What is PrizePicks? Everything you Need to Know.

What is PrizePicks?

PrizePicks is a single-player daily fantasy (DFS) site that allows its users to create parlay-style tickets on a unique offering of over/under prop bets, mainly centered around specific player performance (otherwise known as player props). Whereas most daily fantasy sites pit user against user, in a salary-cap format, PrizePicks.com makes it simple in that you are only playing against their site’s projections. 

Your goal on PrizePicks is to pick the correct over/under on the prop being offered on all of the props on your ticket. To form an entry on PrizePicks you have to pair two (minimum) to six (maximum) prop bets together. For each prop you add to your ticket, your payout level increases. On PrizePicks, you can now win up to 25x return on your investment on a single 6-way ticket that uses the sites regular prop offerings. 

However, PrizePicks also now offers different styles of props (referred to on their site as demons and goblins) which can alter your payouts as well. These alternate prop offerings give users higher (demons) or lower (goblins) totals to use in their entries if they so please. 

For example, on a regular week, Lamar Jackson’s passing prop on PrizePicks might be set at 224.5 yards. You can take the over or the under on his regular prop if you like. However, Prizepicks may also offer a Jackson demon prop (more than) of 249.5 yards and a Jackson goblin prop (less than) of 199.5 yards.

The catch is that A. you can only take the higher on either of these numbers if you decide to use them and B. when you do use either a demon or goblin prop you will be altering the payout of your ticket and your probability of actually cashing. 

Demon props will boost your payout but make it harder to win (remember, you have to take the ‘more’) while goblin props will lower your overall payout but make it easier for you to hit your ‘more’. 

In general, it’s easiest and often best to stick to the regular prop offerings. However, occasionally when correlating picks Demon or Goblin props may be worth exploring. You can find more information on Demons and Goblins and how they work on PrizePicks here. 

What makes PrizePicks different from other daily fantasy sites?

On PrizePicks – unlike traditional DFS sites like DraftKings or Fanduel – there’s no salary cap, no snake draft, and no peer-to-peer competition. It’s just you vs. the site. Prizepicks is easy and intuitive to use and the number of player props available to choose from ranges across a variety of sports.

On PrizePicks.com you can choose from more/less props on:

• The number of fantasy points a player achieves in a game (based on the site’s fantasy scoring methods)
• The more/less on the number of points scored by a player in the game
• The more/less on other statistical categories offered by the site
  • These can range from (but are not limited to) goals scored in hockey, birdies made in a round of golf, significant strikes landed in an MMA fight, catches by a receiver in an NFL game, or rebounds by a basketball player. 

You can also build your Prizepicks entries across different sporting events which means you almost always have options to build bigger tickets on PrizePicks, even if there’s just one game going on in your favorite sport.

What sports are available on PrizePicks?

While PrizePicks doesn’t offer more/less prop bets on every single active game or player, they do cover a wide base and that includes the following

• The Traditional big four leagues: NFL, NBA, MLB, NHL
  • You can bet on single-game player props in most of the popular statistical categories, but there are also season-long futures props available on the site as well 

• MMA events
  • Props include the number of takedowns, significant strikes landed, and fight time
• Soccer
  • Props include shots, goals, and goals allowed
• Esports
  • Including CSGO props, Rocket League props, Valorant props, League of Legends Props, and Call of Duty props
• USFL
• NCAA College Basketball and NCAA College Football
• The WBNA and Women’s College Basketball
• Boxing
• Tennis
• Disc Golf
• Nascar
• Special events: Hot Dog Eating, All-star Games, etc. 

You can find the entire list of sports and props offered on PrizePicks here. 

It’s important to remember that even though PrizePicks does offer props on all these sports, they won’t necessarily have a player prop offered for every single participant or even every single game.

Limited selection is one downside of PrizePicks.com, but the bigger sports like NBA, NFL, and MLB tend to get a good variety of props on offer that can use to build tickets. You will have to visit the site daily to see what is available, as their offerings will change daily. 

Is PrizePicks Gambling?

PrizePicks is technically a DFS or daily fantasy site. However, its contests do share a lot of similarities to real betting – mainly because you are playing against the house. This makes it a unique operator in the daily fantasy space. 

As it is, PrizePicks is legal in certain states where sports betting is still not legal.

How does PrizePicks work?

PrizePicks asks us to build a single player DFS entry by using its list of props. We must choose at least two props and no more than six.

We also have to make sure that not all of our player props are from the same team. Props can all be from the same game (if we choose) but our entries must have at least two players that are on different teams. 

Once we have set our card, we can then choose from the different payout options on the site, which offer us different risk-reward outcomes to choose from. 

As we mentioned above, most of the props we choose from on PrizePicks are player props. A list of more/less options is set on the site for player performance (covering a wide range of stats and totals) and some of these examples are below.

• NFL: Receptions, total yards (receiving or running), touchdowns scored, passing touchdowns, interceptions
• NBA: Three-point attempts made, assists, rebounds, points + rebounds + assists
• MLB: Hits, strikeouts, total bases

As the image above shows below, we are not limited to simply the basic statistical categories. Categories in the NFL market like “FG made”, “pass attempts” and even “rush yards in the first 5 attempts (of the game)” are available to be picked from. 

Fantasy points are also a category we can bet on, and fantasy scoring props and more/less options are available in several sports on the site.

The site has its own fantasy scoring system so make sure you read up on it before targeting those kinds of props. 

How to play on Prize Picks

Once you have selected your props (and don’t forget, we can mix and match sports) there are two different ways to put your betting card to work on Prize Picks – the Flex Play Option and the Power Play option.

Flex play option

When we enter via the Flex play option, we are taking a smaller risk but at the tradeoff of a smaller reward.

In the flex play, we can still cash if we get one play wrong, but to use the flex play option we also must have at least three plays on our card. Flex play entries then must be between three to six plays.

Below is the payout table for Flex Play entries:

• 3-play flex option - two correct = a 1.25x payout; three correct = 2.0x payout 
• 4-play flex option - three correct = 1.5x payout; four correct = 5.0x payout
• 5-play flex option - three correct = 0.4x payout; four correct = 2.0x payout; five correct = 10.0x payout
• 6-play flex option - four correct = 0.4x payout; five correct = 2.0x payout; six correct = 25.0x payout
  • EX. A $10 6-Pick Flex that goes 6/6 pays $250 total. 
  • EX. A $10 6-Pick Flex that goes 5/6 pays $20 total. 
  • EX. A $10 5-Pick Flex that goes 4/6 pays $4 total

Example of a mixed-sport, three-pick flex play parlay on Prize Picks:

In the above example, we have Patrick Mahomes over 26.5 rush yards (off-screen), Lamar Jackson over 214.5 pass yards (off-screen), and Jalen Brunson over 7.5 assists.

On the $20.00 bet that’s featured in the example above, we’d win $45.00 ($20.00 entry + $25.00) for getting 3/3 correct and $25.00 ($20.00 entry + $5.00) for getting 2/3 correct. 

The flex play option gives us a little breathing room, in that if one of our selections fails, we can still cash. However, the payout on an entry that goes 2 for 3 isn’t great (we’d make $5 on a $20.00 venture). Where we can spice things up is by unchecking the box that says flex play, and choosing the power play option instead. 

Power Play option 

The power play option is a higher-risk, higher-reward option. In the power play option, to win you must get all of your selections correct, no matter how many bets are on your ticket. Whereas we could afford one wrong selection in the flex play option, and still get some kind of payout, any wrong selection in a power play entry means the entry is a loser. 

It’s also worth noting that in the power play option, we can make tickets with only two selections. However, our maximum allowed prop bets on one card is four, giving us a smaller minimum amount of plays allowed but also a smaller maximum allowed than if we used the flex play.

The payouts for the power player option are below:

• 2-play power play option - two correct = 3.0x
• 3-play power play option - three correct = 5.0x payout
• 4-play power play option - four correct = 10.0x payout
  • EX. A $10 2-Pick power play that goes 2/2 pays $30 total. 
  • EX. A $10 3-Pick power play that goes 3/3 pays $50 total. 
  • EX. A $10 4-Pick power play that goes 4/4 pays $100 total

Example of a mixed-sport, three-pick power play parlay on Prize Picks:

We have the same three-pick parlay on our entry from above, but this time have chosen the power play option.

As indicated, we must hit all three of our selections in the entry to get paid. However, our payout for getting three out of three picks correct (5.0x in the power play option) is much larger than it would have been if we had entered via the flex play option (which offers just 2.25x for getting all three picks correct). 

This example exemplifies the difference between the two entry features on prize picks. While the flex play offers us some room for error, the power play rewards us with larger potential prizes.  

PrizePicks strategy

While the conservative nature of the flex play option may appeal to some, the power play option offers us better potential longer-term payouts.

Using the power play option exclusively means you may go through longer dry stretches – where you don’t cash an entry – but the better payouts will almost always make the powerplay entry the better long-term option for players. 

An easy example is below.

Let’s say we play three different tickets over three different days, all with different results, and a $10.00 entry fee:

• Day 1 – $10.00 entry fee and we get 3/3 correct
• Day 2 – $10.00 entry fee and we get 2/3 correct
• Day 3 – $10.00 entry fee and we get 2/3 correct

If we had entered all via power-play option we would see the following profit:

• Day 1 = $10.00 x 5.0 = win $50.00, 
• Day 2 = lose $10.00 entry, Day 3 = lose $10.00 entry 

Power play = $50.00 winnings - 3 x $10.00 entries = $20.00 profit

If we had entered all via flex-play option we would see the following profit:

• Day 1 = $10.00 x 2.25 = win $22.50
• Day 2 = win $12.50
• Day 3 = win $12.50

Flex play = $47.50 winnings - 3 x $10.00 entries = $17.50 profit

Even though we technically won money on all three days with the flex play option, the total winnings over the three tickets remained smaller with the flex play, than with the power-play.

In general, it’s better to take the bigger payouts with the power play as the better odds on offer will make up for any missed opportunities we have to cash tickets with one wrong selection in the flex play. 

What is the optimal number of props to play on prize picks?

As we increase the number of props on our ticket, we obviously also increase the risk we’re taking. Hitting two-player props is much easier than four or five and it’s often not easy to find more than two or three plays, per slate, to have 100% conviction on.

With this in mind, the best strategy is to remember that not every ticket you make on PrizePicks needs to max out at five or six picks. The best advice is often to simply make sure that, on every slate, you are only including your best plays on any entry you submit. Even if that means just making a card with two selections. 

Can we correlate our props on Prize picks?

On PrizePicks, we are allowed to include players from the same game, and even the same team, on our multi-pick entries. Hence, there is the opportunity to correlate our choices with players who will be playing in the same game environment as our initial choice. 

While there are plenty of examples we can look at across most major leagues, one of the most obvious correlation opportunities in DFS exists in football. The correlation between quarterback and receiver is well known in daily fantasy football circles. 

In layman’s terms, the proposition is fairly simple.

Simply put, if we like a quarterback for a big passing day, then we should also like at least one (and potentially multiple) of his receivers to have big days too, since they’ll be the ones catching the passes from the QB.

Hence, if we’re planning on targeting a quarterback with one of our props (either over or under) then we should oftentimes be looking to pair him with one of his receivers on our entry in the same direction (over or under) as well.  

Examples like this exist across all sports though. Below is a two-pick selection that features a correlated entry between two baseball players, playing against each other. 

In the above example (screenshot is from the old PrizePicks interface), we chose Robbie Ray to go over his strikeout total of 6.5 and then added an underprop on the fantasy total of Jesus Aguilar, a batter from the team he was facing.

Since we like Ray for a big day on the mound (e.g. seven strikeouts or more) we can look to press our advantage when we’re correct (and he does go over on strikeouts) by also fading, or going under, on batting or fantasy props for a batter from the opposing team. 

In the above scenario, Ray getting seven strikeouts won’t always lead to us winning on our Aguilar under, but if we do hit on our Ray over it will likely mean a lot of the opposing batters he faced struggled for the day – and make it more likely that Aguilar had a poor outing. 

By making these kinds of correlated plays on PrizePicks we’re also essentially making life easier on ourselves. Instead of having to research multiple games (or players from different game environments) focusing on one situation that we really like, and taking multiple different outcomes from that game, allows us to push the edge in our favorite spots. 

Who can play on PrizePicks?

PrizePicks currently operates real money games in the following states and also operates real money games in Canada:

• Alabama
• Alaska
• Arkansas
• Arizona
• California
• Colorado
• D.C.
• Florida
• Georgia
• Illinois
• Indiana
• Kansas
• Kentucky
• Massachusetts
• Michigan
• Minnesota
• Nebraska
• New York
• New Mexico
• North Carolina
• North Dakota
• Oklahoma
• Oregon
• Rhode Island
• South Carolina
• South Dakota
• Texas
• Utah
• Vermont
• Virginia
• Wisconsin
• Wyoming

PrizePicks also operates in all Canadian provinces except Ontario.

Since PrizePicks is not considered a Sportsbook, you only need to be 18 years of age or older in order to play. While it doesn’t offer single-game wagering on things like point spreads, game totals, and futures (e.g. Super Bowl odds) its focus on single-play daily fantasy sports gives users access to similar style action, which is great for places where sports betting is still illegal. 

One current downside of PrizePicks not being legal in every state is that a user’s  location must be verified before they are allowed to play on the site. There have been instances of players being in eligible states and the site or support not verifying them for play on real money games. 

These issues have been more common in the Android App reviews than in the Apple App review. The iOS App store has much stronger reviews for the PrizePicks app and is rated 4.8/5.0 stars.

How to sign up on PrizePicks

Signing up on the desktop at PrizePicks is simple. There is essentially just one screen of information you need to complete. 

Click the “Sign Up” button and then provide the following information:

• Full name
• Email Address
• Create a Password
• Date of Birth
• Address
• Referral Code

PrizePicks promotions 

PrizePicks will also offer other in-site promotions from time to time to its current user base. These can include further deposit bonuses and can often be found in promotional emails, on notifications from the site, or in-app announcements. Promo codes can often be redeemed for deposit matches or free entries.

Deposit and promo codes aren’t the only extras that PrizePicks offers though. Events like discounted player props, free squares, and pay-out boosts also are a common occurrence on the site and help give players an edge in their long-term play.

Two ways to ensure you catch these promotions is to subscribe to PrizePicks’ emails and notifications alerts when you sign up. Following them on social media can also help. 

Frequently Asked Questions about PrizePicks 

Is PrizePicks legal?

PrizePicks is legal, and able to operate real money games, in the following states:

Alabama, Alaska, Arkansas, Arizona, California, Colorado, D.C, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, Nebraska, New York, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, Wisconsin, Wyoming.

PrizePicks also operates in all Canadian provinces except Ontario.

How to deposit on PrizePicks and banking options

PrizePicks mainly offers PayPal for all deposits and withdrawals. However, PayPal also facilitates credit card transactions within its app. Visa, Mastercard, American Express, and Discover are all supported via guest checkout. E-check deposits are also possible.

PrizePicks deposit methods include:

• PayPal (VISA, MasterCard, American Express, Discover via the PayPal guest checkout)
• Visa Debit/Credit Card  
• Online banking (most major banks)

How to withdraw on PrizePicks

Withdraws on PrizePicks are done via a withdrawal request. Once you submit a request, PrizePicks will contact you with a specific code to implement into the withdrawal form. This is generally seen as an extra security measure by them to reduce fraud. 

Withdrawals are processed via Instant Bank Transfer (e-checks). To start a withdrawal on PrizePicks, go under “your profile” and select “request withdrawal”. 

There are some other details about the withdrawal process on PrizePicks that are worth noting and we’ve summed up the most important below:

• Any withdrawal is subject to a 1x playthrough of your initial deposit & promotional value
  • What this essentially means is that any cash you deposit must be used in an entry in PrizePicks before it can be withdrawn.
  • If you deposit funds, you must use the funds in an entry before withdrawing
• You cannot have any pending deposits on your account before requesting a withdraw
• The minimum withdrawal amount is $1.00
• The maximum withdrawal amount is $1,000 and users can only withdraw $1,000 every seven days
• Withdrawals are generally processed using Instant Bank Transfer (however, they can also be made via direct card payment to your previous deposit method)
• Funds withdrawn from the site should be available within 48 hours

The fact deposits are subject to a 1x playthrough requirement, before being available for withdrawal has been one of the more constant criticisms of the site. It’s a quirk that is worth noting before you deposit. 

Who founded PrizePicks?

PrizePicks was founded back in 2015 by Adam Wexler (current CEO) & Jay Deuskar (current CTO) out of Atlanta.

The site has grown tremendously in recent years with it paying out over $100,000,000 dollars to its users in 2021 alone.  The site is one of the most widespread daily fantasy sites in the USA at the moment and keeps expanding its site offerings and legal states.

This has led to more high profile investors jumping on board including names like Matt Ryan and Tracy McGrady. 

Is PrizePicks a safe and secure place to play?   

PrizePicks has certainly earned a solid reputation as a reputable daily fantasy site or single-player DFS site, and continues to be legal in over 50% of the states in the USA (and in Canada). It offers solid support through its site and online via twitter. 

PrizePicks has grown exponentially and its technology continues to improve alongside its multiple sport offerings. PrizePicks is a legit place to play one-sport daily fantasy and will offer users a unique experience thanks to its various entry methods, wide sport offerings, and a good selection of on-site promotions and bonuses.