Allwyn PrizePicks Revenue Jumps 27% as US Growth Accelerates

Allwyn PrizePicks revenue jumped 27% to $1.46 billion in the second quarter. Most of that gain came from one deal: the acquisition of PrizePicks. Adjusted EBITDA climbed 29% to $533 million, with margin ticking up to 36.8%.

Strip out PrizePicks and a tax change in Austria, and underlying growth sat at a steadier 5%. That distinction matters for anyone who plays on PrizePicks or follows the US prediction market space. Allwyn owns the UK National Lottery. It also holds a majority stake in PrizePicks. Millions of US players use the DFS and prediction market app for NFL, NBA, and MLB picks.

The Q2 numbers show where the real growth came from, and where profit margins felt the squeeze.

Allwyn PrizePicks Revenue: What the Q2 Numbers Show

Group-wide, the results split into two stories. One is raw growth from a large acquisition. The other is a smaller organic gain sitting underneath it.

The table below breaks out the group’s Q2 figures against last year’s numbers.

Metric	Q2 2026	Q2 2025	Change
Net revenue	$1.46B	$1.14B	+27%
Adjusted EBITDA	$533M	$413M	+29%
Adjusted EBITDA margin	36.8%	36.3%	+0.5 pt
Underlying revenue growth*	+5%	—	—

*Excludes PrizePicks and the Austria gaming tax impact.

Adjusted EBITDA margin held roughly flat despite the acquisition noise. That stability matters because it shows PrizePicks did not drag down group profitability on its own.

How Allwyn PrizePicks Revenue Reshaped North America

North America saw the sharpest swing. Net revenue there rocketed from $63 million to $342 million, almost entirely because PrizePicks joined the group in January. On a like-for-like basis, growth was a modest 2% reported, or 6% at constant currency. That comparison counts PrizePicks in both years.

Adjusted EBITDA in the region actually fell 26% to $121 million. The margin dropped from 48.8% to 35.4%, and marketing spend explains why. Allwyn increased North American marketing by $29 million. The spend targeted FIFA World Cup engagement and an early push toward NFL season. Amounts staked climbed more than 35% year over year. PrizePicks also closed June with 18% more monthly active players than a year earlier.

Lottery Dips as iGaming Lifts Allwyn’s Revenue Mix

Not every part of Allwyn’s business grew. Lottery net revenue fell 2% group-wide, and Allwyn pointed to unusually strong jackpot cycles in last year’s comparison quarter. Outside Allwyn PrizePicks revenue, the standout mover was iGaming, up 24%. Sports betting revenue increased 12%, largely on the back of the FIFA World Cup.

In the UK, Allwyn finished a multi-year technology overhaul of the National Lottery. That paid off on the bottom line. UK adjusted EBITDA jumped from $7 million to $27 million, even though UK revenue growth stayed at just 2%. Capital spending in the UK fell 65%, another sign the platform rebuild is largely finished.

What Rising PrizePicks Revenue Means for US Players

The Allwyn PrizePicks revenue story matters here. It signals how much the company plans to keep spending on player acquisition. PrizePicks users should expect the marketing push to continue through football season. Allwyn’s spending increase already lined up with the NFL calendar.

Company guidance points to more of the same. Allwyn kept its full-year targets unchanged, still projecting mid-to-high 20 percent revenue growth and an adjusted EBITDA margin near 37%. That guidance signals confidence, even with North American margins under pressure right now. For US players comparing DFS and prediction market apps, heavier investment from a well-funded rival usually means more promotions.

It also tends to mean faster product updates. Players weighing PrizePicks against other prediction market platforms can compare options in CasinoUS’s coverage of the space. Allwyn’s next disclosure lands September 3, when the company publishes its full IFRS half-year results.