# How Does PrizePicks Work?

In this article, we’re going to discuss PrizePicks betting strategy. PrizePicks is a competitor to Underdog Fantasy and Thrive Fantasy. PrizePicks is technically a DFS platform. However, we’ll be breaking exactly why PrizePicks is a “parlay only” sportsbook with fixed odds.

**How do PrizePicks payouts work?**

On PrizePicks, any entry with two selections comes out to +200 odds. It does ** not** matter what two picks you select. As seen in the picture below, you’re wagering $20 to win $60 ($40 in profit) with a two-pick entry.

As seen in the table below, PrizePicks offers +400 odds on any three-pick entry (e.g. $100 will win $400 in profit if ** all** three picks win). A four-pick entry is +900 odds (e.g. $100 to win $900 in profit). Please note that this is for “Power Plays”

*only*, not “Flex Plays.” Flex Play entries on PrizePicks should be treated completely separately.

Odds | Implied Probability | |

2 Leg Entry | 200 | 0.3333333333 |

3 Leg Entry | 400 | 0.2 |

4 Leg Entry | 900 | 0.1 |

So we now know that two picks on PrizePicks is equivalent to a +200 odds parlay. What does that mean in terms of the “odds” offered on PrizePicks?

The best way to think about PrizePicks is in terms of parlay odds. As seen with a parlay calculator in the screenshot below, if a parlay is +200 odds, then -136.6 is the price of each leg assuming the odds on each bet in the parlay are the same.

So, essentially, PrizePicks is giving you -136.6 “implied odds” on a two pick entry (or two leg parlay). Thus, when you’re comparing the lines on PrizePicks to those on the sportsbooks, you should assume that you’re getting -136.6 odds if you’re playing a 2 pick entry.

For a 3 pick power play on PrizePicks, the implied juice is *worse*. You’re getting -141 implied odds. Thus, 3 pick power plays should be avoided on PrizePicks. Finally, as seen in the table below, 4 Pick Power plays on PrizePicks are -128 odds. As strange as it may be, the 4 pick power plays on PrizePicks are at the best “implied odds.”

Implied Probability of Each Leg | PrizePicks Implied Odds | Breakeven Win % |

2 Leg Entry Power Play | -137 | 0.5773502692 |

3 Leg Entry Power Play | -141 | 0.5848035476 |

4 Leg Entry Power Play | -128 | 0.5623413252 |

Underdog Fantasy is relatively similar to PrizePicks – payouts don’t vary depending on the pick. Just like PrizePicks, on Underdog Fantasy, any two picks = +200 odds. However, things starts to change with three-pick entries.

On Underdog Fantasy, sports bettors get +500 odds for three-pick entries. Remember that PrizePicks only offers +400 odds for three-pick Power Plays. Thus, Underdog Fantasy offers *better* implied odds than PrizePicks, making this platform more advantageous to profitable sports bettors.

A table displaying Underdog Fantasy payouts is below! As seen, three-pick and five-pick entries on Underdog Fantasy have the exact same implied odds at -122.

Underdog Fantasy | Implied Odds | Odds |

2 Pick | -137 | 200 |

3 Pick | -122 | 500 |

4 Pick | -128 | 900 |

5 Pick | -122 | 1900 |

Finally, we’re looking at Thrive Fantasy. Thrive Fantasy offers *better* payouts than both PrizePicks & Underdog Fantasy for every single type of entry – two-pick, three-pick, four-pick and five-pick. The implied odds on Thrive for two-pick entries is just -111, which is very reasonable compared to PrizePicks.

Thrive | Implied Odds | Odds |

2 Pick | -111 | 260 |

3 Pick | -119 | 520 |

4 Pick | -122 | 1000 |

5 Pick | -121 | 1950 |

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