Yotta launched as a lottery savings account. Today it was announced that the Yotta debit card would begin offering the following rewards:
- Earn one ticket for every $10 you spend
- 1 in 1,000 chance to get the item you purchased for free
- Premium metal card after 10+ referrals
Some interesting analysis (from reader Brandon L):
- Expected value of 1 ticket is $.007, per $10 of spending is .07% expected return
- Expected value of the reimbursed item is .1%
- Total expected return on spending for Yotta debit is ~.17%
That’s not exactly competitive, especially compared to a rewards credit card. But if it’s truly uncapped and Yotta doesn’t put in place any limitations for what types of purchases qualifies I can see this being easily abused and amended fairly quickly.
Update: We know this post doesn’t show on mobile properly, no idea why.
