Note: Free Postcode Lottery has now officially re-branded as Pick My Postcode.
Let’s talk about Pick my Postcode.
Who doesn’t want to win money (big or small) for little or no investment?
Enter the lottery.
In comparison to the national lottery… Pick my Postcode is (as the name suggests) free.
• Is it completely free?
• Is it a scam?
• What are the chances of winning?
I delve into the growingly popular website and have a go myself.
This is my review.
What is Pick My Postcode?
Pick my Postcode is a website founded in 2010 by a fellow named Chris Holbrook, and gives visitors the chance of winning £800+ per day.
Throwing a poorly designed website together overnight, Chris made the initial site as a bit of fun.
Starting with a jackpot of £10 a day, this figure has quickly increased.
The site now valued at £10m after a lottery investment firm bought 10% shares for £1m is growing yearly and has no plans on slowing down.
As with any luck based gambling, the more times you enter… the bigger the chance of winning.
If more than one person registers with your postcode, the more chance you have of winning.
If this happens… the money is split evenly.
Why is it completely free?
Pick my Postcode is able to do this through advertisements.
Basically, they give away a % of their earning with advertisement away as prizes.
This is the reason it’s able to stay free.
The majority of their income comes from Google AdSense, however they also use external survey and competition sites.
They say they’re “a bit like ads in a free newspaper”.
One of the hardest elements Holbrook states in building the Free Postcode Lottery was convincing people they’re not a scam.
They monitor and screen advertisers as they’ve previously had ads which could hurt their credibility, such as gambling.
They’re also very active on social media to squash any scam to ‘too good to be true’ comments.
It makes sense… people will always be wary of someone giving away free money.
How does Pick My Postcode work?
The idea is pretty simple.
You visit pickmypostcode.com and enter in your postcode then check back to see if you’ve won.
If you don’t check each day to see if you’ve won, the money will roll over to the next day, and you’ll lose your winnings.
According to the site, the maximum anyone has ever missed out on is £2,100 and the most ever one is £2,501.
Not too shabby.
There are currently five different draws, each having a different way of entering.
The main draw is where most of the money is won, as I write this the lucky postcode wins £500.
It tells you how many winders there are, i.e. how many people in your postcode have signed up, and how many people have claimed.
The less claims, the more your share will be.
The video draw is won by watching a video, it’s as simple as that.
Pick my Postcode get paid with each view of the video (kind of like a YouTube ad) and give away some of the earning.
As of now, the prize pool for the video draw is £100.
The survey draw is self-explanatory.
Simply fill out a survey… again Pick my Postcode get paid for this, and you can win some of the earnings.
Currently the prize for this is £50.
The stackpot draw is slightly different from the draws above.
Each day from 9am to 9pm random postcode are generated, and if yours is there… you win!
The prize for the stackpot is £10.
For the bonus draw, you need to build up money to enter.
You build up money by watching videos, completing surveys, signing up to a website etc.
Different bonus draws require different amount of money to enter, some £5, some £10 and some £20.
You can’t deposit any money so it is free, but you need to build up your account balance to enter these ones.
Okay, you’ve got me. How do I join?
“I’ve no chance of winning!”
Let’s do some quick math.
There are roughly 1.75m postcodes in the UK.
According to the official site 45% of postcode are currently registered.
1.75m x 45% = 787,500 postcodes.
The number could be higher than this depending on your postcode if more than one person is registered.
787,500 / 365 = one in 2157.5 chance of winning per year.
In English, it could take over 2,000 years to win anything substantial!
Who really cares about the odds?
It’s free and a bit of fun, who says you can’t be a lucky winner?
The referral system
The 1p bonus
Each time you visit the website, 1p is added onto your potential winnings.
This work out as a win/win, however it is a small win for you.
By enticing you back with 1p, Pick my Postcode gets another visitor to their site earning more through advertisements.
It’s a small win for you as it’s only 1p, and you can only claim the money you’ve built up with this method if you actually win with your postcode.
If you don’t… nothing will be paid out.
The 20p Bonus
As the people you refer start using their referral link, and get more people to join…
… you can add up to 20p per referral onto your bonus.
Any money built up using this method, is only ever paid out if you win!
AND the maximum you can build up is £200.
How can I claim?!
If you’re one of the lucky winners, a big ‘Collect’ button will be shown.
Simply click it and the Pick my Postcode team will be notified of your email address, amount won and any bonus you’re entitled to.
The money will be paid via PayPal.
Just in case:
It would be easier to sign up to the FPL with the same email address you use for PayPal.
So… is it a scam or legit?
All in all, it seems to be above board and genuine.
If it required you to investment money via buying a ticket…
… it would be another story.
But being completely free… you have nothing to lose apart from time.
I’m not saying it’s a sure fire way to earn cash as the chances of winning are small, but if you’re looking for something to kill some time, it’s not going to do any harm.
Name: Pick my Postcode
I take a closer look at the popular pick my postcode website pickmypostcode.com. Here are my findings.