The Relationship

A natural fit within a world AG was already deeply part of.

PrizePicks came to AG in 2020, during the pandemic, while live sports were on hiatus with no certainty over how soon they would return. At the time, a platform centred on sports seemed crazy with no live games to watch. Despite this, AG recognised that this was not permanent, and that sports would surely return, with hungry fans at home watching and wanting to be part of the match.

Fast forward to 2026: Allwyn acquired a controlling stake in PrizePicks for $1.6 billion, proving that Adam Wexler, its founder and CEO at the time, had seen a brief window of opportunity to build something monumental. After the exit, AG and Wexler remained close friends, leading to Wexler’s most recent project, The Spell Off LIVE!, in which AG backs him again.

Wexler first developed the concept in late 2014 with co-founder Jay Deuskar, under the name PredictPicks, before rebranding it in 2018. In spring 2024, the business opened a new Atlanta headquarters in West Midtown with plans for 1,000 jobs, and that August, Mike Ybarra, previously president of Blizzard Entertainment, became CEO, with Wexler moving to executive chairman. Today it has upwards of 10 million members and has expanded into prediction markets. The Allwyn deal could also pay out up to $1 billion more by 2029, depending on performance.