Crownbet hands Draftstars off to PlayUp

Crownbet hands Draftstars off to PlayUp

The daily fantasy sports (DFS) shuffle continues. Draftstars, a DFS platform created in 2015 by Australia’s CrownBet and Matt Tripp, has changed hands, and now belongs to DFS operator PlayUp. The acquisition is part of PlayUp’s plans to become a truly global DFS leader. It also allows CrownBet to shed some of its auxiliary services while trying to rebuild its core casino operations.

Crownbet hands Draftstars off to PlayUpPlayUp offers a cryptocurrency designed for the gaming industry called PlayChip, which is based on Ethereum. With Draftstars now under the PlayUp umbrella, Draftstars users should soon be able to use the cryptocurrency in their gambling activities.

Draftstars has been the number one DFS platform in the land down under, registering over 100,000 active users. Tripp spoke of the acquisition, saying, “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 is headed by Daniel Simic, an entrepreneur based in Sydney, Australia. He salvaged PlayUp last year, after it had suffered exaggerated financial hemorrhaging to the tune of $100 million. Simic is also the CEO of information technology firm Next Security and the Fantasy Sports Global website. After picking up Draftstars, Simic said, “Draftstars is an ideal acquisition for PlayUp delivering immediate and significant growth in our Australian user base and a highly recognizable 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.”

PlayUp offers free-to-play daily fantasy challenges. The site follows the sports action in real-time, and provides prizes through its PlayChips. The PlayChips can then be used to make real-money purchases in the PlayUp store. Currently, there are four options available in the store, virtual Visa debit cards in the amount of $50, $100, $250 or $500.

There is currently an Ultimate Champion Leaderboard contest on the site. Participants can win prizes, including one million PlayChips for the top prize, by entering three or more free challenges during the Indian Premier League (IPL). The winners will be announced within 48 hours of the completion of the IPL, set for May 28.