Win the lottery with Prize Linked Savings Accounts

Win the lottery with Prize-Linked Savings Accounts

Saving money is hard. But wouldn’t it be great if you won the lottery just for saving? With Prize Linked Savings accounts,  you have the chance to win big. And if not, at the very least, you will be happy with your savings. According to a study by consumer finance company Bankrate, over a quarter of Americans have no emergency savings at all. However, in 2014 Americans spent about $70 billion in lottery tickets.  What’s interesting is that the majority of these lottery sales are driven by financially vulnerable and low-income individuals. That coupled with no savings leads to high-cost credit accounts that cost Americans millions of dollars in interest. So to assist Americans in saving money, Doorways to Dreams developed Prize Linked Savings (PLS) accounts. This means that you as an account holder get rewarded for saving.

There is something about the thrill of winning the lottery that keeps everyone trying.  So why not play the lottery for free with Prize Linked Savings accounts?

Prize Linked Savings (PLS) Accounts have been around for a long time in other countries. In the UK, these savings accounts have been around for at least 50 years. However, in the US, this is still a fairly new phenomenon. Doorways to Dreams (D2D) is a pioneer in the field of PLS. With the huge success of PLS in other countries, they decided to introduce this to the US, and started a pilot project in Michigan with select state credit unions. The pilot program fared well in Michigan, especially with low-income earners. As a result, these programs have now become mainstream products offered by these credit unions and are now also avialable in 10 states. D2D’s goal is to make these available in every state.

At the time of writing this article, there are five prize linked programs that I am aware of.

  1. SaveUP
  2. Save2Win
  3. SaveYourRefund
  4. FundMyFuture
  5. RampItUp


Keep reading for more information on these programs below.


1. SaveUP

SaveUP offers great incentives to save and is available to everyone nationwide. You also do not need to save huge amounts of money to be eligible to enter any of their drawings. With frequent prizes ranging from $50 draws to a monthly $2 million jackpot, there is no shortage of prizes to entice you. Plus you can recommend prizes that you would like to win. If your financial institution is not one of the ones that SaveUP deals with, you can always contact them and ask to them to get something going. They have great customer service and are more than willing to help.

How to start with SaveUP?

Register your savings and debt-bearing accounts (such as credit cards, loans, mortages) with SaveUP and get bonus points just for linking accounts. After that you earn credits for any deposits made into your accounts as well as any debt paid off. These credits can then be redeemed along with the 3 plays/day that you receive for the lottery prizes or other prizes from their catalog. I have played for prizes such as $50,000 in savings and the $2 million jackpot. There are a ton of fun prizes!


Is SaveUP safe?

Yes, it is. SaveUP uses bank-level encryption and the same secure data collection services as Intuit, TurboTax and In addition, they do not store any of your login information (account numbers, login information, or ID numbers). This is only used to initially ensure the account is yours. So if SaveUP was to get hacked, all the hacker would get is random transaction data with no identifiers, which would be useless to them.


Currently there are no fees to use prize-linked savings accounts but that could change in the future. So make the most of this while you can. Click here to get started with SaveUP and to get 10 bonus plays for the $2 Million jackpot.


Other Benefits to using SaveUP:

  • Build your savings!
  • Spending and saving habits analyzed so beneficial financial products and actions can be recommended to you.
  • Be able to see where your money is going
  • Instant snapshot of your financial habits
  • View all your accounts in one place
  • Chance to win the lottery!!


Click here to get started with SaveUP.

2. Save2Win

Save2Win was the pioneering Prize Linked program created in the US. Currently, it’s available in these states: Connecticut, Michigan, Nebraska, New York, North Carolina, Virginia, Washington.

How to get started with Save2Win?

Visit Save2Win to find out which credit unions near you offer the Save2Win program. Then open a 12-month Certificate of Deposit (CD), and get started with just $25. For each $25 you put into the CD you earn a lottery ticket. Every $25 earns you another ticket, up to a maximum of 10 chances per month. However, if you dip into that CD before it’s maturity date, you will be charged a $25 fee. In addition, you are only allowed to withdraw money once per term. Find out more details at your local participating credit union. The goal is to help increase your savings and earn you some interest on your savings.

If you are unfamiliar with CDs, they are another vehicle to help you increase your savings. CDs, generally earn you higher interest rates of return than regular savings accounts, as long as you don’t withdraw your money early.

Click here to get started with Save2Win.

3. SaveYourRefund

Tax refunds are one of the best opportunities to save, with many filers receiving an average refund of approximately $2800. For other savers, this may be the only opportunity to save. SaveYourRefund is another pioneering program created by D2D to help you set aside savings.

Every tax filer who is 18 years and above is eligible to participate in the SaveYourRefund program.

How to get started with SaveYourRefund?

What’s nice about this program is it has been worked right into the IRS tax forms. Simply fill out Form 8888 when you file your taxes to split your refund into spending and savings accounts. You can save as little as $50 into a savings account, CD, IRA, prepaid card, savings bond or Treasure Direct account. Once you do this, you can enter to win weekly prizes and the grand prize by sending SaveYourRefund your savings information.



Click here for more information on SaveYourRefund.

4. FundMyFuture

This is a savings program that enables you to win prizes and cash in monthly drawings by depositing small amounts of money into your child’s savings account. You get to play lotteries and raffles while your child benefits from the savings. At present, it seems that this program is only running in Arkansas and Pennsylvania but this will change as D2D continues their quest to bring these programs to every state.

If you are in one of the states that is serviced by FundMyFuture, click here to get started.

5. RampItUp

RampItUp is not really a prize-linked savings account but it is a great educational tool to understand the financial side of going to college so you can make more informed decisions. With student loans running in the trillions of dollars, making informed decisions about your college financing can go a long way to decreasing your loans. Whether you are in a position of advising students or a student yourself, RampItUp can definitely provide easy access to understand the complex world of college financing. I should probably mention it’s actually a game that is available for Apple as well as Android users, which makes it a fun way to absorb the information.

See the following video for more information.


Just remember many of these programs do not require you to save HUGE amounts of money to be eligible for these prizes. A little chump change here and there can go a long way. At the end of it, you could either be rich or happy with your savings.  It’s a win-win situation.



Have you had any experience with Prize-Linked Savings accounts? 



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