Allwyn Looks for New Sportsbook Tech After Novibet Deal Ends

Allwyn is looking for new ways to bring sportsbook technology in-house after walking away from its Novibet deal. Update came during the group FY25 earnings call, where executives also pointed to PrizePicks as a useful asset in prediction markets and customer acquisition.

Good to Know

• Allwyn dropped the Novibet acquisition after feedback from the Hellenic Competition Commission.
• Management said in-house sportsbook technology remains a strategic target.
• PrizePicks gives Allwyn a large user base and a single app setup for DFS and predictions.

Allwyn Looks Elsewhere for Sportsbook Tech After Novibet Deal Falls Apart

Allwyn still wants proprietary sportsbook technology, even after its Novibet acquisition collapsed. CEO Robert Chvátal said on the company FY25 earnings call that sportsbook tech remains on the radar and that other opportunities are already being explored.

Allwyn had announced the Novibet deal earlier this month, but later withdrew after feedback from the Hellenic Competition Commission.

“This interest in the sportsbook technology remains on the radar of Allwyn,” Chvátal said.

Chvátal said.

“We have already started exploring other opportunities when it comes to sportsbook technology, to maybe solidify our sportsbook position in some markets of Allwyn.”

CFO Kenneth Morton said bringing sportsbook tech in-house is a clear priority. He explained that Allwyn already controls most of the lottery technology it sees as important for user experience and long-term performance, but sports betting remains the missing piece.

“Sports betting is the one bit that we don’t currently have in-house, which we do think is strategically important. So we certainly see benefits to having it in-house, but as Robert said, there are many other ways that we can achieve that.”

PrizePicks also featured heavily in the discussion. Allwyn agreed last September to buy a 62.3% stake in the DFS operator for an initial $1.6 billion, with further payments tied to performance over three years. Deal closed in January, and Morton said the business is in a good position to chase prediction market growth in the US.

According to Morton, PrizePicks has an edge because it does not need to spend as heavily to find new customers as some rivals. He also said combining DFS and predictions inside one app helps both user experience and acquisition costs.

“A number of operators have launched actually with three apps, so DFS, OSB and predictions in separate apps,” Morton continued. “Essentially, to some extent you’re having to acquire the same customer three times.

“That’s not the case for PrizePicks. On day one they went live with predictions within their DFS app, which is obviously better for the user experience, but it’s also much better from the customer acquisition cost perspective.”

Allwyn also reported FY25 net revenue of €4.1 billion, up 4% year-on-year. Adjusted EBITDA also rose 4% to nearly €1.6 billion. Company expects to complete its merger with OPAP this month after shareholder approval in February, creating a combined business valued at €16 billion.