Have You Tried Yotta? I Love It!

I’m totally hooked on Yotta, a bank account with a weekly lottery for up to $10 million.

When a friend mentioned it a few weeks ago, my first thought was, “That can’t be right.” But I’ve researched it quite a bit and signed up to experience it first hand, and it’s completely legitimate. It works exactly as advertised.

The way Yotta works is that you sign up for the app, deposit as little as $25 into a bank account, and you receive 1 weekly lottery ticket for every $25 in the account. You can also earn temporary tickets through referrals (you can get 100 tickets if you use code JAMEY2, for example).

Then the fun begins. Every night at 8:00 pm CT, a number is drawn by a third-party company and sent to Yotta. You’ll get a notification that indicates how many of your tickets have that number. This continues every night of the week until 7 numbers are drawn and applied to all tickets.

For each matching number on any of your tickets, you’ll win a small amount of money (see the image here). The asterisk means that you split the money with everyone else who had the same number of matching numbers. The friend who recommended Yotta to me matched 5 numbers a few weeks ago, but he had to split the $1500 with several other people.

Also, one element I didn’t fully realize at first is that just because most of your tickets don’t match the first day’s number doesn’t mean those tickets are irrelevant. Last week, 90 of my tickets matched on the first day, and while only a few of them matched the second day’s number, a bunch of other tickets matched that number. It’s pretty exciting to have 4 days left and already have a bunch of matching tickets.

You also earn a base interest rate of 0.20%, which isn’t much, but it can easily exceed current rates when added to even a small number of matching tickets. After two weeks of being on Yotta, my effective interest rate is 0.61%, and I haven’t matched more than 3 numbers yet.

Yotta isn’t technically a bank–rather, it’s an app that’s connected to Evolve Bank & Trust, which–through the FDIC–insures your deposits. You can withdraw your money whenever you want.

I’m having more fun with Yotta than I’ve ever had with a bank account. I’d highly recommend it, even if you only put $25 into the account (and get an extra 100 tickets using the JAMEY2 code; if you do, I’ll get 100 extra tickets too!). Let me know if you enjoy it!

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