What is PrizePicks and How Does it Work? A Complete Overview

The online gaming world has evolved a lot in recent times. From low-quality PC games to immersive VR gaming, the industry has come a long way to give users a dream experience. But there’s more to the story! What if we tell you that there is more to online gaming than just entertainment? What if you can earn cash rewards while playing your favorite game? That’s exactly what online fantasy gaming sites like PrizePicks offer.

PrizePicks is a name that every fantasy game lover would probably know. For newbies wanting to get started with it, PrizePicks is a popular fantasy game that allows its users to earn real cash by creating a virtual team for the upcoming real-world games. You have to select the players who you think will perform well in the game. The more your player will score, the chances of your winnings will increase likewise. 

Now, you might be thinking it’s the easiest way to earn money online. But is it really as simple as it sounds? Is making money from PrizePicks legal? Does the app really pay? Let’s find out the answers to all these questions in this comprehensive PrizePicks Review. So, let’s get started!

What is PrizePicks?

PrizePicks is a daily fantasy sports (DFS) operator that lets you create a virtual team of players for various real-world games and compete for cash prizes. The game is simple: you select the players who you think will score the most points in the featured game. The higher your team's score, the bigger your reward. You can win up to 25 times your entry fee.

PrizePicks has partnered with various payment platforms to make it easy for you to deposit and withdraw money. The game is only for people who are 21 years or older and live in the United States. However, the game is not available in all states and provinces. 

PrizePicks offers a wide selection of games, including sports like Baseball, Rugby, Basketball, and more. You can also play with players from esports games like League of Legends, Counter-Strike, and Dota 2. 

How Does PrizePicks Work?

As stated, PrizePicks is a US-based Daily Fantasy Sports (DFS) operator and it works similarly to other fantasy sports apps but not like gambling or sports betting sites. 

DFS operators like Prizepicks offer a different and simpler way to play DFS, where players do not have to worry about salary caps, drafts, or opponents. Instead, players simply pick two to five athletes from a list of available options and predict whether they will score more or less than a projected fantasy point total. 

The more picks a player makes and the more accurate they are, the more they can win, up to 25 times their entry fee. 

To play Prizepicks, players need to create an account on their website or app and make a deposit. They can then choose their sport, contest type, entry amount, and picks. After the games are over, the results are calculated and the winners are paid. Prizepicks also offers bonuses, promotions, and referral rewards for its users. 

Is PrizePicks Legal?

PrizePicks is a legal and regulated daily fantasy sports platform that allows players to use all their sports knowledge and win up to 25X their money. The website - www.prizepicks.com is operated by Performance Predictions, Inc., a company based in Atlanta, Georgia, and licensed by the Georgia Lottery Corporation. It is also authorized to operate in 28 other states in the US, as well as Canada, Mexico, and Brazil. 

Unlike traditional sports betting and gambling sites, PrizePicks does not involve wagering on the outcomes of games or events, but rather on the individual performances of athletes. This means that PrizePicks is not subject to the same legal restrictions and regulations that apply to sports betting and gambling sites in many jurisdictions. 

Additionally, PrizePicks is also compliant with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), which prohibits the processing of payments for online gambling activities.

Overall, PrizePicks is a legal fantasy sports app that offers services in most US states. Some legal PrizePicks states include - 

• Alaska
• Arkansas
• California
• Colorado
• Connecticut
• Florida
• Georgia
• Illinois
• Kansas
• Kentucky 
• Michigan
• Minnesota
• Nebraska
• New Mexico
• North Carolina
• North Dakota
• Oklahoma
• Oregon
• Rhode Island
• South Carolina
• South Dakota
• Texas
• Utah
• Washington D.C. 
• West Virginia
• Wisconsin
• Wyoming

Can PrizePicks Be Trusted?

As per our PrizePicks Review, the platform has been operating since 2018, which increases its trust score and can be trusted. As stated above, PrizePicks is a well-regulated and licensed fantasy gaming platform. 

Additionally, it has received mostly positive reviews from its customers, who praise its fast payouts, responsive customer service, and user-friendly interface. 

Here’s a PrizePicks reviews and ratings on different forums - 

• Apple App Store: 4.8 out of 5 stars, based on over 15,000 reviews. 
• Google Play Store: 4.2 out of 5 stars, based on over 19,500 reviews. 
• Trustpilot: 4.4 out of 5 stars, based on over 3,000 reviews. 

Based on these ratings and feedback, it seems that PrizePicks can be trusted as a reliable and fun DFS platform. However, users should always exercise caution and responsibility when engaging in any form of online gambling, and read the terms and conditions carefully before signing up.

Does PrizePicks Actually Pay You?

Yes, PrizePicks pays its players based on two payout systems: Power Play entries and Flex Play entries.

The Power Play option is a high-risk, high-reward entry that requires you to get all your picks right to win a large payout. If you miss even one pick, you get nothing.

The Flex Play option is a more flexible entry that allows you to win a smaller payout even if you don't get all your picks right. You can still win a certain amount depending on how many picks you get correct.

A “Did Not Play” (DNP) situation can affect your payouts in different ways. If a player doesn't play, your entry will be reduced to the next lower one. For example, a 4-Pick Power entry will become a 3-Pick Power entry, a 6-Pick Flex entry will become a 5-Pick Flex entry, and so on. A 2-Pick Power entry in this case will be refunded.

However, if an entry becomes invalid (for example, all players are from the same team), it will be refunded automatically. This ensures fairness and balance regardless of unforeseen DNPs.

Here’s a payout structure of PrizePicks - 

Power Play Payout

Flex Play Payout

What Is Fantasy Score On PrizePicks?

PrizePicks fantasy score refers to a number that a user compares with the player’s actual performance to predict if it will be higher or lower. There is no certainty about the outcome, so each user has to make their own judgment. Therefore, when picking a fantasy score, the user should consider the risk and the potential reward.

Review of Different PrizePicks Game Modes

PrizePicks has just two major games available on the site: flex bets and power play. These games have a lot of variety, but they share the same basic principle. You can choose from a wide range of sports events, including the most popular ones, as well as some unusual ones like truck racing, League of Legends, and CS: GO. 

PrizePicks allows you to bet on the over/under of certain statistics, which simplifies the process. You can also mix and match different sports when creating your own contests. 

The main difference between flex bets and power play is the payout amount, which depends on how many picks you make and how confident you are. The payouts for Flex bets and Powerplay are stated above. 

Here’s a list of popular games available on PrizePicks

• Call of Duty
• CS: GO
• League of Legends
• MLB
• MMA
• NASCAR
• NBA Cricket
• NCAAF
• NHL
• PGA
• Tennis
• Truck Racing
• Valorant
• WNBA
• Rocket League
• Soccer
• Disc Golf

Deposit and Withdraw Options at PrizePicks

The deposits and withdrawals at PrizePicks are quite simple and convenient. Let’s take a deep look into the available deposit and withdrawal methods in this section of the PrizePicks review. 

Deposit Options

PrizePicks offers two deposit options right now. You can either fund your account using PayPal or e-Check. There is no additional option for Debit or credit cards. Additionally, there is a minimum deposit limit, i.e., $20. 

Withdrawal Options

Just like deposits, the PrizePicks Withdrawal options are limited to PayPal and e-Check. For withdrawing using PayPal, you can expect the payment in a few minutes. But if you’re opting for the e-Check option, the money may get settled in your bank account in a week.  

PrizePicks Promo Code and Special Offers 

While researching for PrizePicks Review, we found a lot of promo codes on the internet. The best one among them is a $100 deposit bonus. The promotions and the offers on the platform keep on changing regularly, so it is better to check them before applying. 

Some of the popular PrizePicks promotions include - 

• Flex Friday PrizePicks
• PrizePicks Predictions
• PrizePicks Cheat Sheet Today
• PrizePicks Optimizer

How to Earn Money on PrizePicks?

To earn money on PrizePicks, you need to create an account and a fantasy team. Here’s how you can get started on the platform - 

• Sign in to your account using your unique PrizePicks login credentials. 
• Choose the games you want to play. You can filter the games by sport and pick two to five athletes from different teams. 
• Select the fantasy score for each player. 
• Next, you can choose how much money you want to bet and what type of game you want to play. 
• After you join the contest, you can watch the live scores on the app. When the game is over, the app will automatically calculate your winnings or losses. You can withdraw your winnings or use them to play more games.

Is PrizePicks Worth Your Time and Money?

PrizePicks claims to be the easiest and fastest way to play daily fantasy sports, as users can create an account, make a deposit, and start playing in minutes. The platform also offers a 100% match bonus of up to $100 on the first deposit, as well as daily and monthly leaderboards with cash prizes.

However, PrizePicks also has some drawbacks that users should be aware of - 

First, PrizePicks is not available in all states or countries, as some jurisdictions have strict regulations on online gambling. Second, the platform has a high minimum deposit of $20 and a high minimum withdrawal of $30, which may deter some users who want to play with smaller amounts. Third, PrizePicks customer service is quite outdated, and can only be reached by email or chat. Users may experience delays or difficulties in resolving their issues or complaints.

As per our analysis of this detailed PrizePicks review, we can only say that users should weigh the pros and cons of PrizePicks before deciding whether it is worth their time and money.

5 Best Apps Like PrizePicks (Alternative)

If you think PrizePicks doesn’t live up to your expectations, you probably need a PrizePicks alternative. Below are 5 best apps like PrizePicks - 

#1 ParlayPlay

ParlayPlay is a great app for daily fantasy sports fans who love to play different sports. The platform lets you join contests from popular leagues like the NBA, NFL, NHL, English Premier League, and Major League Baseball. And of course, you can also play with college basketball and football, like most DFS sites.

But what makes ParlayPlay different from other DFS platforms? You can have fun with unique DFS cash games that challenge your sports knowledge and skills. These are some of the daily fantasy sports contest types that you can try:

• Hit It – You choose the stat range that a player will achieve. For example, if you pick a star running back, you can select between options like 0-50 rushing yards; 5-75; 75-100; or 100+ yards.
• More/Less – This is similar to sports betting totals, where you have to decide if a player will get more or less of a stat. For instance, you can bet on Donovan Mitchell to score more than 26.5 points.

#2 ThriveFantasy

If you are looking for apps similar to PrizePicks, ThriveFantasy is probably the one you should choose without any doubt. This is one of the best DFS sites that does not follow the usual salary cap and fantasy team format. Instead, it offers a unique way to play DFS based on how well the players perform. You can choose from two types of single-game contests here:

• Versus – This is similar to Boom's Toss-ups, where you have to pick one player to outperform another in a certain stat category.
• Traditional – This is where you create a 10-man team from a limited pool of players (no salary caps involved). Then, you have to predict whether each player will go over or under a certain stat line. You will earn points for every correct prediction you make.

You can play three of the most popular daily fantasy sports leagues here, such as the MLB, NFL, and NBA. Thrive Fantasy also has huge prize pools for GPP tournaments. These are contests where you compete with other players for big cash prizes in selected games. If you can build the perfect team, you could win a lot of money in the Thrive Fantasy DFS cash game contests.

#3 Underdog Fantasy

Underdog Fantasy is one of the top DFS platforms out there. It has a star-studded group of investors, such as Mark Cuban, Kevin Durant, and Jared Goff, who back its success. Underdog Fantasy offers a wide range of fantasy player prop games, similar to PrizePicks. 

You can find player prop lines for almost every major player in the big U.S. sports leagues on any given day. This DFS app also stands out with its season-long fantasy contests (also known as Best Ball) and other games.

#4 OwnersBox

OwnersBox was launched in 2019. The best sports fantasy site like PrizePicks offers a variety of DFS contests across four major US sports leagues.

You can choose from different contest types, such as:

• Daily Salary Cap Contests – Build your own DFS roster while staying within your budget.
• Lightning Lineups – Select a ready-made lineup of players that will score the most points.
• Create Contests – Make your own DFS Weekly Bracket Contest and invite your friends to join.

Additionally, you can also choose from two game modes, which are:

• Markets – You can decide how much you want to wager on games. You can also cash out early if you want.
• Contests – You have to pay a fixed entry fee. You cannot cash out early and you can win cash prizes by creating the best lineup of players.

#5 Boom Fantasy

Boom Fantasy is a different kind of daily fantasy sports site that started in 2015. Unlike PrizePicks, this DFS operator offers various contests based on fantasy props. You can see below that its three daily fantasy sports contests have some variations:

• Toss-Ups – Pick one player to outperform another in a specific stat (e.g., Steph Curry to score more points than Ja Morant).
• Favorites – Choose if a player will exceed or fall short of a certain stat (e.g., Geritt Cole over/under 7.5 strikeouts).
• Long Shots – Predict if an athlete will do better or worse than their average performance.

The prize money for winning entries depends on the individual game. You can see the payouts for Boom Fantasy contests below, which change based on the number of correct picks:

• Favorites – Pays 1.3x - 3x your entry fee.
• Toss-ups – Pays 3x - 20x your entry fee.
• Long Shots – Pays 10x (two right choices) or 40x (three right choices).

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Is It the Right Time to Invest in Sports Betting App Development? 

With apps like PrizePicks, and Underdog Fantasy getting more and more popularity, the online sports betting industry seems to be more lucrative in the coming future. According to a report by Grand View Research, the global online fantasy sports market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.

The stats above are enough to highlight why investing in sports betting app development can be a need of the hour. However, before launching a sports betting app, one must consider the following factors:

• Legal and Regulatory Aspects: Different countries and regions have different laws and regulations regarding online betting. Some may prohibit or restrict it, so it is important to research and comply with the legal and regulatory frameworks of the target markets before developing and launching a sports betting app.
• Market Analysis and Customer Research: It is essential to understand the needs, preferences, and behaviors of potential customers, as well as the existing competitors and their strategies. 
• Technology and Features: The choice of technology and features will determine the performance, functionality, and security of the sports betting app. Some of the key technologies and features to consider are:

All in all, sports betting app development is a promising and profitable venture, given the current trends and opportunities in the online gambling industry. However, it requires careful planning, research, and execution, as well as compliance with the legal and regulatory aspects of the target markets. So, what are you waiting for? Connect with the best mobile app development company - Mtaog Technologies to get free quotes. 

Conclusion

After analyzing this detailed PrizePicks review, the platform exceeds our expectations in terms of user-friendliness, deposit bonuses, entry fees, and payouts. We also liked their 24/7 customer support offering, which is rare in this fantasy sports industry. 

Overall, we would rate the PrizePicks app 4.8/5 stars. We could have given it 5 stars but its limited deposit and withdrawal options were distressing drawbacks. The platform should consider adding more payment methods. Besides this, we didn’t find anything odd about this platform. Therefore, we recommend giving this fantasy gaming app a try. 

FAQs

Is PrizePicks Legal In California?

Yes, PrizePicks is legal in California as it is a licensed fantasy sports app, regulated by the Georgia Lottery Corporation. 

Where Is PrizePicks Legal?

PrizePicks is legal in over 27 US states, including Alaska, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kansas, Kentucky, Michigan, Minnesota, Nebraska, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, West Virginia, Rhode Island, South Dakota, South Carolina, Texas, Washington D.C., Utah, Wisconsin, and Wyoming.

Is PrizePicks Legal In Texas?

Yes, PrizePicks is legal in Texas as it is a licensed fantasy sports app, regulated by the Georgia Lottery Corporation. 

How Long Does PrizePicks Take To Payout? 

PrizePicks usually pays out within 24 hours of a request, but it may take longer depending on the payment method and the bank.

How To Get Free Entries On PrizePicks? 

PrizePicks free entry is offered to new and existing users through various promotions, such as referrals, social media contests, and loyalty rewards.

How To Withdraw From PrizePicks? 

PrizePicks allows users to withdraw their winnings through PayPal, and e-Check. Users need to verify their identity and have a minimum balance of $30 to request a withdrawal.

Is PrizePicks Or Sleeper Better? 

PrizePicks and Sleeper are different types of fantasy sports platforms. PrizePicks is a prop betting site that lets users pick over or under player stats, while Sleeper is a traditional fantasy league app that lets users draft and manage their own teams. Both have their own advantages and disadvantages, depending on the user's preference and skill level.

What States Are PrizePicks Illegal? 

PrizePicks is legal in most states in the US, except for Arizona, Colorado, Delaware, Hawaii, Idaho, Iowa, Louisiana, Montana, Nevada, New York, Virginia, and Washington. 

What is PrizePicks' Customer Service Number?

You can reach out to PrizePicks customer support at (770) 545-6450 or support@prizepicks.com.