Check out Yotta Savings:
Use our exclusive promo code “LUCKY” to get 125 free tickets (one-time) with any deposit (new users). Email says 100, but 125 is hard coded in the back end. Check app to see tickets.
[ Yotta Review + Calculator ]
More information on prize-linked savings and Yotta on Mandy Roams:
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.
0:00 Evolution of Banking
1:59 Prize-linked Savings
03:25 Math Behind the Numbers
6:26 Is Yotta a Safe to Use?
📈 Get 2 Free Stocks on WeBull when you deposit $100:
💰 Get $10 in Free Stock from Public:
M1 Finance free checking account & fractional shares investing:
Keep your cards organized: Filmed on this:
#YottaSavings
Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which AskSebby will earn an affiliate commission or referral bonus. AskSebby is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available
📈 Investing Apps:
Get 2 Free Stocks on WeBull when you deposit $100:
💰 Get $10 in Free Stock:
Invest for Free with M1 Finance:
Frequently asked questions about camera:
Camera Gear:
Camera:
Lav mic:
Recorder:
Bendy Tripod:
You’ll need this for the bendy tripod:
Music I use in videos:
Useful stuff:
🍔 $7 Off your first DoorDash order:
Best headphones for travel:
Monitor:
Card organizer:
Away Luggage:
Support our channel by shopping on Amazon!
Follow us for updates:
YouTube Subscribe:
Newsletter:
Facebook:
Twitter:
Instagram:
Mandy’s YouTube:
Mandy’s Instagram:
49 comments
I did get similar numbers on my own independent calculation. Although I do gotta note that considering 81% of the US actually owns smartphones and of that smartphone app retentions are fairly low so even with inflated retention on the app, it is very unlikely that "opportunity-cost" return to be below 3%. (Provided that the deposits are of multiples of 25)
ANDREI
Niche product.
Like crypto savings accounts better. APY 8%
Lol andrei and his tricks
So from a tax reporting point of view this sounds like it would be a PITA.
Wow, how pepople even come up with these business ideas? But feels like small product for those who spend money on lottery tickets anyway
Deep Dive into HM Bradley!
"so doing all the boring math" hahah…but wait I love the boring math
Decided not to try this. It's pretty clear that they are artificially pumping the effective APY to around 3% using venture capital money to get a lot of users, then will cut it down to 1% or below. Not worth the hassle imo
I feel like the one thing the calculated interest rate isn't taking into account is all these bonus tickets floating around. For example, if you're getting tickets for each referral, how are those factored into the effective interest rate?
I may give it a go for a few months, and just see what my actual effective rate is. The 1% I'm getting from Ally isn't hard to beat.
Thanks for the video. As it seems many of us are concerned in going this route, could you do a video on where we SHOULD place our money with out gimmicks. Interest rates are low but many banks are offering bonuses if enough money is placed with them. I have 50k+ to deposit…. Capital One used to have a 2% plus $500 for that 50k if you kept it with them for 3 months. As bank bonuses are similar to CC bonuses, I'd think it would be right up your alley! 🙂 Does anyone else feel the same way?
Freakonomics did a study on this and this is THE way to get people to save. Something must have changed because it was against the federal rules at the time of their article (states don’t like losing lottery money)
The cut scenes are super noticeable and unnecessary lol
What do you think of hmbradley ?
"One point five thousand" What the F#$%?
Hi Sebby, I'd like to apologize to you. I just got approved for the CSP and meant to use your referral link but completely forgot. Sorry about that man really wanted to support the channel and what you do.
I'd sacrifice my $1 of yearly interest for a chance at $1million.
In the before time…
I've been using Yotta after watching Mandy's video, and I'm really enjoying it! After only two weeks, I've won almost $5. Keep in mind I transferred my whole account from the American Express Savings account, which had given me only $3 and some change for one month. Not bad and it's super fun to see what the number will be every night!!
Are the referral tickets recurring? Or a one off for a week?
I signed up the day you posted this video and so far I really like it. Won 20 cents so far lol. But that was only with 12 tickets. This week I have 129. I can definitely see this as a good incentive to get people to save.
I signed up thanks to your link- I’m afraid they’re eventually going to whittle down the winnings slowly to as their customer acquisition budget runs out. But this is a good short term option
What about taxes? Will earnings be taxed at a different rate than normal interest because its technically contest winnings?
Naw, not for me.
Oh god! Sebby sorry for this slew of comments. My previous comment about turning the odds chart in to a returns chart is wrong! It is correct to take the expected value and divide by 25.
I had a small amount of money doing absolutely nothing in a Chase savings account so I decided to use the link to sign up. I hope it helps the channel!
Congrats on winning 375 dollars today, Seb! I'm pretty sure it was you when I saw this week's "Top Winners." LOL
After the first week ended, all of the bonus 125 tickets vanished, FYI
Congrats to both of you for winning big last week!
Tried to use the code, but since the deposit was during the middle of the week I only got 25 bonus tickets not 100.
Yotta changed their Referral System to Tier level to aggressively get referrals. Getting borderline of scam/fraud like a Pyramid Scheme. Getting very suspicious. Dont put too much money in it guys.
Tier 1: 0-2 referrals = 100 free/referral tickets
Tier 2: 3-5 referrals = 150 referral / 300 free tickets
Tier 3: 6-9 referrals = 200 referral / 600 free + 5% extra weekly tickets
Tier 4: 10+ referrals = 250 referral / 1000 free + 10% extra weekly tickets
Just a warning to people watching this video as of September 21, 2020. They made the odds of the YottaBall fall from 1:44 to 1:63, so the new rates are 2.26% to 4.85%. Still good, but they are starting to take action so it may continue to fall.
Yotta announced today they’re changing their second price to a Tesla which is interesting… also yotta ball is now 1-63 rather than 1-25. Can you make an update video of your returns and also the lowering of winning chance with this update?
Are you platinum status yet? I subbed with your code. 😉
I got lost when you said one point five thousand. You mean One thousand five hundred. 🙂
[ Sept 2020 Updated Video w/ New Rates ] https://youtu.be/eb5F2K-OWE8
Graham Stephan brought me here
Is there a hard pull on application?
Using Yotta reminds me a lot of HQ Trivia. Having a small game to look forward to everyday is pretty fun. Even robo advisors like Wealthfront are implementing prize linked savings (which users actually voted for on customer surveys). With interest rates so low anyway, there’s not much to lose. I’d try it while it’s still low key.
My own referral for 100 bonus tickets in case you’re feeling generous: DARREN5
You'd be more likely to win a 350M Powerball jackpot 112 times totaling $39,200,000,000 then you are likely to win the 10M prize on Yotta so… damn!
I love the idea, It is most definitely going to help people get their finances sorted out and save a bit more money, but as someone driven to maximize your personal finances, yall should really keep these rates in mind.
Hey man, any plans on keeping that spreadsheet up to date in case rates, number pool, payouts, etc. change? No worries if not!
How does the .20% interest work? Is it monthly? For example, if I were to deposit $10000 into my Yotta Savings account, then would I receive $20 a month plus the potential prizes?
One thing to note is that Yotta immediately competes with most high yield savings account ever since RONA hit the market and interest rates on even really good banks like ALLY(Which was 1.6% at the start of 2020 and is now down to 0.6%.) pretty much guaranteed. It has a 0.2% "interest" rate(It's not real interest, but it is guaranteed money like interest). Then just with the Yotta Ball you gain an additional 0.33% interest. (*)That's 0.53% APY basically guaranteed. It's basically already caught up to the once very popular Allybank. Right now the best high yield savings accounts go up to 0.8%.
*This depends on how random its random ticket selection is, if the algorithm intentionally avoids stacking too many of the same yotta ball across hundreds of tickets, which would happen to a small % of users if the selection was truly random. And obviously nobody is manually filling out 1000 tickets for their $25,000 balance to maximize an average weekly return my equally distrubuting yotta ball. Which I would probably do if they had a webpage so I could easily automate such a process.
It’s the future of savings account for a lot of people if you asked me!
If you sign up for yotta savings use the code FREE100 and you’ll get 100 free tickets.
I started a Yotta account yesterday!! Will be interesting to see how well it does 😏
Ask Sebby do you really believe a lot of Americans don't have at least $1000 savings?
Question about the tickets?
1.)If you have a $125.00 balance in your savings.
> do you have a 5 tickets every week to play with?