Poker legend Phil Hellmuth has rewarded PrizePicks founder Adam Wexler with a luxurious Tourbillon watch valued at over $100,000, celebrating the daily fantasy sports company’s blockbuster sale to lottery operator Allwyn.
The transaction, announced last September, saw Allwyn acquire a 62.3% stake in PrizePicks for an upfront payment of $1.6 billion. With potential earnouts, the deal could ultimately value the Atlanta-based company at an impressive $4.15 billion.
“We sold PP (PrizePicks) for $4.1 billion,” Hellmuth shared on X. “I was a proud Advisor to Adam, and an investor. Now buying my beloved CEO/Founder Adam a Tourbillon watch as a gift and a thank you.”
Hellmuth’s investment in PrizePicks dates back to 2020, when he participated in a consortium that provided $850,000 in seed funding. Industry reports suggest his stake has appreciated to approximately $20 million, representing a remarkable return on investment.
The poker icon’s golden touch with investments has been well-documented. In the same year as his PrizePicks investment, Hellmuth invested $300,000 in dMY Technology Group, a SPAC that merged with Rush Street Interactive, enabling the iGaming operator’s public listing.
PrizePicks has evolved beyond its DFS origins to become a significant player in the rapidly growing prediction markets sector. In November, the company announced strategic partnerships with both Kalshi and Polymarket, bringing their event contracts to PrizePicks’ user base.
The company’s expansion appears to be paying off. On Super Bowl Sunday, PrizePicks ranked as the second most-downloaded sports gaming mobile app, demonstrating strong consumer demand for its prediction market offerings.
The Allwyn acquisition positions PrizePicks for further growth, with the lottery operator gaining access to the booming US prediction markets industry while providing PrizePicks with additional resources and distribution channels.
