The move is a significant step in Allwyn's strategy to expand beyond traditional lottery operations and deepen its presence in the U.S. gaming market. Allwyn is the flagship of Czech billionaire Karel Komarek's KKCG investment group and has expanded quickly in recent years, gradually diversifying into online gaming. It holds a 36.75% stake in Kaizen Gaming, which operates the Betano brand, and in December 2024 agreed to acquire a 51% stake in Novibet, a Greek online betting firm. The PrizePicks deal marks a shift toward higher-growth, tech-enabled platforms. While sports betting has expanded rapidly, iCasino - online casino gaming - remains legal in only a handful of states.