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PrizePool is a new way of saving money where the more you save, the more chances you have of winning one of thousands of cash prizes worth up to $50,000 every month. Risk free, and completely free. One lucky winner will win our grand prize of $25,000, every month. You’ll never lose your deposit. All deposits are FDIC insured and there are no fees or minimums. You’re automatically entered into the monthly drawings just by saving money. It’s that easy.
Every month, thousands of PrizePool users will win cash prizes from $2 and up. One lucky winner will win the Grand Prize of $25,000 – every month!
Nothing! We’re completely free!
Any amount! Even one dollar saved will earn you as many as 30 tickets to enter in the prize drawings, and there are thousands of winners every month. You could even win the Grand Prize!
We’re not; your deposits are held by our partner bank, Evolve Bank & Trust, Member FDIC, and are protected by bank-level security and are FDIC insured up to $250,000.
Absolutely. All bank deposits in the US are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.
The Federal Deposit Insurance Corporation is a US Government agency providing deposit insurance (hence the name) for people using commercial banks. It was created in order to provide consumer trust in the banking system and financial backup in case your bank fails. Being FDIC insured is also a mark of a quality bank, since the FDIC only insures well-run and trustworthy financial instutions.
How does it work
There are over 4,000 winners totaling $50,000 in cash prizes including a $25,000 Grand Prize. Our official rules include a full breakdown of all the prizes.
Every $1 deposited with PrizePool gets you 1 ticket per day. For example, if you have $500 deposited with PrizePool from September 1st to September 30th, you will have 15,000 tickets! All tickets accrued during the month will be entered into the monthly drawing.
Drawings are held at the beginning of every month.
Evolve Bank & Trust, Member FDIC, pays us a small % of the interest pooled on the overall deposit amount but currently, all of this amount is used for the monthly PrizePool.
Where 0.06% interest on a single deposit in a traditional savings account wouldn’t get you very far, we work with our partner bank and pool together the deposit interest on all those deposits. That way, thousands of lucky winners have a chance of winning a life-changing amount of cash, while all users are saving money towards their financial goals.
If you didn’t win, you’re still saving money! You never lose your deposit. And every dollar in PrizePool will accrue new tickets in the following month. And of course, if you want to increase your chances of winning, you could always deposit more. Either way, you’re saving towards your future and your money will never be lost.
When you invite your friends to use PrizePool, they get a referral code which they enter when they create an account. This way, we know they’re your referrals, and both you and your friend win 10% of any prizes they win. Best of all, this works for as long as you’re both using PrizePool!
Here’s an example of how this works, taking you and your friend Sarah to illustrate:
You refer Sarah to PrizePool and she wins that month’s $100 prize. First of all, congratulations to Sarah, but also you both win an additional $10 each ($100 x 10% = $10).
• Sarah wins $110: $100 for her saving prize + $10 for her referral prize
• You won $10 for the month: 10% of Sarah’s $100 prize.
So, in this example, just by using the referral code, the $100 prize actually means we’re giving away $120!
Here’s another example where two of your referrals won prizes, your friends Sarah and John.
Sarah wins the $100 prize and John wins the $20 prize. The breakdown would look like this:
• Sarah wins $110: $100 for her savings prize + $10 for her referral prize
• John wins $22: $20 for his savings prize + $2 for his referral prize
• You win $12: $10 for referring Sarah and getting 10% of her $100 prize + $2 for referring John and getting 10% of his $20 prize.
So, in that example, just by using the referral codes, $120 in prizes actually means we’re giving away $144!
You can see that the more friends you invite to use PrizePool, the more chances you have to win, and the more money we’re giving away. And this extra winning will happen for as long as you and your friends are using PrizePool.