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Yotta Savings Review

Yotta is a free prize-linked savings account where users get a base rate high-yield percentage, plus the ability to win prizes on top of that.

Inspired by the Premium Bonds program in the UK, users can make a deposit and get one recurring lottery ticket for every $25 saved.

You can withdraw your funds at any time, up to 6x per month.

How it works:

  1. Open a Yotta account and deposit money. Every $25 on deposits on Yotta up to the first $10,000 of balance gets you a recurring ticket into weekly number draws.
  2. New users can get 125 free tickets into the next week’s contest with our exclusive promo code “LUCKY”
  3. Every Monday, pick 7 numbers for each of your tickets. Numbers will be auto-picked randomly if you forget.
  4. Contests are weekly, with one number drawn daily at 9 pm ET.
  5. Collect your winnings. The more numbers you match, the more money you win. There’s a $10 million jackpot.

Is Yotta Savings Safe to Use?

Yotta is FDIC insured via Evolve Bank and Trust Bank for funds up to $250,000.

For security, Yotta uses military-grade, 256-bit AES encryption, access control, and secure processes to ensure your money is safe.

Is the Yotta Savings Lottery Rigged? How Are Numbers Drawn?

Yotta works with a third-party insurance carrier to randomly draw the lottery numbers. The insurance company is not affiliated with Yotta, and uses a state-of-the-art random number generator to draw numbers.

It's a double-blind system since the insurance company has no way to see the numbers users pick or the tickets.

In the event that there is a 10 million dollar* jackpot winner, it would be paid out by the insurance partner.

*The grand prize will be paid as a one-time, lump-sum payment of $5,800,000. This is the current present cash value of a $10,000,000, 40-year annuity.

Learn more about Yotta how it works in Mandy’s video:

Expected Value of Yotta Savings: calculator

Yotta is interesting because of the effective APY — right now, it’s substantially higher than other options on the market. Let’s dig into the official rules to calculate the expected value.

How Much Interest Does Yotta Savings Pay?

The expected value of a Yotta ticket (and the effective APY) depends on probability. Expected value is not a guaranteed interest rate.

For prizes above $999, payouts are split. The more people playing, the higher odds of splitting. i.e., if 2 people hit the requirement for the $1,500 prize, each would get $750 instead.

Theoretical best case = 3.36% prizes + 0.2% APY = 3.56% effective APY.

Theoretical worst case = 1.45% prizes + 0.2% APY = 1.65% effective APY.

In reality, it will be between these two numbers, depending on the tickets in play.

If 4 million weekly tickets = 2% effective APY.

If 9 million weekly tickets = 1.94% effective APY.

If 45 million weekly tickets = 1.87% effective APY.

If 450 million weekly tickets = 1.8% effective APY.

In the short term, we should reasonably expect 1.87% to 2% APY as the expected range.

We created a calculator for you to crunch the numbers and enter values.

Get a copy of the spreadsheet here:

Overall Thoughts

Overall, Yotta Savings is offering one of the most competitive APY rates on the market due to the prizes. With the base interest rate on saved money, the prizes you could potentially win make it an interesting product.

The only concern is how long they can maintain the current interest rates. Will update the post if anything significant happens.

September 2020 Update

First Impressions Video

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