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Daily Fantasy Sports Platform PlayUp Introduces Improvement with Three Acquisition Deals

The world of Daily Fantasy Sports has a lot on offer at the moment and many companies are looking for ways in which they can offer new opportunities for entertainment to their customers. Such is the case with the website PlayUp which has recently announced the acquisition of several companies to the likings of ClassicBet, TopBetta, as well as the Australia-facing Daily Fantasy Sports platform DraftStars.

In the recent months the gaming platform PlayUp has dedicated its efforts to the diversifying of its offerings and branching out to other companies. Within its operation the platform utilizes its own DFS cryptocurrency technology which give players the experience of live sports and the chance to test their knowledge regarding each team participating in a sports event. For the time being the operator oversees sports to the likings of cricket, football, basketball, kabaddi, rugby league, ice hockey, basketball, Australian football, American football. In the future there are plans for adding more gaming options.

The corporate bookmaker ClassicBet is the first new addition to the gaming platform, following the acquisition deal. The ultimate goal of this move is to diversify the offerings of PlayUp and potentially improve them by adding something more. At this point, the company does not reveal the exact amount which was invested in the acquisition. What has been confirmed is that ClassicBet is currently expecting its approval of license for operation which is going to see it develop in the Northern Territory.

New Additions to the Operation of PlayUp

The other signature placed on a vital deal document included TopBetta which is another company operating in the field. As it became clear after the official announcement, the TopBetta is going to shift its operational focus from corporate bookmaking to its Global Tote business, while in the meantime PlayUp takes care of the retail bookmaking assets of the company. In order to finalize the deal and make it official, the DFS business has to pay as much as A$6 million (US$4.7 million) in cash, as well as the addition of 800 million in PlayChip coins.

This is the blockhain-based currency utilized by the platform and it was also utilized in the deal. There is also the third recent acquisition which involved the fantasy sports platform which is managed by CrownBet. It goes by the name of DraftStars and it marks a significant point of the operation of PlayUp. According to the arrangement, the latter is supposed to build on DraftStars already existing DFS gaming options. In the meantime, CrownBet is looking forward to developing its wagering operation, as it could be recalled that The Stars Group oversees as much as 80 percent of the company.

The ultimate goal for PlayUp is to make its way to the Australian Securities Exchange, as well as a listing on Nasdaq Stock Market which is expected to further improve the state of the platform and boost its development in the Daily Fantasy Sports world. The Blockchain technology implemented in it is also seen as a benefit.

 Author: Hannah Wallace

Hannah Wallace has been part of our team since the website was launched. She has a master’s degree in IT.