PrizePicks, OG.com enter digital card rip market without a regulator
Two more operators have launched digital pack-opening products that sell chance for a price, joining Fanatics and Underdog in a category no gaming regulator currently supervises.
PrizePicks rolled out a digital trading card product called PrizePicks Packs on 21 October, live in all 50 states and Washington, D.C. The range spans basketball, football and Pokémon cards across nine price tiers running from $1 to $2,500.
Its marquee card is a 2025-26 Topps Chrome Update Cooper Flagg Rookie NBA Debut Patch Auto graded PSA 10, a one-of-one that PrizePicks values at $8.04m and describes as the costliest single-player basketball card in existence. Other cards in the pool, including NBA rookie patch autos for Dylan Harper and Kon Knueppel plus a 1998 Japanese CoroCoro Comic Pikachu, are each valued above $2.3m. PrizePicks said a customer who pulled the Harper card last week sold it straight back to the company for $2.8m.
Eight days after PrizePicks went live, Crypto.com-affiliated operator OG.com launched its own version, OG.com Rips, across NFL, NBA, MLB and Pokémon packs in six price tiers. OG.com runs a trading venue regulated by the Commodity Futures Trading Commission, but the company has said Rips sits outside that oversight and is not a CFTC-regulated product.
OG.com founder and chief executive Kris Marszalek said the format mirrors what the company already does for customers. “Pack ripping is an immediate, physical parallel to the experience OG.com is known for,” he said.
Fanatics was first to the format, introducing Instant Rips through its Fanatics Live breakers in March 2025 and extending the idea to Topps Instant Packs on Fanatics Collect in August. Underdog followed in late August with Underdog Rips, built with partner Phygitals; the company's director of product, Harry Raymond, wrote on LinkedIn that buyers purchased close to 2 million packs in the first week alone.
FanDuel is now testing the format too. Flutter chief executive Dan Taylor told SBC Americas sister reporting that the operator has run early trials of a rips product and that the results so far have been encouraging, though the trial remains limited in scope.
Beyond the major operators, Barron's identified 52 separate websites selling digital repacks this summer, many promoted through social media campaigns featuring celebrities and athletes including Pete Davidson, Michael Vick and Kenneth Walker III.
The mechanics are consistent across platforms. A buyer pays for a pack containing one card that exists physically, typically graded and held in a vault. Opening the pack on screen reveals the card's value, and the buyer can then sell it back to the operator or have it shipped. A $5 pack might yield a $1 card or a $100 one, and each operator sets its own buyback terms and posts odds by tier before purchase.
No gaming regulator currently supervises any of this, leaving age checks, identity verification and spending limits entirely to individual companies, even as lawsuits challenge live breaks and repack formats elsewhere in the collectibles market.
PrizePicks has tried to pre-empt scrutiny, delivering a 70-page legal white paper to state attorneys general ahead of its launch. Jason Barclay, the company's chief legal officer and head of public policy, argued the product changes nothing legally significant about how trading cards have always been sold. “In terms of the mechanics, it is no different than what you did and what I did,” Barclay told SBC Americas, adding that the purchase itself transfers ownership just as it would at a physical card shop, whether or not the pack is later shipped to the buyer.
Barclay pointed to the format's long commercial history, noting that tobacco companies inserted baseball cards into cigarette packs in the late 1800s and that Topps later paired cards with bubble gum before big-box retailers began selling sealed packs at checkout. “Over the last 150 years there have been people who have said it is gambling or like gambling,” he said. “In 150 years of opening tobacco tins and bubble gum cards and physical packs sold at Target, it has been uniform and consistent that it is not.”
The underlying business remains large. Fanatics Collectibles, which holds exclusive Topps licences for the NFL, NBA and MLB, generated roughly $1.6bn in revenue in 2024, according to figures cited by SBC Americas, and is on pace to grow further as the digital rip format spreads across more platforms.