PrizePicks: A Nightmare for sharp bettors

Beware of fantasy platforms

Introduction

I recently stumbled across a YouTube video, which detailed a “Winning” strategy on PrizePicks. This individual claimed they had over $150k in total bets at a 30% profit margin! I wont share the specific YouTube video as I don’t believe in publicly shaming anyone, even if they are a grifter looking to sell “sharp picks”.

I was naturally very curious, as I had heard a lot about these fantasy platforms but I was unfamiliar with the specifics. PrizePicks and similar sites have gained notoriety in the past few years thanks to massive sponsorship deals with YouTubers and podcasters.

After a brief glance at what PrizePicks has to offer, I was floored by just how bad this platform and its “games” are for sharp and casual bettors alike. PrizePicks markets themselves as a Fantasy Sports but they are in practice a Sportsbook.

If you are also unfamiliar with what they offer, it is player prop bets which can only be taken as multis (Parlays). You cannot place singles! The only saving grace in peoples minds is you can alter the payout structure to be slightly better EV as illustrated in the video later on.

If you are unfamiliar with the term Expected Value see this article on why its important in Sports Betting: