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PlayUp Acquire Draftstars and TopBetta
As we hinted several weeks ago on the Daily Fantasy Rankings Twitter feed, PlayUp have officially announced the acquisition of Australian daily fantasy sports site Draftstars. In a further twist, PlayUp have also announced the purchase of Australian sportsbooks TopBetta and Classicbet in a spending spree that is set to launch PlayUp Interactive into the spotlight of the Australian sports wagering industry.
In their press release, PlayUp declared that they would deliver the world’s first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem, utilizing the “PlayChip” token - a crypto-currency built on the Ethereum blockchain, specifically designed for use as a universal payment and rewards system for the online gaming industry.
"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," said PlayUp CEO Daniel Simic.
On Monday TopBetta announced that they were to step away from corporate bookmaking to focus more on their Global Tote business, with PlayUp set to acquire the customer-facing business in a purchase worth $6 million in cash and 800 million in PlayChip coins.
To celebrate the change of ownership of Draftstars, there will be a $100,000 AFL DFS contest for the Anzac Day clash between Collingwood and Essendon. This is the biggest DFS contest of the year so far and supports the bold desire of PlayUp to build Draftstars to the point where they are awarding $1 million in winnings every single day.
It's exciting times for the Daily Fantasy Sports industry in Australia and we hope that PlayUp's injection of cash and passion will see DFS climb to the next level in this country.