In this week’s edition of blog posts, I wanted to take an approach to digital innovation and it is up to everyone else to further to discussion on the potential positives and negatives we may see with this. I will specifically be talking about the gambling site known as PrizePicks.
First, let me start by clarifying that this is not a blog about my personal views on whether gambling is good or bad. Instead, it is focused on exploring the new era of digital gambling and fostering conversation in the comments. PrizePicks, a DFS game, was founded in 2015 by Alex Wexler, a graduate of the University of Georgia and Terry College. Wexler established PrizePicks with the aim of creating the simplest, fastest, and most entertaining fantasy format possible, encompassing sports such as football, soccer, baseball, hockey, and even e-sports.
PrizePicks have found a way to make sports betting even more gamified with fantasy sports as many play fantasy sports as a way to have fun playing against their friends with their made-up team. Fantasy sports themselves have created what seems like a problem as a majority of users playing DFS are young males. One study showed the horrifying effect of DFS Stating, “Notably, DFS players were four times more likely than other gamblers to report suicidal thoughts in the past year and significantly more likely to report comorbid substance use and abuse, behavioral addictions, and recent mental health problems when compared to other gamblers.”
This area of digital innovation has moreover taken a negative effect on society as the ease of use, access, and clear gamification has taken over. But does everything related to gambling have to be a negative thing? No, many of my friends and I’m sure others will randomly place these types of bets on games they are planning on watching anyway. It adds to the suspensefulness of watching your favorite player playing in the game and makes you much more attentive to everything that is going on. And the thing with PrizePicks and playing with their app is that it doesn’t actually have to comply with certain sports betting rules as you have to choose multiple players from multiple teams, so Wexler and his team used that approach instead of the traditional route.
A big issue with online gambling, in general, was because of the major benefit that was seen with tourism gambling has been stripped away. That major benefit is tourism, I tried to link multiple articles that discussed online gambling being a threat to tourism because it generates jobs and tax revenue from the tourist. But, every article I found had a paywall, what a surprise.
In addition to PrizePicks, the use of digital innovation has played a large role in data and analytics. We’ve seen in the application the use of advanced algorithms and statistical models as users can use this information to make informed decisions. This is something we see in normal fantasy applications where players can look at projected numbers and put them in their lineups based on that idea. And with this, I think the use of analytics helps PrizePicks appear more transparent and seen as a credible source for online sports betting. This helps users that are new to the scene, and want to have a chance at participating with their friends even if they are seasoned veterans.
Another benefit I’ve also seen come from prize picks is the community it brings together through social media platforms like Tiktok and Twitter. PrizePicks even has its own Discord server, allowing a community to discuss their bets, all decide on something, and everyone cheers together. Something like this increases engagement and allows users to engage in friendly competition with fellow strangers on the internet. Just like people playing video games with random people on the internet, it gives the feeling of a wholesome community.
In conclusion, PrizePicks is a perfect example of how digital innovation has changed the way gambling is played. I think the user-friendliness, ease of access, and highly advanced data have allowed people to enjoy watching sports but with something on the line. I’m interested to see how everyone adopts this new technology and I would love to keep the conversation going in the comments as I am curious to hear varying opinions. Lastly, I do want to say I do not use PrizePicks, nor do I gamble, but from my research, I feel as if I have displayed the pros and cons of this technology and I’m not choosing a specific side.
If you have a gambling addiction please reach out to the gambling addiction hotline at 1-800-522-4700
Source: https://link.springer.com/article/10.1007/s10899-018-9744-4#Abs1
Source: https://www.gamblinginsider.com/news/6013/performance-predictions-ceo-were-creating-the-biggest-category-in-fantasy-sports-over-the-next-decade
I have never gambled before; however, I have seen first hand the mental toll sports betting takes on certain friends of mine. I think, like social media, its constant assessability with platforms like PrizePicks is going to lead to long-term damage for members of society. That statistic of DFS players and suicidal thoughts is definitely scary. Like most things, I think PrizePicks in moderation is a super cool innovation, but there will be people who take it too far.
In gambling, users experience the highest highs and lowest lows only to focus on doing it all again. It’s a serious addiction that has been going on for a long time in history. Online gambling simply makes it easier for more people to do it, so I think it will probably have a net negative impact. PrizePicks is cool and fun to use, but the end goal is to get more bettors to lose money. At the end of the day, it’s just a business preying on the people thinking they can get lucky, which never works out in the long run. Interesting stuff!
Hi Connor, I think you did a good job weighing the pros and cons here. PrizePicks is a great example of how digital innovation has impacted the gambling industry, and I happened to meet Adam Wexler at a tailgate last year. I talked to him about the risks of running a somewhat controversial business like PrizePicks and he clearly knew what was going on. After all, he found a loophole big enough for him to run a gambling business in Georgia, which is one of the least gambling-friendly states. The paywall situation is interesting, isn’t it?
Hi Connor, I really enjoyed reading about the development of PrizePicks and the pros and cons of such an application. I like to think back to the movie Moneyball that touches on the use of data and analytics in the sports world. Prizepicks is so fascinating because like you mentioned, it is easy to use, technically legal in all states, and rewards users with big payouts to keep them gambling. I think the use of analytics in the betting world has ethical implications, but am hesitant to cross the line into saying it is unethical because all industries find ways to hijack human’s psychological decision making to turn more profits.
Hey Connor! This is a very interesting blog post. I have never gambled in my life, but I have seen many people use PrizePics or other sporting betting apps/sites. It’s good (or bad) the way that digital innovation has impacted the gambling industry by allowing “online” sports betting compared to doing it in person. I’m very curious on how much more digital innovation will impact gambling in the future.
Hey Connor, very nice blog post. PrizePicks has grown very rapidly within the last year. I also never knew that the founder was from UGA, so that’s really cool. It seems like the app has made sports gambling a lot easier which in the long run gives everyone the chance to participate. Like all gambling though, this can become an unhealthy addiction, so hopefully, the people utilizing the app can find a healthy balance.
Hey Connor! Fascinating post and I believe you brought up some great points and presented some neat information. I did not know that the founder graduated from Terry! That’s really interesting. I like the study you brought up and how DFS players are notably 4 times more likely to have suicidal thoughts. I always see comments underneath players posts bashing them for not hitting their prop line so it’s pretty easy to see their frustration compared to someone who may only bet moneyline. Mattress Mack is a pretty notable name in the gambling industry. He won $75 million on the Astros win last year. He donated $3 million to the bookies by betting TCU against Georgia. He donated another $2 million on the Cowboys to beat the 49ers too. I’ll mention now that Mattress Mack is from Texas, and just recently on Tuesday he noted that he does NOT want Texas to legalize sports betting. His comment on the matter was that he has to drive to Louisiana to place his bets and by being forced to drive down to Louisiana his impulse to place more money is limited.
I agree that it is very user friendly. I use PrizePicks and Underdog myself. I would not agree that there’s an ease of access aspect to it however. The highly advanced data portion is difficult to attain and models must be developed. The last 5 games “statistics” PrizePicks provides is not a tool and in my opinion more of a trap. I’d label PrizePicks as more inclusive since it does provide gambling in states that are considered strict such as Georgia. They’re inclusive for this fact and the fact that they run promos almost weekly.
Also I love that in the Discord screenshot, someone comments that Shai is a lock for over 31.5 pts. I went back to find that comment, it was from 1/30, and SGA dropped 31 points that day. Locks do not exist in DFS. Some people just never understand!
Hey Connor! This is an unbelievably great post! I actually use PrizePicks myself, so I know what you are talking about. I think you did a great job showing how digital innovation has changed the world of gambling, especially through the ways of data and analytics. It’s crazy to see that the founder of this app went to the same school as us!
Nice post. Would have helped to define “DFS” though, since not everyone might know what it is.