Team and Culture Picks are Yes or No predictions that increase or decrease in value based on the popularity of each position. Team picks focus on sporting events like game outcomes or stat totals. Culture picks focus on topics outside the sports realm, like album release dates, Billboard chart rankings, the price of Bitcoin, or other cultural events.

• How do I make a Team or Culture Pick?
  
  • Navigate to the Team and Culture Board via the Pick Type Switcher at the top of the board. Choose an event, then lock in your expected outcome. Included on the options for YES or NO, you’ll see an estimated payout if that outcome ends up being correct.
  • Make sure you select the outcome you want, then proceed to the checkout screen. From there you can choose your maximum entry fee and submit your pick.
• Can I combine multiple picks?
  
  • No, Team and Culture picks are all single selections. You can make multiple separate picks, but each one will come with its own set of conditions that are not influenced by any other selections you make.
  • If you want to make picks that include more than one selection, check and see if Player Picks are available where you live.
• What are event contracts and how do they work?
  
  • Team and Culture picks have an individual contract price, which serves as a single purchasing unit for that pick. The contract price will fluctuate between $0.00 and $1.00 each, depending on how popular a particular outcome is (more popular outcomes will command a higher price).
• Is there a limit for how many contracts I can buy for one pick?
  
  • You can purchase as many full contracts as your limits allow, but you cannot purchase partial contracts. The dollar amount choose for your entry fee will determine how many contracts you purchase for a single pick, while also accounting for service fees associated with your order. Your final order price will never be more than your entry fee, but it may be slightly less.
• How do service fees work?
  
  • Whenever you buy or sell a Team or Culture pick, a service fee will be applied to your order.
  • The fee amount will vary, ranging from $0.005-$0.02 per contract. Total fees are rounded up to the nearest cent and will be added to your entry fee when purchasing an order, and subtracted from your payout when selling an order.
  • Service fees will only be applied when you submit an order to buy and/or sell contracts; they will not be applied to your payout if you hold onto your pick until it reaches its predetermined closing date.
• Why can’t I choose certain pick types?
  
  • State and regional regulations determine what pick types are available on the PrizePicks app. You can find more information about regional availability on our Help Center - Eligibility page.
• How long do Team and Culture Picks take to settle?
  
  • Each event is different, but you can open the details screen in the app both before and after you make a pick to view that pick’s timeline. You’ll see the date when the pick was first offered (or Opened), when the event is scheduled to reach a conclusion (Close), and when correct predictions will pay out.
• Do I always have to wait until the Close time?
  
  • No, you can sell your pick at any time after you make your purchase order. Your payout will be based on the difference between what your pick was worth when you bought it and what it’s worth when you choose to sell. If you sell your pick before the Close time, there will be a service fee applied to your order.

• Why can’t I use all of my playable balance on Team or Culture picks?
  
  • If you use a deposit method that is accepted for all paid pick types (i.e. Player Picks, Team Picks, and Culture Picks) then your funds can be used to make any kind of pick you want. However, if you use a deposit method that is only accepted for Player Picks (e.g. credit cards, PayPal, etc.), those funds WILL NOT be available to use on Team or Culture Picks. For more information, please refer to our Help Center - Deposits page.
• Why can’t I use my usual deposit method?
  
  • Although PrizePicks offers multiple types of picks, there are regulations that prevent us from making certain payment methods available depending on whether you’re submitting a Team/Culture Pick or a Player Pick Lineup. That means that certain payment methods (such as PayPal, Venmo, and credit cards) will show up on your deposits page for Player Picks, but not for Team and Culture Picks.
• How do withdrawals work?
  
  • You can request a withdrawal to any bank account, PayPal account, Venmo account, or debit card that you have previously used to deposit funds into your PrizePicks account.
  • To request a withdrawal, navigate to the menu located in the top left corner of the PrizePicks app. If you are accessing your account on a browser, the menu is in the top right corner. From here, you can select Request Withdrawal.
  • You'll receive a One Time Password (OTP) code by email as soon as you request your withdrawal. No further action is needed on your part; we will send you an email to confirm whether the withdrawal was successful or not.

• Why am I being asked for my Social Security Number?
  
  • An SSN is legally required in order to participate in Team and Culture picks specifically. Even if you don’t plan to make Team or Culture picks, or if those pick types are not available in your region, there may be situations where we need more information before we can verify your identity.
  • We will securely process your information when we conduct the verification process.
• Why am I being asked for my personal financial information?
  
  • In addition to providing a valid Social Security Number, you will also need to provide a few other details. This includes your annual income, estimated net worth, employment status, and overall experience using federally regulated trading markets.
  • We are required by law to collect this information; you will not be able to use the PrizePicks app unless you provide these details.
• I already completed verification, so why am I being asked again?
  
  • There are a few cases where you will be asked to re-verify in order to unlock your account. This could be due to a long period of account inactivity, or if you delete your account and attempt to reactivate. It could also be due to the additional details that are required in order to make Team and Culture picks.

Yes! Our Responsible Gaming tools make it possible to opt into a voluntary Self-Exclusion period if you need some time away from the app. This will make it so you won’t be able to log into your account for a set period time, and you also won’t receive any marketing notifications until the period is up.

As we continue to develop these tools, we plan to add in spending/usage alerts and limits so you can maximize awareness and control over your activity.

Take a look at our Help Center - Responsible Gaming page for more information.

For Team and Culture picks, the Internal Revenue Service requires PrizePicks to provide you with Form 1099-B, which is an IRS tax document that reports all gains or losses as a result of purchasing and selling event contracts. If you made any Team or Culture picks during the calendar year, we will send that form to you the following February so you can report your gains/losses.