PrizePicks to exit Michigan following regulatory updates

exit door
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PrizePicks has told customers in Michigan that it will leave the Great Lake State on November 10 after a regulatory update banned its products. 

The daily fantasy sports operator posted an “important update” to its website for Michigan users in which it outlined that customers cannot deposit any further funds from November 10. 

Customers can build fantasy lineups and complete contests through the cutoff date, so long as the projections are from contests that are completed by that date. Any entries made for after that date will not count and will be refunded. 

PrizePicks stated: “You can build fantasy lineups on our current real-money contests through November 10th, as long as the selected projections are from contests that are completed by this date. You will be paid for any and all eligible winnings earned on these entries.  

“Do not include ANY projections from events that will be completed after November 10th. Any entries with such projections will not be eligible for winnings.  These entries will be voided and refunded accordingly.

‍“After November 10, you will no longer have the ability to enter fantasy lineups on our current real-money contests.”

Players in Michigan have also been told that any season-long projections for after November 10 will be honored if they were made before the announcement made at the end of last week. 

However, players do have the ability to withdraw funds before or after the closure date, while funds will remain secure and safe until withdrawn. 

PrizePicks’ departure from Michigan comes shortly after the Michigan Gaming Control Board updated its regulations to ban pick’em style DFS games on the grounds that they are too similar to prop-betting.

MGCB stated that it seeks to ban “proposition selection or fantasy contests that have the effect of mimicking proposition selection”. Moreover, the MGCB would ban “any fantasy contests that involve, result in, or have the effect of mimicking betting on sports”.