Difference between revisions of "PrizePicks"
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| − | This section is responsible for displaying the current or past parlays a user has made on their PrizePicks account. If a user wanted to see how their current parlay they created was doing, all they would have to do would open the 'My Entries' section. | + | This section is responsible for displaying the current or past parlays a user has made on their PrizePicks account. If a user wanted to see how their current parlay they created was doing, all they would have to do would open the 'My Entries' section. It is also possible for the user to see if their flex or power play made any money. After every player in the parlay has completed playing in the game bet on, the user will be able to see if their parlay hit or missed in the past entries tab. Another feature in this section is the all time winnings display as well as the the current credit with the user's PrizePicks account. |
Revision as of 01:55, 10 February 2023
PrizePicks is a Daily Fantasy application based in the United States where users can place bets on strictly player propositions. Similar to other sports betting applications, the company allows consumers to enter daily challenges and win money on individual players performances across the major sports such as the NFL (most popular sport on PrizePicks), MLB, NBA, NHL, NCAA and other various sports.[1] Despite this similarity, PrizePicks exclusively focuses on the performance of individuals on professional sports teams rather than offering bets on the teams in general. This mobile application allows users to place player parlay bets from their phone rather than meeting with a broker. Different from other applications, PrizePicks allows users to be only 18 years old compared with the normal age of 21 to sports bet. Therefore, many wonder if this lower age requirement is morally right.
Contents
History
PrizePicks was founded in 2015 by now CEO, Adam Wexler. Wexler was a graduate from the University of Georgia after he received his BBA degree in real estate. He imagined that he would be a successful commercial real estate broker until he was inspired by Mark Zuckerberg after Facebooks' rise to fame. [2] The idea of PrizePicks was born out of Wexler's own interest in Fantasy Sports and how he wished there was a software that made sports bettors lives easier. Originally, Wexler created a fantasy sports application by the name of SidePrize in 2014 that had the functions of fantasy football with extra games and opportunities as the season of the National Football League (NFL) was ongoing where it was eventually honored by The Fantasy Sports Trade Association. Wexler's company quickly failed in 2016 when SidePrize was challenged in court for being an illegal form of gambling. [3] After a year, Wexler decided to give the industry another shot where he launched PrizePicks and the company has growth since.
How PrizePicks Works
Wagering Process Users are able to connect their bank to their own PrizePicks account where they can deposit or withdraw as little as ten dollars. PrizePicks allows you to place up to six player propositions per parlay for a chance to win up to thirty times the money you wager; the more players you include in your wager, the more money you can potentially win if managed to guess correctly. [4] Obviously, the odds of correctly predicting six player propositions is extremely low, however a user can chose as low as two player proposition with less return. If a user correctly predicts a parlay, PrizePicks will reward them based on the amount of players in the parlay they created. They will instantly put the money they earned from that parlay into their own personal PrizePicks account where the user can either continue making bets or withdraw their earnings.
Betting Options
In a typical sportsbook, a user can either bet on certain teams or players where if they were to make a parlay they would have to get every player or team in the parlay correct. An aspect that is different from other major sports betting websites is that PrizePicks offers an option for users to select whether they want to 'flex' their parlays meaning that they can still win money if they get one of the player props wrong. [5] In PrizePicks, you can only make parlays meaning that you can only bet on multiple player propositions being over or under the line given by PrizePicks.
Interface of Application
Creating an Account In order to operate PrizePicks, users are first prompted to make their own account using an email and password.
Board
The board section of the PrizePicks app gives the user the many options of who they can place bets on. This is where users can pick and choose what players in what sport they can bet over or under on. Categories of what the user can bet on are listed on the top of the board where they can scroll to see what is available from the National Basketball Association (NBA) to Mix Martial Arts (MMA). Within each sport available to bet on for PrizePicks, each sport has specific categories that a user can bet on. For example, if a user wanted to create a parlay with a NHL player they have the option to bet on if a certain player will have more or less shots on goal, point, goalie saves or hits in the game for that day. For more popular betting sports such as the four major sports in the United States which are the NFL, NBA, MLB and NHL, PrizePicks will often give the user the option to see how well the specific player chosen performed up to the last five games. These features all help build a users parlay.
My Entries This section is responsible for displaying the current or past parlays a user has made on their PrizePicks account. If a user wanted to see how their current parlay they created was doing, all they would have to do would open the 'My Entries' section. It is also possible for the user to see if their flex or power play made any money. After every player in the parlay has completed playing in the game bet on, the user will be able to see if their parlay hit or missed in the past entries tab. Another feature in this section is the all time winnings display as well as the the current credit with the user's PrizePicks account.
Promo Code
Request Withdraw
Help Center
Ethical Concerns
Addiction Different from other sports betting applications, PrizePicks allows users to be only 18 years old compared to the normal sports betting age of 21. From this, some question whether the loophole for younger sports bettors is morally ethical. Some argue that the age limit for PrizePicks is fine as is while others believe that it creates an unhealthy early addiction for users. Across the United States, there was a total of $13 billion wagered on sports with legal operators in 2019 alone. [6] Even though most adults who bet on sports do so in a manner without repercussions, about 1% struggle with addiction with applications like PrizePicks. Furthermore, many of those struggling with this addiction rarely seek out for help. In fact, about 6% of college students in the United States have a serious sports betting problem that can eventually lead to psychological difficulties and unmanageable debt. [7] In regard to the lower age requirement for PrizePicks, some argue that young adults are not responsible enough to wager their own money in a responsible way.
Advertising PrizePicks is eligible for users above 18 years old living in 31 of the 50 states. Given this, the company has made sure to advertise their application so many potential users can see. They do this in many ways but a majority of their advertising comes from pop-up adds as well as commercial advertisements. [8] Most of the people PrizePicks seems to target are within 18 - 24 years of age since that is the age of a majority of their users. A recent commercial advertisement has been displayed on many sports broadcasting networks as well as it has been shown on Youtube. Many of their advertisements offer promo codes where if a user signs up for PrizePicks and enters the given promo code, they will receive what is called a 100% match deposit where the user will receive double the amount of money deposited in their new PrizePicks account. [9] This persuades any advertisement viewer to choose their application over others because of how they off the user double their money. Considering that these advertisements are displayed on networks and sites where many young adults browse, many question whether or not these advertisements have had negative impacts.
Normalization of Gambling Along with many other sports betting websites, PrizePicks has become a normality among many young adults. Through advertising and exposure, sports betting companies have gained revenue of about 4.33 billion dollars in 2021 alone. [10] From PrizePicks and sports betting in general, many people have made livings. These sports betting influencers commonly make social media content where they provide viewers their best bets. In fact, many sports betting communities have formed from the creation of PrizePicks. One example of this is with the BookItSports community where influences live stream on Twitch bets where they have leans on. [11]
References
1. Coles, R., Robert ColesRobert's working to help fellow casual bettors find an edge and become more engaged with betting trends and picks. Whether it be NFL, Robert's working to help fellow casual bettors find an edge and become more engaged with betting trends and picks. Whether it be NFL, Mantini, J., & Caraviello, D. (2021, June 18). What is prizepicks? the new age of Daily Fantasy. USBettingReport.com. Retrieved January 22, 2023, from https://usbettingreport.com/sports-betting/what-is-prizepicks-the-new-age-of-daily-fantasy/
2. Sports gambling site posing as fantasy platform, suit says. Law360. (n.d.). Retrieved January 22, 2023, from https://www.law360.com/articles/1476308/sports-gambling-site-posing-as-fantasy-platform-suit-says
3. Prizepicks Review. BettingData. (n.d.). Retrieved January 22, 2023, from https://bettingdata.com/prizepicks-review
4. Network, I. N. (2022, August 16). Prizepicks named the fastest-growing sports company in America as part of the 2022 inc. 5000 list. INN. Retrieved January 22, 2023, from https://investingnews.com/prizepicks-named-the-fastest-growing-sports-company-in-america-as-part-of-the-2022-inc-5000-list/
5. What sports does PrizePicks offer? PrizePicks. (n.d.). Retrieved January 25, 2023, from https://prizepicks.com/resources/prizepicks-what-sports-does-prizepicks-have
6. Prizepicks.com Traffic Analytics & Market Share | similarweb. (n.d.). Retrieved January 26, 2023, from https://www.similarweb.com/website/prizepicks.com/
7. Mercer, M. (2022, July 12). As sports betting grows, states tackle teenage problem gambling. The Pew Charitable Trusts. Retrieved January 26, 2023, from https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2022/07/12/as-sports-betting-grows-states-tackle-teenage-problem-gambling
8. Guerrier, K. (2022, September 8). Is the normalization of sports gambling harmful? The Famuan. Retrieved January 26, 2023, from http://www.thefamuanonline.com/2022/09/08/is-the-normalization-of-sports-gambling-harmful/http://www.thefamuanonline.com/2022/_http://www.thefamuanonline.com/2022/09/08/is-the-normalization-of-sports-gambling-harmful//08/is-the-normalization-of-sports-gambling-harmful/
9. Wyld, D. (2021, December 27). The young demo of online sports betting. Medium. Retrieved January 26, 2023, from https://medium.com/modern-business/the-young-demo-of-online-sports-betting-c595f7dcefaa
10. Cole, D. (2021, October 13). Wexler makes fantasy sports real with Prizepicks. Atlanta Jewish Times. Retrieved January 27, 2023, from https://www.atlantajewishtimes.com/wexler-makes-fantasy-sports-real-with-prizepicks/
11. Fazio, M. (2021, April 1). It's easy (and legal) to bet on sports. do young adults know the risks? The New York Times. Retrieved January 27, 2023, from https://www.nytimes.com/2021/04/01/sports/sports-betting-addiction.html
