A few years ago we were made aware of a new site called Free Postcode Lottery. It has to be said our initial thoughts were that it was a bit of a scam. The site wanted users to register with their details and then enter them in a daily draw to win a cash prize - with no strings attached.
Since then the site has grown from strength to strength. The initial cash prize of £10 per day has rapidly increased to £70 a day and with rollovers in effect the prize pot can rapidly increase. The site has recently enjoyed a fair bit of press coverage so we thought we'd take a look.
Registering with Free Postcode Lottery is quick and easy. You send in your email and postcode to join up. A verification is required and that's it - your postcode is now in the daily draw. Each day one postcode is selected as the winner and if it's your code then you have a chance of winning. Note you must claim the prize otherwise it's forfeited and the pot rolls over to the next day.
So how is Free Postcode Lottery able to dish out cash on a daily basis? Well the site makes money from advertising. We spotted Googleads, editorial content links and affiliate relationships (e.g. with Geolotto and survey sites). Obviously that's enough for owner Chris Holbrook to dish out the prizes which is quite impressive. In a recent interview Chris revealed that the site attracts 35,000 visits a day and has attracted thousands of sign-ups, so it's doing pretty well. In fact it's doing so well it's recently won Best Community Site in Futurenet's Website Of The Year Awards.
The big question that most people will ask is do the prizes get paid out. Well the answer is yes and Free Postcode Lottery go to great pains to get their entrants to give feedback. If you're still sceptical then there's a couple of things to note. Firstly it's not a lottery - it's a straightforward prize draw, which means that it doesn't fall under the jurisdiction of the Gambling Commission. It doesn't cost you anything to play and there's no clicks or actions to perform. It should be noted that this lottery is nothing to do with the People's Postcode Lottery!
Still not convinced? Well as well as the daily draw, there's also a Stackpot prize draw which runs twice daily at 9am and 9pm. This draw dishes out £10 to the winning postcodes. As with the main draw you do need to claim. There's also a £10 mini draw which runs between 6pm and midnight - details of which can be seen at the bottom of the page.
From a different point of view we're quite envious that a site that does so little can generate such levels of revenue that it can afford to dish out £20,000 plus a year. In Loquax's hey day - when we served up users with 200+ competitions a day, the best tools and the best service we were never in that position. That's not a complaint by the way just an observation that sometimes simple ideas are quite often the best. Well that and plastering your site with adsense!
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