Secures Licenses in Puerto Rico and Maine: PrizePicks' Expansion Continues
PrizePicks Makes History as First DFS Operator to Secure Licenses in Puerto Rico and Maine
PrizePicks, a leading daily fantasy sports (DFS) operator, has made significant strides in expanding its national footprint. The company has recently secured gaming licenses in Puerto Rico and Maine, marking an important milestone in the development of these territories' fantasy and gaming ecosystems.
Adam Packer, Senior Vice President of Legal & Compliance at PrizePicks, expressed his gratitude towards the Puerto Rico Gaming Commission and the Maine Gambling Control Unit for their support during the licensure process. He noted that these achievements reflect PrizePicks' commitment to responsible gaming and compliance with evolving regulatory interpretations.
PrizePicks' entry into Puerto Rico, a U.S. territory with a developing gaming framework, could pave the way for other DFS operators. By securing formal licensure, PrizePicks signals confidence in its compliance posture and the viability of skill-based fantasy contests under regulated frameworks.
In Maine, where legal sports betting launched in 2023, PrizePicks' launch comes amid increased scrutiny of DFS models that resemble fixed-odds betting. However, PrizePicks' focus on skill-based fantasy sports is expected to set a benchmark for responsible gaming and regulatory cooperation that others may need to follow to enter or remain in regulated markets.
PrizePicks has also received iCAP accreditation from the National Council on Problem Gambling (NCPG), becoming the first and only DFS operator to achieve this certification for responsible gaming. This accreditation underscores PrizePicks' adherence to responsible play policies, user safeguards, and educational outreach.
With its presence now extended into nearly every state where DFS is permitted, PrizePicks continues to broaden its national footprint. A launch of PrizePicks' skill-based fantasy product, Arena, is now live in Maine, with a launch in Puerto Rico expected in the coming months.
This development implies that other DFS operators may find regulatory doors opening in Puerto Rico and comparable markets where gaming regulations, including those for fantasy sports, are still being established or refined. PrizePicks’ licensure shows that authorities like the Puerto Rico Gaming Commission are willing to grant licenses for DFS, which may encourage competitors to pursue licensing proactively to gain a competitive advantage and ensure compliance amid ongoing legal scrutiny in the U.S.
In sum, PrizePicks’ licensing in Puerto Rico signifies regulatory progress by establishing a formal path for DFS operators in the territory. It also highlights the increasing importance of responsible gaming and regulatory partnerships in the DFS sector’s expansion. As operators expand into new regulated markets, these areas of focus are growing in importance. This move by PrizePicks underscores the growing legitimacy of daily fantasy sports in regulated gaming environments.
[1] PrizePicks Press Release
[2] Legal Sports Report
[3] Forbes
[4] ESPN
- As PrizePicks expands into new regulated markets such as Puerto Rico and Maine, the potential for sports betting enthusiasts to engage in skill-based fantasy sports contests may increase, offering unique odds and financial opportunities.
- The focus on technology and compliance, as demonstrated by PrizePicks' recent achievements, is expected to influence the development of fantasy sports in regulated markets, potentially reshaping the interplay between sports, finance, and technology in the gaming industry.
