Yahoo Finance 
Win £50 with Free Postcode Lottery
Fancy winning £50? With the Free Postcode Lottery, you could do just that, without ever having to buy a ticket.
Since 2011, Chris Holbrook has given away over £25,000 in his self-made postcode lottery.
Back then the jackpot was only £10. The idea grew in popularity through sheer word-of-mouth and the total climbed from £10, to £20, to £30, to £40 and as of last week, reached a high of £50.
Now 5% of UK postcodes have been registered on the site, which attracts more than 30,000 daily users.
How it works
The obvious first question is where does the money come from?
It seems unfathomable, but the site funds its jackpots entirely through Google AdSense and links to other free survey and competition sites. The FPL doesn’t generate a profit at the moment, though Holbrook is hopeful that it will as it gains more members.
A draw is made every day at noon from the postcodes that have been registered with the site. This means that there is always a guaranteed winner. The more people who register with a single postcode, the more likely it is to win.
If more than one person wins the prize pot, it gets split among them. If no one claims it, the money gets rolled on to the next day. The highest amount that has been won so far is £400 from a seven-time rollover.
Holbrook has also introduced a mini draw, which takes place between 6pm-10pm. The prize is £10 and there’s no rollover, but if you win you can treat yourself to a couple of pints down the pub.
What’s more, you earn a 1p bonus every time you visit the site which gets added on to your total winnings. So if you check the site once a day between January and June, you’d get an extra £1.81 added to your potential prize pot.
The odds stand at about 50,000 to 1, but with draws made twice a day on a free lottery, what have you got to lose?
[How to get rid of your overdraft for good]
It sounds like a scam
If it sounds too good to be true, it usually is. However, in this case everything appears to be above board, with plenty of testimonials in reputable places, besides the site itself.
What's more, Holbrook assures us that your user details aren't sold on either. Indeed, as all the site asks for is your postcode and email address (you don't actually have to supply your name), there's not a lot to sell on in the first place.
I’ve won
If you win, your prize money will be transferred through PayPal so you never have to divulge your bank details. All you have to do is click the massive “collect” button that appears on the FPL website if you’re a winner. You’ll receive a confirmation from PayPal shortly afterwards telling you that your winnings are in your account.
If you don’t have PayPal, you could ask for a cheque to be sent to you. You could even opt for Amazon e-vouchers of the equivalent value instead.
For those incredibly noble souls, there’s also the option to double up your winnings and donate the lot to one of FPL’s chosen charities. All of the available charities are listed on the site.
[First Kitemark for a financial product]
Will I get loads of junk emails?
The Free Postcode Lottery doesn't pass on your details to any third parties and never sends out any unsolicited emails, so your inbox won't be spammed if you do decide to enter.
When you sign up, you’ll receive a daily email alert reminding you to check the site. You can unsubscribe from the emails or leave the Free Postcode Lottery at any time.
