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Written by Ryan Scribner on October 26, 2022
FTC Disclosure

Yotta Bank Review 2022: Best High Yield Savings Account?

Most online savings accounts offer a rather "one dimensional" experience. That is, a simple place to park your cash with a digital banking app.

Yotta is on a mission to change things up a bit with their prize-linked savings account. Instead of funneling money into the lottery, savers are rewarded with tickets each week based on how much they save.

Challenger banks like Yotta have emerged recently after the banking app Chime took the market by surprise. These new-age banks are garnering tens to hundreds of thousands of accounts in stealth.

So, should you jump on the Yotta bandwagon? Here's our full review.

Ryan Scribner is an angel investor in Yotta. 

  • Minimum Balance
  • APY
  • Savings Incentive
  • Security
  • Customer Service


With Yotta, you can save money while satisfying your "gambling itch." There is a base rate of 0.20% APY on savings, in addition to weekly prize drawings. Prizes range from pennies up to $10 Million. One of our reader's won a Tesla!

Since offering the online savings account, Yotta has branched out to offer a debit card and credit card as well. Both of these enable you to earn more tickets into the weekly drawing.

Most recently, Yotta launched I Bonds Buckets, which allow you to buy I Bonds without navigating the outdated Treasury Direct website.

Use referral code RYAN for 100 Bonus Tickets when you sign up!


  • Earn 100 Bonus Tickets when you use referral code RYAN
  • 100% FDIC Insured through partner bank Evolve Bank & Trust
  • Easy access to I Bonds
  • Save money while satisfying your gambling itch
  • Chance to win millions or even a Tesla


  • 0.20% APY base rate is lower than competing savings accounts
  • Winning is not guaranteed

What Is Yotta?

Yotta Bank Review

So far, over 500,000 people have decided to make the switch and bank with Yotta.

Yotta is essentially a fancy application built on top of a traditional boring savings account.

There are two crucial things to understand about Yotta:

  • First of all, there's no possible way to lose money (unlike the lotto or gambling)
  • Second of all, Yotta does not hold onto your money, they parter with a custodial bank called Evolve Bank & Trust

Yotta itself is simply a fancy application built on top of an old school bank account. Through their partner bank, you are fully FDIC insured. 

Yotta Features

  1. Prize Linked Savings Account - Every $25 of your first $10,000 saved gets you 1 Weekly Recurring Ticket
  2. Buckets - Savings pods for specific goals or vacations as well as a specific I Bonds Bucket
  3. Debit Card - Spend $10 to earn 1 Ticket for that week
  4. Credit Card - Spend $5 to earn 1 Ticket for that week
  5. Lucky Swipes - Offered with both the Debit and Credit card, every purchase has the chance of being completely free
  6. Pool Play - Pool tickets with friends (just like a lotto pool at work) to increase your odds of winning
  7. Yotta Pay - Like the "Zelle" or "Venmo" of Yotta, send payments to others within the app
  8. Paycheck Perks - Your 1st direct deposit receives a 20% bonus, then it's a recurring 5% bonus

How Does Yotta Work?

how does yotta work

Since there are so many features, it can be a bit overwhelming when you first sign up.

Here's how the app works when you get started.

1. Sign Up & Earn 100 Bonus Tickets

To open an account with Yotta, you will need the following information:

  • Full Name
  • Email
  • Address
  • DOB
  • SSN

The sign up process is simple and takes minutes.

Be sure to use our referral link or use referral code RYAN for 100 Bonus Tickets!

2. Link Your Bank & Make 1st Deposit

Once you open your account, you will get your 100 bonus tickets (assuming you used the code above).

At that point, you will want to make your first deposit. Based on the amount you deposit, you will earn recurring tickets into the weekly drawing. There is a tiered system based on how much you have deposited.

  • Every $25 deposited earns you 1 weekly ticket, up to $10,000 deposited
  • After that, every $150 deposited earns you 1 weekly ticket

So, the ticket incentive is a lot better on the first $10,000 saved up. In that case, you would have 400 weekly tickets into the drawing.

If you deposited $100 and never touched it, you would have 4 weekly tickets. 

3. (Optional) Open A Checking Account

If you want to continue earning more tickets, the Debit card is your next step.

With the Yotta Debit Card, 10% of your dollar value purchases turns into weekly tickets. If you spent $250 on a Utility Bill, you would earn 25 tickets for that weekly drawing.

Lucky Swipes also come into play here. Your odds for a free swipe are based on a number of factors, including whether or not you have direct deposit set up and how many referrals you have generated.

Odds of a free purchase depend on if you have direct deposit setup as well as how many referrals you have. With direct deposit setup, your odds are 1 in 150 for the debit card on average and a 1 in 75 for the credit card on average. Every friend you refer unlocks you 30 days of 1 in 100 odds on average for free stuff on your debit card and 1 in 50 odds on average for your credit card. - Yotta Official Website

4. (Optional) Direct Deposit

If you want to earn even more free tickets, or boost your Lucky Swipe odds, sign up for direct deposit. This is when you have an employer automatically depositing your wages into your Yotta bank account.

When you add direct deposit to your Yotta Checking Account, you unlock the following perks:

  • 25% better Lucky Swipe Odds (1 in 150)
  • Get paid up to 2 days early
  • 20% bonus tickets on your 1st direct deposit
  • 5% bonus tickets on all future direct deposits

How Much Can You Win?

How much money can you win with Yotta

So far, as of October 2022, a total of $11 Million has been paid out in winnings from Yotta. This is a mix of prize winnings through the ticket sweepstakes as well as free purchases through Lucky Swipes.

How much you win with Yotta is based on how many matches you end up with on a ticket. Each night, at 9pm EST, a random number is drawn in the app. Your goal is to match as many as possible by the time the 7th ball is drawn on Sunday night. This ball, called the Yotta Ball, can have a huge impact on your winnings.

You can have your tickets automatically selected for you, or you can choose your numbers yourself. If you have a set of favorites, you can auto-play those ticket numbers weekly.

Generally speaking, more tickets should increase your odds of winning. So, if you want to maximize your odds of winning, try to make Yotta your "one stop shop" for banking.

Prizes & Odds (No Yotta Ball Match)

If you do not match Sunday's Yotta Ball, here's what the odds and prizes are.

Matching NumbersPrizeOdds
0 of 6$01 in 1.8
1 of 6$01 in 3
2 of 6$0.011 in 14
3 of 6$0.201 in 160
4 of 6$71 in 4,406
5 of 6$5,0001 in 346,955
6 of 6$50,0001 in 133,230,759

Prizes & Odds (With Yotta Ball Match)

If you do match Sunday's Yotta Ball, here's what the odds and prizes are.

Matching NumbersPrizeOdds
0 of 6$0.101 in 110
1 of 6$0.201 in 181
2 of 6$0.751 in 867
3 of 6$101 in 9,913
4 of 6$4,0001 in 273,158
5 of 6$15,0001 in 21,511,216
6 of 6$10,000,0001 in 8,260,307,055

Keep in mind, some of these are "Per Ticket" prizes while the larger prizes would be split in the event that there are multiple winners.

If you win the grand prize of $10M, here's how that would be paid out:

The grand prize will be paid either as a one-time, lump sum payment of $4,000,000 or as 40 graduated payments over 40 years that amount to $10,000,000 in total. The annual payments increase by 10% until the 40th and final payment. - Yotta Official Website

Final Thoughts

In the United States, American's spend $1,000 per year on average on the lottery.

Imagine, instead, if you put that money into a prize linked savings account like Yotta? That $1,000 would earn you 40 tickets every single week. Over the course of a year, or 52 weeks, that would be a total of over 2,000 tickets earned. Not to mention, the original $1,000 would still be there t00, on top of any prizes earned.

If a bank account is able to help you save through incentive, while cutting down on bad habits like gambling, that is a win-win.

Be sure to use our referral link or use referral code RYAN for 100 Bonus Tickets!

Article written by Ryan Scribner
Ryan Scribner wrote a book called “From Side Hustle To Main Hustle To Millionaire” about his side hustle journey. He started off as a utility worker in Upstate NY before launching his YouTube channel in 2016 as a side hustle. In 2017, he went full time with the online business, quitting his job. Since then, he has grown his channel to 800,000 subscribers. Ryan now shares side hustle tips with others and is an angel investor in many fintech companies.

Read more

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