FanDuel Announces Acquisition of BeyondPlay

Flutter Entertainment-owned FanDuel has completed the acquisition of BeyondPlay, an online gambling player engagement specialist. As per the terms of the deal, BeyondPlay will be absorbed into FanDuel Casino, the brand’s iGaming arm. The financial details of the deal have not been disclosed.

The B2B technology venture Beyond Play was founded in 2021. Its focus has been to provide software to improve player engagement at casinos. BeyondPlay works across various markets and holds licenses to operate in key gaming jurisdictions such as the UK, Malta, and Sweden.

Here is more on the FanDuel acquisition of BeyondPlay.

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BeyondPlay to Provide Custom Jackpot Campaigns

BeyondPlay’s jackpot management system allows operators to create custom jackpot campaigns. This software works in tandem with a multiplayer software system that allows multiple players to play the same casino game with a pooled stake.

“As a founder, witnessing the journey of our start-up from its humble beginnings to becoming part of the world’s leading online sports betting and iGaming company is an incredibly gratifying experience,” BeyondPlay CEO Karolina Pelc said. “This acquisition validates the hard work and dedication of our team and the vision behind our products. We are excited to join forces with FanDuel Casino to amplify the impact of our technology on a global scale.”

FanDuel Casino managing director Asaf Noifeld added: “I’m absolutely delighted with the acquisition of BeyondPlay. Our US strategy is about investing to win and continuously improving our iGaming proposition for our customers is a key part of that. “This acquisition further strengthens FanDuel Casino’s leading customer experience, by adding BeyondPlay’s best-in-class jackpots and multiplayer technology. We’re also excited to welcome their experienced team to FanDuel. We look forward to working together to continue to grow our rising share of the US iGaming market.”

Investors Backed BeyondPlay Well Before Sale

Since its 2021 launch, BeyondPlay has secured the support of many investors and entrepreneurs. Additionally, it had partnered with various game studios before its sale to the Flutter group.

In April 2023, BeyondPlay raised €5.0m (£4.3m/$5.4m) in an oversubscribed funding round led by Bettor Capital, Tigrim Capital, and Winforton Investments to complement reinvestment from existing shareholders.

The round also attracted the attention of industry professionals like Mark Blandford (founder of Sportingbet) and Alexandre Tomic (founder and CEO of Alea). On the heels of the round, it was announced that David VanEgmond (founder and CEO of Bettor Capital) would be joining the board of BeyondPlay. Before his appointment to the board, he had served as an executive for Barstool Sports and FanDuel, leading some to believe that he may have been instrumental in the latter’s purchase of FanDuel.

Earlier in Feb. 2023, Bettor Capital had purchased LeoVegas Group’s 25% holding in BeyondPlay for €1.9m. At the time, BeyondPlay said that it would use the funds to boost its ongoing product development program and focus on delivering the final phase of its multiplayer software, in addition to growing its team to support its expanding business.

“This is another major milestone for BeyondPlay and we’re excited to have secured the confidence and support of such reputable and knowledgeable investors,” BeyondPlay founder and chief executive Karolina Pelc said during the fundraiser. “A combination of Bettor Capital’s leading strategic expertise and the mindsets and experience of some of the industry’s most successful serial entrepreneurs will take our growth to the next level.

FanDuel Rushes to Match DraftKings

Currently, FanDuel is available in five US states with a market share of 26% in Q4 2023. While only six American states have active markets, the iGaming industry generated $6.2 billion in 2023, amounting to a 23% year-over-year increase from 2022 as well.

FanDuel’s acquisition of BeyondPlay is especially poignant as a recent study confirmed that states with both iGaming and physical casinos generated more GGR than states with only land-based casinos.

With DraftKings’ acquisition of JackPocket, it would seem that FanDuel is instead turning its focus to the iGaming segment, rather than online lotteries. As iGaming attracts a younger and more diverse audience, FanDuel will be putting all of its efforts into getting the first mover advantage in the burgeoning gaming market in the United States.

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