PrizePicks
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. 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 managed to guess correctly. An aspect that is different from other major sports betting websites is that they offer 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.
https://www.atlantajewishtimes.com/wexler-makes-fantasy-sports-real-with-prizepicks/ Summary of the founder and CEO, Adam Wexler. Graduated out of University of Georgia. App was born out of Wexler's own interest in Fantasy Sports. https://bettingdata.com/prizepicks-review More on company origin and how entire industry was being tried in court. Mention in summary that the app allows 18+ users rather than traditional 21+ to set up context.
History
PrizePicks was founded in 2015 by now CEO, Adam Wexler. 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.
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.
Betting Options
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.
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. A lawsuit was filed against PrizePicks as the platform are different from typical fantasy sport platforms https://www.law360.com/articles/1476308/sports-gambling-site-posing-as-fantasy-platform-suit-says
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. [2]
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
