NEW YORK, May 1, 2025 /PRNewswire/ — If everyone likes to win money, then why don’t most people gamble? The founders of Layup—a groundbreaking new fintech startup—think it comes down to more than fear of losing money. The incentives that power the gaming industry also push people away. Inspired by Prize Bonds in Ireland, the founders’ native country, Layup flips the incentives, redefining what it means to play—and win.
Layup is a sports game built for every U.S. sports fan, not just gamblers. The app generates daily sports picks for users, similar to a parlay, but instead of betting their deposit, they save it. Every pick earns a chance to win real cash prizes, but their principal always stays safe.
The concept is based on Irish Prize Bonds, which are operationally a lottery funded by the interest earned on the $5 billion worth of deposits in the program. But in Ireland, it’s much more significant: Prize Bonds are a safe, fun, and trusted way to enjoy the thrill of winning without the risk of financial loss.
“We think we’re offering something that no one else in the U.S. is, and we’ve more than doubled our active users over the past month,” said Owen Monagan, co-founder and CEO of Layup. “I think the message behind our product is resonating. It’s a sports game where all of the outcomes are good. You either win money or save money. If we’re doing our job right, you’ll do both.”
Built on Trust, Not Temptation
All funds deposited through Layup go directly into accounts held by nbkc bank, Member FDIC, where they’re held safely and can be withdrawn at any time. The bank pays Layup a monthly fee to attract savers, and Layup uses that to fund its prize payouts. In short: no hidden fees, no middlemen, no “house,” no downside.
The model is backed by the American Savings Promotion Act of 2014, common-sense bipartisan legislation focused on helping average Americans.
“In Ireland, products like Prize Bonds are so trusted that kids use them,” said Oisín Tiernan, co-founder and CTO of Layup. “I’ve had one since I was a 1-year-old. It was a gift from my godmother. We wanted to take that same concept and bring it to the U.S., using the same energy that has made legal sports betting so popular and channel it into a product that is safe and fun.”
A Real Solution to a Real Problem
Layup isn’t just a clever twist on saving—it’s a timely answer to an urgent issue. In 2024, Americans lost approximately $8 billion on parlay bets, a form of sports gambling especially popular among young men. At the same time, this same group is facing historically low savings rates and increasing financial stress.
“What makes me proudest is what the data is starting to show: After 30 days, 60% of our users say they’re betting less on traditional sportsbook apps,” Monagan said. “That’s not just a behavior shift—it’s a financial pivot. We’re turning a costly habit into a healthy one.”
The academic research backs it up: Studies have indicated or outright stated that prize-linked savings products such as Layup can cannibalize gambling spending and turn it into savings.
“We’re not doing this out of pure altruism,” Monagan said. “We believe Layup is founded on a sound business strategy. Sportsbooks are so focused on taking as much money as possible from their customers that they’ve created space for us to create a successful business focused on doing the opposite.”
Layup is available on iOS and Android. For more, visit www.trylayup.com.
About Layup
Layup is a fintech startup transforming how Americans engage with money and sports by combining the excitement of daily sports picks with the safety and benefits of prize-linked savings. Learn more at www.trylayup.com.
Layup is a financial technology company, not a bank. By utilizing the services, your beneficial funds may be held at nbkc bank, Member FDIC, in an omnibus custodial account. Layup is not FDIC-insured. FDIC insurance only covers the failure of an insured bank.
Contacts:
Owen Monagan, Layup, 394378@email4pr.com
Zack Hall, ZH Communications, 394378@email4pr.com, 5418766811
SOURCE Layup
