Yotta Savings Gamifies Savings by Letting Users Enroll in a Weekly Lottery for Every $25 Saved
Americans spend over $80B on the lottery, but 40% of people can’t come up with $400 in case of an emergency. Adam Moelis and Yotta Savings are using behavioral psychology to address the savings crisis. The app is a savings app with a gamification component. For every $25 saved, users are entered into a weekly lottery for prizes that range from 10 cents to $10M. Adam shares more about the Prize-linked savings app, the company's future plans, and the impact COVID has had on savings.
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