PrizePicks Announces Former Blizzard Executive Mike Ybarra as CEO
It might not be one of our best sports betting sites, but it's one of the biggest names in the daily fantasy sports industry.
PrizePicks has found its new CEO, announcing that former Blizzard Entertainment president Mike Ybarra will take on the role.
Ybarra succeeds Adam Wexler, who's one of PrizePicks' co-founders. Wexler will transition into a new role as PrizePicks' executive chairman. Wexler co-founded PrizePicks in 2017, and he helped the company transform from essentially a startup to one of the biggest names in daily fantasy sports.
“I am unbelievably proud of what we have built at PrizePicks," said Wexler in a statement. "Through our culture of constant innovation and having a player-first mindset, PrizePicks has achieved explosive growth.
"Attracting someone with Mike’s background is a true testament to our legitimacy and success to date, and it is a great honor to partner with him. Mike’s track record of introducing fan-favorite games, driving development initiatives, and scaling large customer bases will propel us to new heights.”
Ybarra's recent work
The new CEO of PrizePicks has been a leader in the tech and entertainment industry for more than two decades.
He started at Blizzard Entertainment in November 2019. During that time, he took over the lead on business growth for the company's software portfolio, which includes well-recognized titles such as Warcraft, Diablo, and Overwatch.
“I am impressed with the passion, positive energy, and incredible team at PrizePicks and want to thank Adam and the board for this opportunity,” Ybarra said. “PrizePicks is the most exciting company in sports and entertainment today, and it’s an honor to join as CEO. I have tremendous respect for the foundation that Adam has built and look forward to working with him and the team.”
Before his time at Blizzard, Ybarra spent more than 20 years in development, product management, and leadership roles at Microsoft.
Challenges facing PrizePicks
It's an important and challenging time for PrizePicks, as well as the daily fantasy sports industry as a whole.
The company is set to open its new headquarters in Atlanta, which coincides with its efforts to expand its workforce. PrizePicks could provide 1,000 new jobs over the next seven years.
However, PrizePicks (and many DFS providers) have faced regulatory headaches as the usage of the best sportsbooks continues to grow.
PrizePicks has faced various citations and hurdles, forcing it to modify how it offers DFS.
It's most recently found success with PrizePicks Arena, which allows customers to face one another in a peer-to-peer format rather than square off against "the house." This provides a new twist on a classic game while also helping the company stay compliant with state sports betting laws.
PrizePicks launched Arena in the Florida sports betting scene, Tennessee sports betting scene, West Virginia sports betting scene, Wyoming sports betting scene, and Alabama after having legal operating issues in several states.