated operational efficiency by growing its revenue significantly while maintaining a relatively small workforce.
38. 38Market Expansion: The company has expanded its market presence by offering DFS contests in multiple states and Washington, D.C.
39. 39User Base: PrizePicks has a large and active user base, with over 1 million iOS app downloads and a significant digital footprint.
40. 40Financial Stability: Despite rapid growth, PrizePicks has maintained financial stability by operating near breakeven levels and leveraging revenue-based financing.

Innovation and Community Impact

PrizePicks continues to innovate while making a positive impact on the community.

41. 41Industry Innovation: The company has been at the forefront of industry innovation, introducing new features and games that enhance user experience.
42. 42Community Impact: PrizePicks has made a positive impact on the community through its recognition as a Top Workplace and other community engagement initiatives.
43. 43Leadership Team: The leadership team, led by Adam Wexler and Jay Deuskar, has been instrumental in the company's growth and success.
44. 44Company Culture: PrizePicks has a strong company culture that emphasizes innovation, hard work, and determination, contributing to its recognition as one of the fastest-growing companies in the U.S.
45. 45Awards and Recognition: The company has received numerous awards and recognitions, including being named the fastest-growing sports company in America by Inc. magazine.
46. 46Market Dominance: PrizePicks has established itself as a market leader in the DFS industry, offering a wide variety of sports leagues and games.
47. 47User-Friendly Interface: The platform is designed to be user-friendly, making it accessible to a wide range of sports fans.
48. 48Revenue Growth Rate: The company has achieved an impressive revenue growth rate, increasing its revenue by more than 600% between 2020 and 2021.
49. 49Operational Challenges: Despite its success, PrizePicks has faced operational challenges related to regulatory compliance and market competition.
50. 50Future Prospects: With its strong leadership team, innovative platform, and significant market presence, PrizePicks is well-positioned for continued growth and success in the DFS industry.

PrizePicks' Impact on Fantasy Sports

PrizePicks has quickly become a major player in the daily fantasy sports world. Founded by Adam Wexler and Jay Deuskar in 2014, the company has grown rapidly, offering contests in 30 states and Washington, D.C. With over 1 million iOS app downloads and more than $500 million paid out in winnings, it's clear that PrizePicks is resonating with sports fans. Their unique "pick 'em"-styled games and wide variety of sports leagues, including NFL, NBA, and esports, set them apart. Recognized as the fastest-growing sports company in America by Inc. magazine, PrizePicks continues to innovate and expand. Despite facing regulatory challenges, their commitment to a user-friendly platform and community engagement has solidified their position as a leader in the industry. PrizePicks is poised for continued success, making it a go-to choice for fantasy sports enthusiasts.