DraftKings is joining the ranks of fantasy sports sites offering props-style, though not quite the same product as competitors PrizePicks and Underdog.
Instead, the new DraftKings Pick6 game pits users against one another instead of the house. Other than that though, the product functions similarly to other pick’em-style fantasy games. Users can craft rosters of 2-6 players and pick whether or not those players will fall short of or exceed a statistical benchmark.
“For the past decade, DraftKings has defined innovation in fantasy sports,” said Corey Gottlieb, DraftKings’ Chief Product Officer. “Pick6 is the next great example of that innovation—this is a homegrown, peer-to-peer product that taps into our customers’ desire for fun, simple-to-play experiences tied to their favorite athletes. We are excited to give our customers another way to experience live sports by competing against each other.”
With the peer-to-peer structure, each contest is limited to 150 entries. The prize pool is then divvied up based on how many legs players get right. If multiple players pick enough accurate legs to cash, they split the prize payout for that tier with all of the players who picked that amount correctly.
DraftKings also recently announced plans for a new product on the sports betting side. During the company’s investor presentation last month, DraftKings CEO Jason Robins announced the imminent rollout of Progressive Parlay. The product allows bettors to recoup some winnings even if one leg of their parlay bet fails. It will launch in the coming weeks.
DraftKings and FanDuel have been interlocked in a battle with fantasy operators, putting pressure on regulators to look closely at fantasy sports rules. While some of this debate has centered on the nature of props-style parlays too closely resembling sports bets, the launch of Pick6 might suggest that the debate on what makes fantasy sports will focus more on whether it is peer-to-peer or against the house.
