PrizePicks Secures Licenses in Puerto Rico and Maine

The company’s Arena solution has entered the regulated gambling market in both Maine and Puerto Rico, bringing its DFS solutions locally Image Source: Shutterstock.com

PrizePicks, a platform that offers bets on sports, invites players to “cash-in” on their sports knowledge, has secured two important milestones, expanding both in the domestic market in the United States.

PrizePicks Secures Pair of Licenses in Maine, Puerto Rico

The daily fantasy platform has secured a license in Maineand Puerto Rico, which will see it grow its footprint further afield and offer a variety of betting options, despite the regulatory pushback in certain states across the country.

The new licensure, though, suggests that despite pockets of opposition, DFS is still a relevant vertical, and one that continues to expand and grow. While concerns continue aboutthe nature of DFS, and the fact that they may encroach on traditional sports betting territory, few states have gone so far as to outright try and ban the activity.

DFS has proven itself perfectly capable of cohabitating a jurisdiction with mainstream sports betting, as is now the case in both Maine and Puerto Rico. Entrance into Puerto Ricois an important achievement for PrizePicks as it could seek to differentiate its offer in a fairly newly-regulated market.

A key product for the company is the so-called Arena platform, which has already seen sustained interest from consumers across the United States. PrizePicks is effectively licensed in 47 states following the latest two entries.

As to what this means for the company, PrizePicks SVP of legal compliance, Adam Packer, said that the Arena solution has already established itself as a success across the United States, and the company is hoping to replicate this formula in Maine and Puerto Rico once again.

PrizePicks has consistently received top marks for operating a responsibleand player-centric platform. The company became the first and only so far DFS company to have also been granted the iCAP accreditation by the National Council on Problem Gambling, attesting to its credibility as a trusted provider of services.