Ventos LLC Accuses PrizePicks of Pick Software Theft
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00:00 (upbeat music)
00:03 - All right, let's close it out here
00:04 with a very compelling story, I think,
00:07 how one company, Sam, is essentially saying
00:10 that another stole their ideas and their technology.
00:14 This is a company that is called Ventos, V-E-N-T-O-S, LLC,
00:19 and they are suing PrizePix,
00:21 essentially saying they stole their, quote,
00:24 "Pick 'em" software.
00:26 Is there anything to this?
00:28 - It's a really interesting case.
00:30 Ventos, the company, is arguing that,
00:33 basically what they do is they license
00:35 sports betting software to different companies to use,
00:37 or Daily Fantasy sports software,
00:39 and they're arguing that PrizePix
00:41 basically stole their technology
00:42 and used it to power their "Pick 'em" props.
00:45 PrizePix has asked that the case be thrown out,
00:47 but they just responded this week,
00:49 basically saying why it shouldn't be thrown out.
00:51 It's kind of tied to these patents that they have,
00:54 which PrizePix said that they've tried
00:56 to sell to them for years,
00:57 and it's kind of trying to characterize this
00:59 as a veiled attempt or retaliation
01:02 of not getting their business.
01:04 Meanwhile, Ventos is saying,
01:05 "We have these patents in place.
01:06 "We actually have a former employee
01:08 "who helped build this software back in 2014
01:11 "who now works at PrizePix."
01:12 So he's implicated in the lawsuit as well,
01:16 allegedly sent emails to himself before he left the company,
01:21 which would be classified as trade secrets
01:23 in Ventos' eyes.
01:24 So they're essentially saying they're entitled
01:25 to all the profits and royalties
01:27 that PrizePix has made from this.
01:29 And with PrizePix, you have to remember,
01:30 it's not like Underdog.
01:32 It's not like these other fans.
01:33 This is the only product they offer is the "Pick 'em."
01:35 It's sort of why the name is PrizePix.
01:37 So this would be their entire business.
01:40 Right now, it's pending in a Georgia court.
01:41 We'll have to see what the judges decide,
01:44 but so far, very interesting that there's been a lot
01:47 of time spent on these arguments.
01:50 So you'd have to think it's not just a nothing lawsuit
01:52 and won't just go away.
01:54 So it'll be interesting to watch,
01:55 especially amid all this turmoil that we're talking about
01:58 with PrizePix and other fantasy companies.
02:00 They have more than enough on their plate right now.
02:03 - I saw this morning, and let's close it out with this.
02:06 As soon as I woke up, not a surprise
02:08 on my social media timeline, Sam,
02:10 the fact that Kentucky was live.
02:12 I think FanDuel's offering a bet a certain amount
02:15 and get a certain amount in bonuses.
02:17 I'm sure this isn't the last we're gonna hear of this today.
02:20 Is there anything to cover over at Legal Sports Report
02:22 for you today, or is it just kind of like,
02:24 see what happens here?
02:25 Because usually sports betting,
02:27 there's a lot of hype to the buildup,
02:28 and then we kind of wait to see what the numbers
02:30 are gonna be in a month.
02:32 - Yeah, definitely.
02:33 It's sort of a yes to both of your questions.
02:36 We're kind of just watching everything going on
02:38 over at legalsportsreport.com.
02:39 We actually have a live blog up,
02:41 ran by our own Pat Evans,
02:42 who's a frequent guest on this show.
02:45 So he's gonna have all the updates on anything going on,
02:48 whether different apps start offering different promos,
02:51 whether there's any snafus with any apps
02:53 or any malfunctions.
02:54 Like we've seen in the past sometimes.
02:55 So you're right that we have to wait a while
02:57 before we get the hardcore betting data,
02:59 but right now we're in the thick of it.
03:01 We'll see what's going on.
03:03 You can go to the website for all that information.
03:05 (upbeat music)
03:08 (bells chiming)