Vetnos LLC, a reputable vendor of fantasy sports technology, is renowned within the business-to-business sector in the United States. It supplies tribal entities located in regions such as Oklahoma and California with cutting-edge daily fantasy sports (DFS) technology to fuel their operations. Along with holding three proprietary patents for technology designed to limit performance and financial uncertainties linked to DFS fixed-odds betting, Vetnos has reportedly initiated a legal action against another DFS operator, accusing it of unauthorized use of its technology.
According to revelations by the LegalSportsReports, Vetnos lodged a legal complaint against PrizePicks at the Northern District of Georgia court in the previous week. The lawsuit alleges both patent transgression and trade secret misappropriation, with Vetnos stating that PrizePicks illicitly replicated its patented fixed-odds fantasy technology.
The co-founder of Vetnos, Dan Orlow, articulated that the company has been making attempts for years to settle this dispute with PrizePicks amicably. However, since no agreement could be reached and PrizePicks allegedly did not observe Vetnos’ IP privileges, Orlow asserted that the only option left for Vetnos was to file a lawsuit.
“We made PrizePicks aware of our unease for a considerable period, aiming to achieve a peaceful resolution to the issue, but unfortunately PrizePicks declined to consider our IP rights, leaving us with no choice but to solicit assistance from the judiciary.”
Dan Orlow, Co-founder of Vetnos
“PrizePicks Replicated Vetnos Technology,” Alleges Lawsuit
According to the lawsuit,Steven Kersetein, a former Vetnos employee, played a key part in the illicit duplication process of Vetnos’ patented technology. Vetnos argues that PrizePicks utilized its proprietary technology to its advantage, thereby facilitating the roll-out of fixed-odds DFS games with minimum to no risk. Furthermore, Vetnos explains that unlike PrizePicks, they had to undergo a rigorous trial and error process to develop the technology.
“As a result of replicating the Vetnos Technology, PrizePicks managed to launch a unique fixed-odds daily fantasy sports game and learn to efficiently handle the associated risks, without having to face the substantial trials, errors and losses encountered by Vetnos to develop the technology.”
states the lawsuit lodged by Vetnos
Presently, Kersetein holds a position at PrizePicks, where he supervises market intelligence and company relations. Given the lawsuit, the company has until July 11, 2023 to put forth its response.
The dispute has led to a statement by PrizePicks, with its Chief Legal Officer and Head of Public Policy, Jason Barclay, disputing the allegations raised by Vetnos. Barclay refutes the claims, suggesting that Vetnos has been seeking to vend its technology for years and has now “devised a baseless lawsuit to make us reconsider.” Acting as a spokesperson for the company, he conveyed that PrizePicks is resolute in its decision to robustly defend against the lawsuit.
