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RE: No Loss Lottery: A hybrid half lottery and half savings account with random large prizes.

in Project HOPE • 4 years ago

Hello @shortsegments, This project is really different and very curious, I never imagined that there could be a lottery with the possibility of savings, I would like to see more closely how this works and if it is available for all countries including Latin America.

See you soon..!

4 years ago in Project HOPE by
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     4 years ago 

    Hello @tocho2

    I think these accounts are offered by banks, but they call them Prize Linked Savings Accounts.

    :)

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       4 years ago (edited)

      Hi @tocho2

      I found this when I was researching it, and forgot to include it...

      Prize Linked Savings Accounts Exist Around the world

      According to Wikipedia:

      Around the world[edit]
      Prize-linked savings accounts have been offered in Argentina, Brazil, Colombia, Germany, Indonesia, Iran, Japan, Mexico, Oman, Pakistan, Spain, South Africa, Sri Lanka, Turkey, United Arab Emirates and Venezuela.[17][18] In South Africa, the First National Bank created a program called the Million a Month Account (MAMA), aimed at increasing savings accounts among unbanked people. It was later closed after the state-run lottery sued them for infringing upon their monopoly.[19]
      In Iran, PLSAs are the most common form of savings account available to the public, as they are viewed to be in compliance with Islamic law which forbids one to earn guaranteed interest on assets.[citation needed] See Islamic banking

      Source

      Thanks to you
      I added it to the Article :)

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         4 years ago 

        Thanks for this info @shortsegments friend..!

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