SOURCE: Pickheads

March 13, 2007 09:00 ET

Pickheads Launches Website Combining Fantasy Sports Wagering and Prediction Markets in Time for March Madness

Free Online Service Harnesses the Wisdom of Crowds to Predict Outcome of Sports Matchups

SAN FRANCISCO, CA -- (MARKET WIRE) -- March 13, 2007 -- Pickheads today announced the public release of its fantasy sports wagering and prediction platform. Pickheads (www.pickheads.com) is a free, online service that blends fantasy sports with social networking and enables users to synthesize, share and collaborate on views on professional sports matchups. In a nutshell, Pickheads:

--  assembles a rich set of data, news and live odds to help research
    upcoming games
--  provides a platform to input, share and collaborate on sports outcome
    predictions
--  aggregates and displays community consensus picks
--  gives users communication tools to invite friends to join the debate
--  tracks "earnings" fantasy-style to measure individual performance.
    
Wisdom of Crowds

Pickheads was built on the premise that groups of informed people are collectively smarter -- and better at predicting future outcomes -- than the so-called "experts." By collecting predictions from a community of users, Pickheads is able to distill the collective wisdom of informed sports fans down to a manageable set of numbers. Letting users back their predictions with virtual bets enables Pickheads to create an effective prediction market for forecasting sporting event outcomes. Since community members are profiled on a leaderboard, top performers having the highest winning percentage and overall "earnings" can also be easily identified.

Better than Darts, Coin Flips and Mascots

With March Madness approaching, millions of Americans will soon be eagerly researching matchups and preparing to fill out office pool bracket sheets. Pickheads takes some of the guesswork out by gathering consensus picks, model-based predicted spreads and various matchup insights for all scheduled tournament games. Users can also solicit friends' opinions using a Picksheet, which, like an online invite, is a private webpage that can be emailed to a select group of people.

About Pickheads

Pickheads is a Silicon Valley-based company founded by Wayne Teng, Raymond Chen and Asher Matsuda. The three friends and avid sports fans decided to bring their years of information technology and analytics experience together to build a social prediction platform dedicated to sports. Pickheads is free to use and will be supported by advertising. The service is strictly for entertainment purposes and is not to be used in connection with any form of gambling. Visit www.pickheads.com or send email to info@pickheads.com for more information.

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