Nine months ago I wrote my review of PrizePool. It is probably still one of the most in-depth PrizePool review out there. How do I know that? Because nobody uses this platform which figuratively means almost nobody is writing about it. Anyway, after PrizePool became more transparent about the odds of winning, I immediately started moving money into PrizePool and I even wrote about it here.
Well, I would like to say that I was fairly accurate on what I was saying. Because almost nobody uses this platform, the odds of winning continue to stay rather good. I think some of you agreed in what I was saying, that’s why almost a dozen of you used my referral link (thanks for that). And to my surprise, one of you hit the jackpot of $10,000.
If you signup through a referral, you will get 10% bonus on ALL of your winning and so will I.
https://links.getprizepool.com/1abMCSL4Ccb or use code Y17LK
Since the winner had used my referral link, they got a bonus 10% of their winning which means they really won $11,000. Meanwhile as a referrer I was awarded with $1,000 as well. I can’t remember the last time I made $1,000 on a bank account, so I thank the winner (and others as well) for using my referral link.
Oddly enough my prize for that day was a whooping 10 cents. But there is a reason for that, I don’t put a whole lot of money in my “main” account (i.e. where I refer friends, family, and readers from). Instead, the money is kept in various household accounts which I obviously referred from my “main” account. What this means is whatever these household accounts make a winning, they get 10% bonus but so does my “main” account. For example, if my SO wins $20, she gets $2 bonus because she had used my referral, and my “main” account gets $2 bonus because my referral won $2.
I think spreading $ over various PrizePool account likely gives you a better odd at winning mid-tier rewards. After all, it it only takes few thousand dollar to hit 80 percentile and few more to hit 90 percentile. You can see your percentile and odds of winning change as you increase/decrease your balance. A 90 percentile would mean you have more money than 90% of the users in PrizePool. I have personally found that adding few hundred dollar a week or month won’t bump up your percentile as much as it used to once you’re at around 90 percentile. I suspect, there are a few bunch that have $100k sitting in their PrizePool account.
Anyway, my goal for quite a while has been to try to get my household accounts to 90 percentile. As such instead of sending few hundred dollar to my 3% APY HMB account, I mostly send them to PrizePool account. And its serving me well so far as I am beating 3% APY on PrizePool.
Currently, PrizePool has an estimated pool APY of 3.46%. Pretty much all of my household accounts have a 3+% APY with my “main” account having an inflated APY of over 100%. I suppose it helps a little that they pay 0.30% APY as saving bonus.
