Allwyn Seeks Alternative Sportsbook Technology After Novibet Deal Collapses

(AsiaGameHub) –   Allwyn is seeking alternative methods to develop its own sportsbook technology following the termination of its agreement with Novibet. This development was shared during the group’s FY25 earnings call, where company leaders also highlighted PrizePicks as a valuable resource for prediction markets and attracting new customers.

Good to Know

• Allwyn abandoned the Novibet acquisition following input from the Hellenic Competition Commission.
• Executives stated that proprietary sportsbook technology continues to be a strategic objective.
• PrizePicks provides Allwyn with a substantial customer base and a unified application for DFS and predictions.

Allwyn Looks Elsewhere for Sportsbook Tech After Novibet Deal Falls Apart

Allwyn continues to pursue its own sportsbook technology, despite the failure of its Novibet acquisition. On the FY25 earnings call, CEO Robert Chvátal confirmed that sportsbook technology is still a focus and that the company has begun evaluating other possibilities.

The Novibet deal was announced earlier this month but was subsequently called off after the Hellenic Competition Commission provided feedback.

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

Chvátal stated.

“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 emphasized that internalizing sportsbook technology is a definite priority. He noted that while Allwyn already manages the majority of its lottery technology, which is crucial for user experience and sustained success, sports betting is the final component not yet handled in-house.

“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 was another major topic of conversation. Allwyn secured a deal last September to purchase a 62.3% share in the DFS operator for an initial $1.6 billion, with additional payments contingent on performance across three years. The transaction was finalized in January, and Morton indicated the company is well-placed to pursue expansion in the US prediction market.

Morton explained that PrizePicks holds an advantage as it does not require the same level of expenditure on customer acquisition as some competitors. He added that integrating DFS and predictions into a single application improves the user experience and reduces the cost of acquiring customers.

“A number of operators have launched actually with three apps, so DFS, OSB and predictions in separate apps,” Morton added. “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 announced FY25 net revenue of €4.1 billion, a 4% increase compared to the previous year. Adjusted EBITDA also grew by 4%, reaching almost €1.6 billion. The company anticipates finalizing its merger with OPAP this month, following shareholder approval in February, which will form a combined entity worth €16 billion.