PrizePicks is offering a $50 bonus to new users who make a $5 play. The promotion is running for NFL Week 1.
The PrizePicks Offer
New users need to click “Claim Your $50 Now” on PrizePicks.com, make sure location services are enabled so the platform can verify eligibility, create an account, make a $10 deposit, and enter a $5 contest. PrizePicks will then credit $50 in promo funds to the account.
The offer is most similar to Dabble, which also gives bonus entries to new users. Underdog takes a different approach, offering a 50% deposit match and entry into its Keep Your Million game.
Age Limits
Most users must be at least 18 years old to sign up. Alabama and Colorado users must be 19, while Arizona, Iowa, Louisiana and Massachusetts users must be 21.
How the Contests Work
PrizePicks runs three main contests: Pick ‘Em, Pick ‘Em Arena and Streak. Pick ‘Em is the most common, available in 19 states plus Washington D.C.
In Pick ‘Em, users pick two to six player statistics and guess whether the player will go higher or lower than the projected number. A correct pick pays out, and the platform shows which outcomes are harder or easier to hit.
A Demon pick is a projection square that is red, meaning the prediction is harder to win. A Goblin pick is green and easier. Users must pick “More” on both Demon and Goblin projections to lock in the entry.
Payouts
A Flex Play lets users get picks wrong and still collect money. A $10 entry with two correct picks pays 1x, which is the full entry fee returned. Three correct picks pays 2.25x, so $10 becomes $22.50.
A Power Play requires all picks to be correct to get paid. Three correct picks returns 5x, so a $10 entry pays $50. Users must select at least three picks to be eligible for Flex Play.
Streak and Reboots
Streak is a free-to-play contest. Users make one prediction each day. If it is correct, the streak extends to the next day. As the streak grows, users unlock more rewards, with the cash prize potentially reaching $1 million.
When a player unexpectedly exits a game, entries are modified the same way they would be for a player not participating. The affected leg of the entry is voided, but the other legs remain available. This applies to NFL, college basketball, NBA and WNBA contests when a user selects “More” on a player’s projection.
The Competition
Dabble and Underdog both offer promotions to new users, but their structures differ. PrizePicks’ bonus entries are closest to Dabble’s approach.
What Users Should Know
PrizePicks pays users within 30 minutes of a contest settling. Most lineups are settled once the official score is finalized after a game ends. Users who wait longer than 30 minutes should reach out to the live support team.
Key Facts Box
- $5 play minimum to receive $50 bonus
- $10 minimum deposit to create an account
- Pick ‘Em available in 19 states and Washington D.C.
- Streak cash prize up to $1 million
- PrizePicks pays within 30 minutes of settlement
Payout Comparison
| Contest Type | Minimum Correct Picks | Payout Structure |
|---|---|---|
| Flex Play | 3 | 1x, 2.25x |
| Power Play | All | 5x |
| Streak | Free-to-play | Up to $1 million |
The Verdict
The PrizePicks offer is generous, especially for new users who have not committed to a DFS platform. The $50 bonus arrives quickly after a $5 play.
The contest structure rewards both risk and precision. Flex Play lets users lose a pick and still walk away with money, while Power Play punishes any mistake. Streak offers a long-tail reward for users willing to build a winning streak day by day.
For casual fans who want a simple entry, Flex Play is the easiest way to get in. For players chasing a bigger return, Power Play and Streak offer bigger payouts, but they carry real risk.
The promo code is available now for NFL Week 1, and PrizePicks is making it easy for users to claim it. The platform is competing with Underdog and Dabble for new sign-ups, and users can compare the offers on their own terms.
Source material: “PrizePicks promo code and app review: Play $5, Get $50,” CBS Sports.
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