How to Turn $25 Into $10,000,000 or a Tesla Model 3! - Yotta High Yield Savings Account Review
Want to know how you can turn $25 Into $10,000,000 or a Tesla Model 3? While also keeping your $25? Checkout the Yotta Savings Account! Yotta Savings is a new High Yield Savings Account which takes a well known approach to convincing people to part ways with their money...the lottery! But this is so much better than an actual lottery, because you don't lose your money if you don't win! Here's how it works...For every $25 deposited into your Yotta Savings account, you will receive 1 ticket into a weekly jackpot for the chance to win $10 Million! Yes that's right, for $25 you can get a chance at $10 Million dollars. But before I break down how to win, and what the odds are, I want to reiterate that this is actually a savings account, and even without the lottery aspects...it's a pretty good one considering the super low interest rates at the moment. I think Yotta is banking on the fact that many people would rather have their savings with Yotta, even at the current rates, vs taking a risk in the stock market or sitting their money in another account with low interest...oh and of course a chance to win $10Million Dollars!
High Yield Savings Account
The Yotta High Yield Savings Account currently provides a guaranteed .20% interest rate on any cash in your savings account. Oh wait, technically it is not an "interest rate", they refer to it as a Savings Bonus. It does however still function in the same way as you receive your bonus on the first of every month, based on your average daily Yotta balance. So if you don't already have a savings account earning at least .20% interest, then you already have an incentive to try out the Yotta Savings Account. You will earn $2 per year in bonus money for every $1000 you save, in addition to 40 tickets for the weekly drawings based on 1 ticket per $25. That's 40 chances for you to win the weekly $10M jackpot!
Oh wait...it's not really $10M, sorry to say! I took a look at the fine print, and it's actually a $5.8M lump sum payment, which is equal to the current present cash value of a $10M 40 year annuity. If you've ever played the lotto, this is similar to the option you have to choose between a lump sum payment vs taking the money as monthly payments over time. While this is misleading since they advertise the $10M as the jackpot, it is exactly the same as how most lotteries work in the US.
So You're Saying There's a Chance?
Now to talk about the odds of winning, and the smaller prizes outside of the $10M Grand Prize. With Yotta you have a set of 6 Numbers plus a Yotta Ball. This is similar to the Powerball Lottery structure, which has 5 balls plus the Powerball. Powerball has a minimum $20Million jackpot which increases as the jackpot is missed over and over again. In order to win any prize, at minimum, you would need to either get the Yotta Ball number correct, or 3 of the non-Yotta Ball numbers correct. The Yotta Ball will earn you 10 cents per ticket, and 3 of 6 non-Yotta balls will earn you 25 cents per ticket. As you can see on the graph here there are possible cash prizes of 1K $1.5K and $5K. And if you happen to get all of the 6 non-Yotta ball numbers, you could win a Tesla Model 3!
Now looking at the Prize list, you see that some of the prizes say per ticket, and others do not. For the prizes that do not say per ticket, if more than one Yotta Bank member wins the same prize in a given week, that prize is split between all of the winners of that prize tier. Well what if 4 people get 6 non-Yotta balls right? Well I guess you'll be sharing a Tesla Model 3, and I’m driving! No, just kidding, the 4 of you will just split the value of a Tesla Model 3 which is currently $37,990. If you are the only winner of that prize, you can choose to receive cash or a Model 3.
Not a New Concept
This actually is not a new concept. Currently in the UK there's a program called Premium Bond, and it is a lottery bond which has been running since 1956. There's a link on Yotta's website that takes you to the Premium Bond Wikipedia page if you'd like to read more about it.
You can turn pretty much anything into a game, and it will drive more usage just because people like to win, and like to see others win! So if you want to win, using your mobile device click my referral link in the description below. My referral code is AJMOBILEMONEY, and this will get you 100 tickets into the weekly drawings, in addition to 1 ticket for every $25 you deposit into the account.
I mean this is literally a no lose Lottery! In the first week, with just a single $25 deposit and the bonus signup tickets, I was able to win 15cents by getting the Yotta Ball plus one additional number. That’s a .60% return which is already better than the “Savings Bonus rate”, as well as 30X higher than the national rates for Savings Accounts. In the 2nd week, with 2 balls left to go I already have 25 cents in winnings, so it may be slightly higher once I post this blog post. I'll add my total winnings into the post once I edit. Let us know in the comments below if you win anything, and remember to use Code AJMOBILEMONEY!
AJ Mobile Money
Husband | Father | YouTuber | Former ATLien
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