PlayUp acquires Draftstars

Business News

Australia based PlayUp, the developer, owner and operator of leading-edge technologies focused on live sports entertainment in the online gaming and daily fantasy sports sector, has acquired Draftstars from CrownBet. 

Acquisition of Draftstars delivers significant growth opportunities in Australia for PlayUp.

PlayUp set to become the global market leader in blockchain-enabled Fantasy Sports, Sports Betting, Wagering and Online Gaming. The ‘PlayChip’, a universal gaming currency built on the Ethereum blockchain, will be integrated within Draftstars

Draftstars is Australia’s largest daily fantasy sports (DFS) platform. The acquisition forms part of PlayUp’s international growth strategy while allowing CrownBet to focus on its core wagering business.

The Draftstars platform has more than 100,000 active users and provides opportunities to wager on daily fantasy sports games spanning major local and international sporting codes such as the AFL, NRL, NBA and more. PlayUp will continue to operate and grow the Draftstars brand.

Draftstars was founded by Matt Tripp and the James Packer backed CrownBet in April 2015 with Seven West Media, Fox Sports and the AFL becoming shareholders in the venture. Within a short period of time, Draftstars became the clear Australian market leader and dominant player in Daily Fantasy Sports. Draftstars attracted professional talent such as Wendall Sailor (ARL) and Barry Hall (AFL).

PlayUp is seeking acquisitions of cash-based fantasy sports betting platforms as well as other wagering operators globally, providing those as well as other independent platforms with a new, turnkey universal gaming currency solution. This solution is the ‘PlayChip’, which will be the world’s largest fully integrated blockchain enabled and cryptocurrency for gaming and wagering.

Matt Tripp commented: “PlayUp’s innovative strategy to grow Fantasy Sports and create global liquidity in cash and cryptocurrency via its ‘PlayChip’ will be an exciting journey. We are glad that Draftstars now forms part of PlayUp’s offering and that the effort put into growing the Draftstars brand and client base will add to PlayUp’s success.”

PlayUp CEO Daniel Simic said: “Draftstars is an ideal acquisition for PlayUp delivering immediate and significant growth in our Australian user base and a highly recognisable daily fantasy sports brand that we will continue to grow and enhance. Over time, we will integrate the PlayChip within Draftstars as an additional currency.”