Imagine being in Springfield, Mass., in 1891, when James Naismith nailed a peach basket to an overhang in the gym and encouraged his students to throw a ball into it. You couldn’t have known how central to the American experience basketball would become — or how much money it would generate — but 60 years later you would have had an amazing story to tell your grandchildren.

Now their grandkids probably are too busy with their smartphones to care about family lore. But if the youngsters were following Eric Thayer and Joshua Lott on Instagram this month, they still might have witnessed the beginning of a new American pastime, “The Photo Shootout.”

Two photographers. In the same place. Taking their best shots. Competing against each other for the better smartphone image as judged by their Instagram followers.

O.K., maybe it’s closer to televised poker or hot dog eating than NBA hoops — but could this be the brass ring of monetizing Instagram? Imagine it televised on ESPN9 with David Alan Harvey and Donna Ferrato doing shot-by-shot coverage. While you’re at it, get Williams Eggleston for — what else — color commentary. Think of the endorsement possibilities.

Well, maybe not. But they still could be onto something.

Mr. Thayer and Mr. Lott, both freelance news photographers, have been friends and competitors since 2007. They covered the presidential primaries in 2008 and 2012, hurricanes, fires, floods and the shootings in Newtown, Conn., working side by side, usually for different clients. Mr. Lott is based in Phoenix, Mr. Thayer in Brooklyn. They both work often for Reuters and The New York Times.

Photojournalists are naturally competitive. Their clients want the very best image from an event, but usually the photographers want it even more. Mr. Lott and Mr. Thayer may be close friends, but they still want the best image in any situation, with any camera.

“Whenever we work for different clients at the same assignment we’re always looking for a better picture,” Mr. Lott, 34, said during a phone interview from Detroit.

“We’re always trying to one up each other, in the friendliest way,” Mr. Thayer, 39, added. “But I still want to beat him.”

Mr. Lott visited New York City earlier this month and as he and Mr. Thayer hung out, they started photographing in the same places with their smartphones and posting images on Instagram. That same day, a friend of theirs, Pierce Wright at Getty Images, suggested they turn it into a face-off.

Over the course of two weeks they photographed together in New York and then went on a road trip to Chicago and Detroit. As they simultaneously posted photos, their friends and followers weighed in, commenting that this round went to “Team Thayer” or to “Team Lott.”

Left, Joshua Lott. Right, Eric Thayer

The photographers think it was a draw and have parted ways to go back to their respective homes. They hope to continue the competition whenever their paths cross.

Though in each round the photos were taken at the same time no more than a block or two apart from each other, the results often differed dramatically, demonstrating that photography is much more subjective than objective.

During their two-week quest, there were moments of envy. Mr. Thayer wished he had seen the Chicago photo of people walking by mannequins on Michigan Ave first (Slide 4).

Mr. Lott said he would have been happy to have taken the photo with “the cool reflections on the bottom window of the ferry” (above).

In a way, he sort of did. Mr. Thayer explained: “The irony of that photo is that the battery in my phone died and I had to borrow his to take the image.”

It’s like the Olympic ideal of helping your injured opponent across the finish line. We’ll see if such gentlemanly behavior holds up if there is real money pouring into their photo shootouts.

But if this turns out to be a purely amateur event, they could always look at a reality TV show. Perhaps “Shootout Island: Photography Survivor.”

You can find Mr. Lott and Mr. Thayer on Instagram. Follow @joshua_lott, @ericthayer, @JamesEstrin and @nytimesphoto on Twitter. Lens is also on Facebook.