If you’re trying to build wealth, you won’t have much luck with today’s measly interest rates. You know better than to trust get-rich-quick schemes, and if you’re counting on winning the lottery, well, your odds are insanely slim. Like, 1 in 300 million slim. But are there any other options that don’t require a huge buy-in?
Yes, there totally are, and one of them is a free banking app called PrizePool. Every month, it pays a $25,000 jackpot to one customer — plus thousands in other prizes. Just for using the account. Seriously.
You’re probably thinking: This is too good to be true; what’s the catch? But there isn’t one. Unlike playing the lotto, you don’t stand to lose anything. Not to mention your odds are way better. In fact, if you had the maximum amount of tickets in September’s drawing, you would’ve had 1:100 odds of winning the $25,000 grand prize.
With PrizePool, you actually stand to get rewarded just for building your own savings. Once you open an account, every dollar you save earns you entries into the monthly drawing. So the more you save, the better your odds.
How You Could Hit a $25K Jackpot — Just for Saving Your Own Money
If you combine the excitement of potentially swimming in money like Scrooge McDuck with your seriousness about saving, you end up with a PrizePool banking account.
So how does PrizePool work, exactly? When you download the free app, you’ll connect your existing bank account and make a deposit. It uses Plaid, a Visa company, to ensure your information is safe and secure. Plus, your deposits are FDIC-insured.
Here’s the fun part: Each day, PrizePool gives you an entry ticket for every dollar you have in your account. So if you have $100 in your account every day in October, you’ll have 3,100 tickets.
Then, on the first of every month, PrizePool enters your tickets into its monthly drawing. (The more tickets you have, the better your chances of winning!)
You could win any amount — from $2 to $25,000. It gives away a combined total of $50,000 in cash prizes. Every. Single. Month.
Unlike the Powerball tickets you keep trying your luck on, there’s no buy-in or fees. If you’re 18 or older and live in the U.S., this is just a safe place to potentially grow your money for free. Even the $2 prize is more than the 60 cents worth of annual interest your current bank would pay you on a $1,000 balance.
Thousands of people have already started saving — and winning — with PrizePool. If you download the app and make a deposit today, you can increase your odds of winning this month’s $25,000 grand prize immediately
Kari Faber is a staff writer at Codetic. She wonders how Scrooge McDuck never broke a bone diving into all those gold coins.