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Mixing Saving and Gambling...Best of Both Worlds

For the gamblers out there (who lack the same level of skill as I), I have a solution. A way to save and gamble at the same time.


Yotta Bank; https://www.withyotta.com/ (sign up and use referral code JEFFREY125 for a few extra entries). Note: Yotta is safe and FDIC insured up to $250K.


Basically, the more you save, the more lottery tickets you receive (1 weekly recurring ticket for every $25 saved). So, in other words, you don't have to keep depositing money into the savings account; rather, every week, you get a new set of tickets based on total saved to date.


I like the idea. Yotta claims in its "About Us" section:

"Yotta was founded to help Americans become more financially secure. According to the Federal Reserve, 40% of Americans can’t come up with $400 in an emergency. This leaves almost half the country in a financially vulnerable position.

Even though 40% of Americans struggle to save, Americans spend $80 billion on the lottery every year, or $640 per household on average. The lottery is the worst bet you can make - only 50% of what's put in is paid out.


So if the lottery is such a sub-optimal financial decision and saving is so important, why do people under-save and over-spend on the lottery? Because saving is boring. There's no short-term reward. On the other hand, the lottery provides immediate hope, excitement, and fun.

Yotta fixes this problem by making saving instantly fun while also offering better economic value than most savings accounts. With Yotta, you get the chance to win big just by saving. So even in weeks where you don’t win a prize, your money still grows, instead of disappearing like in the lottery. 


The biggest five banks have 50% of the deposits in the U.S. Wells Fargo and Chase pay 0.01% on savings. We partner with high value banks that pay way better rates.


We pool together a portion of the interest from high value banks and offer it via prizes through weekly number draws. We also take a portion and pay it to you no matter what. It’s a win-win."


Prize information and odds are illustrated. For more info, watch my boy Andrei give a description: https://www.youtube.com/watch?v=466P4UPXco8



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