Onyx Odds
Onyx Odds is a US social sports prediction and gaming platform combining sports picks, social sweepstakes, DFS, and crypto trading across 500+ tokens, serving approximately one million consumers in 30+ states via a CFTC-regulated introducing broker entity.
- Company typePrivate
- Founded2025
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Onyx Odds does
Onyx Odds, operated by Onyx Games LLC with a regulated affiliate Onyx Predictions LLC, is a US-based social sports prediction and gaming platform that combines sports picks, social sweepstakes, daily fantasy sports (DFS), cryptocurrency trading, and culture/politics prediction markets inside a single consumer application. The platform supports 13 sports categories with both live and pregame team and player picks, plus non-sports markets spanning geopolitics, finance, and culture. Underlying the product is a CFTC-regulated derivatives stack — Onyx Predictions LLC is a registered introducing broker and NFA Member, guaranteed by three CFTC-registered futures commission merchants (NinjaTrader Clearing, Kraken Derivatives US, and Tradovate) — which provides the legal infrastructure for prediction-market operations in the US.
The business operates on a freemium virtual-currency model. Users play for free using Gold Coins (non-redeemable), can purchase Gold Coin packs (the primary monetization stream), and may receive Sweeps Cash bonuses through marked packs or mail-in requests, which can be redeemed for cash prizes subject to per-period caps. A forthcoming crypto product (Onyx Crypto) will embed trading across 500+ tokens within the same application, powered by a partnership with Payward Services (parent of Kraken). Distribution is product-led and self-serve via the iOS App Store (9.2k reviews), Android, and the web, with marketing concentrated in organic social channels and referral incentives. The company is available in 30+ US states with geographic availability disclosed by product (Social Sweepstakes, DFS, Crypto).
Onyx was founded in 2025 by Leul Dadi, is headquartered at 169 Madison Ave, New York, and grew to approximately 800,000–1,000,000 users within its first year of operation. In June 2026 it closed a $20 million Series A led by Payward at a $220 million post-money valuation, having previously raised less than $8 million in venture funding. The company reports $2B+ in monthly notional volume but does not publicly disclose revenue.
Onyx Odds firmographics
Firmographics- Name
- Onyx Odds
- Legal name
- Onyx Games LLC
- Website
- https://onyxodds.com
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Onyx Odds is a US social sports prediction and gaming platform combining sports picks, social sweepstakes, DFS, and crypto trading across 500+ tokens, serving approximately one million consumers in 30+ states via a CFTC-regulated introducing broker entity.
- Ownership category
- akta.pro rank
Onyx Odds industry classification
Industry- Product category
- Sports Prediction Platform
- NAICS
- Commodity Contracts Intermediation (52316), Gambling Industries (7132), Securities and Commodity Exchanges (523210), Investment Banking and Securities Intermediation (523150)
- SIC
- Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)
- akta.pro secondary industries
- Prediction Markets & Event-Based On-Chain Trading (FSADABAM), Sportsbook Trading, Odds & Feed Providers (MPAEAKAB), Prediction Markets & Event Derivatives (Crypto) (FSADAGAG), Exchange Odds, Pricing, Trading Tools & APIs (MPAEAIAG)
Keywords
Where Onyx Odds is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Onyx Odds business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Virtual Coins (Gold Coins): Users purchase Gold Coins for freemium play on the Platform. Gold Coins cannot be redeemed for Prizes but provide enhanced gameplay experience. Purchases are final with no refunds. This is the primary monetization mechanism for the social gaming platform.
- Sweepstakes Entry Bonuses: Users may receive Sweeps Cash as a bonus upon purchasing specifically marked packs of Gold Coins. Sweeps Cash can be used to play sweepstakes games and potentially win additional Sweeps Cash redeemable for cash prizes.
- Crypto Trading: Users can trade 500+ cryptocurrency tokens within the Onyx platform. Crypto functionality is available in the US starting July, expanding revenue opportunities through crypto transaction capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free Tier - Gold Coins |
| Freemium | Pay-as-you-go | Purchasable Gold Coins |
| Other | Pay-as-you-go | Sweeps Cash Redemption |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Onyx Odds product offering
Product offeringCore offering
Onyx Odds operates a social sports prediction platform accessible via web and mobile apps, offering live and pregame team and player picks across 13 sports categories, sweepstakes-based gaming using Gold Coins and Sweeps Cash virtual currencies, daily fantasy sports, and integrated cryptocurrency trading for 500+ tokens. The platform is available in 30+ US states and leverages CFTC-regulated derivatives infrastructure through a partnership with Payward (parent of Kraken) to enable compliant prediction market operations.
Product overview
Onyx Odds is a social sports prediction platform and gaming ecosystem that combines multiple product offerings. The core platform includes Onyx Social Sports Predictions (a sports betting platform supporting 13 sports categories with live and pregame markets), Onyx Social Sweepstakes (a sweepstakes-based gaming system using virtual currencies), Onyx DFS (daily fantasy sports available in CA and IN), Onyx Crypto (cryptocurrency trading with 500+ tokens, launching July), and Onyx Prediction Markets (non-sports markets covering culture, politics, and finance). The platform uses virtual currencies (Gold Coins for freemium play and Sweeps Cash for sweepstakes entries) and is available across 30+ US states. The company integrated with Payward Services (Kraken's parent company) to power prediction markets through CFTC-regulated derivatives infrastructure.
Differentiator
Problem solved
Functional benefit
Brands
- Onyx Social Sweepstakes: Social sweepstakes platform available in 30+ states across the United States where users can play sweepstakes games for a chance to win cash and prizes.
- Onyx DFS
- Onyx Crypto
- Onyx Predictions
Quantifiable outcome
- Nearly 1 million users within first year of operation with industry-leading retention
- +2 more outcomes
Companies that use Onyx Odds
Customer profileSegments2 records
Ideal customer profiles2 records
Onyx Odds technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Onyx Odds partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- NinjaTrader Clearing LLCcoreOnyx Predictions LLC is an introducing broker guaranteed by NinjaTrader Clearing LLC (d/b/a NinjaTrader). NTC is a CFTC-registered futures commission merchant and NFA Member that carries and maintains all customer accounts.
- Kraken Derivatives UScoreOnyx Predictions LLC is guaranteed by Kraken Derivatives US as part of its CFTC-regulated derivatives infrastructure. This partnership enables access to licensed US derivatives trading capabilities.
- TradovatecoreOnyx Predictions LLC is guaranteed by Tradovate as part of its brokerage infrastructure. Together with NinjaTrader Clearing LLC and Kraken Derivatives US, these firms provide the FCM backing for customer accounts.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Onyx Odds competitors and assessment
Company assessmentBroad incumbents
- DraftKings: DraftKings is the largest US sports betting and DFS operator with full state licensing across 25+ states — comparable to Onyx as a broad incumbent offering sports prediction, DFS, and increasingly prediction-market-adjacent products, though it cannot serve many of the states where Onyx operates under sweepstakes.
- FanDuel: FanDuel is a major US sportsbook and DFS operator offering sports predictions and same-game parlays — comparable to Onyx in the sports prediction category, but operating only in legally-licensed sports betting states and not under a sweepstakes model.
Direct peers
- Sporttrade: Sporttrade is a CFTC-regulated sports betting exchange backed by investors including a16z — comparable to Onyx Predictions as both bring exchange-style, liquidity-driven sports markets to US consumers under federal derivatives oversight.
- Novig: Novig is a peer-to-peer sports prediction market operating under CFTC oversight with a sweepstakes-style consumer app — highly comparable to Onyx because both target US sports fans with regulated event-contract trading and social mechanics.
- Kalshi: Kalshi is a CFTC-regulated prediction market exchange for event contracts covering sports, politics, and economics — directly comparable to Onyx Prediction Markets because both operate on US-regulated derivatives infrastructure and target the same category of event-based trading.
- Fliff: Fliff is a social sports prediction and sweepstakes mobile app offering sports picks across multiple leagues using a dual-currency (Fliff Coins + Fliff Cash) model — the closest direct competitor to Onyx Social Sweepstakes in product mechanics, target audience, and state-by-state availability strategy.
- Prophet Exchange: Prophet Exchange is a CFTC-regulated sports betting exchange offering peer-to-peer markets on sporting events — directly comparable to Onyx Predictions as both operate US-regulated derivatives infrastructure for sports event contracts.
- Polymarket: Polymarket is the largest crypto-based prediction market for sports, politics, and cultural events — comparable to Onyx Prediction Markets and Onyx Crypto because both combine crypto rails with event-contract trading, though Polymarket lacks US CFTC registration.
Emerging players
- Underdog Fantasy: Underdog Fantasy operates daily fantasy sports and pick'em products with social gaming mechanics — comparable to Onyx DFS and Onyx Social Predictions in audience and pick-style gameplay.
- PrizePicks: PrizePicks is one of the largest US daily fantasy sports operators offering player prop picks — comparable to Onyx DFS because both serve the same sports-picks audience with simplified over/under style entries, though PrizePicks operates at significantly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Onyx Odds social profiles
Digital presenceOnyx Odds compliance and trust
Trust signalCompliance3 records
Onyx Odds financial estimates
Financial estimateRevenue estimate
Valuation estimate
Onyx Odds leadership team
Management profileNumber of profiles
Profiles1 record
Onyx Odds funding detail
Funding detailFunding overview
Funding rounds1 record
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Onyx Odds M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Onyx Odds
What does Onyx Odds do?
Onyx Odds operates a social sports prediction platform accessible via web and mobile apps, offering live and pregame team and player picks across 13 sports categories, sweepstakes-based gaming using Gold Coins and Sweeps Cash virtual currencies, daily fantasy sports, and integrated cryptocurrency trading for 500+ tokens. The platform is available in 30+ US states and leverages CFTC-regulated derivatives infrastructure through a partnership with Payward (parent of Kraken) to enable compliant prediction market operations.
Is Onyx Odds a public or private company?
Onyx Odds is a private company. It is classified as venture growth investor backed and is currently operating.
When was Onyx Odds founded?
Onyx Odds was founded in 2025. It employs 11 to 50 people.
Where is Onyx Odds based?
Onyx Odds is headquartered in New York, United States, in the North America region.
How does Onyx Odds make money?
Three revenue lines are on record. Virtual Coins (Gold Coins) is the primary driver. The others are sweepstakes Entry Bonuses and crypto Trading.
Who are Onyx Odds's main competitors?
Broad incumbents on record are DraftKings and FanDuel. Direct peers are Sporttrade, Novig, Kalshi, Fliff, Prophet Exchange and Polymarket. Emerging players are Underdog Fantasy and PrizePicks.
Does Onyx Odds have an API?
No public API is recorded for Onyx Odds.
What industry is Onyx Odds in?
Onyx Odds's product category is Sports Prediction Platform. Its primary akta.pro industry code is MPAEAKAA, iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms), with a secondary code of FSADABAM, Prediction Markets & Event-Based On-Chain Trading. Its NAICS code is 52316 and its SIC code is 6221.