Martin Lewis shared a free postcode lottery in a recent newsletter but what is it and is it really free?
Pick My Postcode, which used to be called Free Postcode Lottery, allows people to win money for free, as long as their postcode is drawn.
On its website, the lottery organisers said: “We believe everyone should have the chance to win something for free. At Pick My Postcode all you need is a postcode and a minute each day to check if you’ve won.”
With 42,033 prizes given out in the UK so far, you might be wondering how you could be one of them.
From why the lottery is free to take part in to how to claim your prize, here’s what we know about Pick My Postcode.
What is Pick My Postcode and how can you win money for free?
Martin Lewis’ MoneySavingExpert (MSE) website explains: “Pick My Postcode is a fun competition that's been running daily since 2011.
“It has several completely free draws each day – some you can win £5 to £100, while the main daily jackpot draw is currently £200, which will roll over if it isn't claimed. It sounds too good to be true, but it's legit.
“So far, over £3 million has been won, with almost a third of that going to MoneySavingExpert users.”
To use Pick My Postcode, you’ll need to be over 18 and register your postcode and make an account for free.
At midday each day, the lottery will draw a postcode randomly with a £200 jackpot up for grabs.
Who is Martin Lewis?
To claim it, you’ll need to make sure you check the website for the winning postcode before midday the next day and claim it if it’s your postcode that is drawn.
If a £200 prize is unclaimed, the prize fund will increase by £200 every day until claimed. If there are multiple winners with the same postcode, the money will be split between each winner.
MSE explained: “The biggest prize claimed since the site started is £8,660.21. Before that it was £3,794.79, which was won by an MSE Weekly email reader. We also heard from another MoneySaver who won £2,500 – see their quote further down.”
While it might sound like there's a catch, MSE explains: “Pick My Postcode is funded by ads, which appear all over the site, along with links to other freebies and surveys.
“You don't have to click them, they make it money just by being there.”
How to earn extra bonus money
When checking the site, you can get an extra 3p each day, which will be added to your winnings, but you will only claim this if your postcode wins.
You can also play smaller games, including the £50 Survey Draw (you’ll need to answer a question to be entered) and the Stackpot – you could win £10 if your postcode appears in a list which is updated twice every day.
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What to do if your postcode wins
If you check the site and your postcode comes up in the main draw on that day, you’ll need to press the collect button.
Pressing the button will mean your winnings will be paid into a PayPal account or you can have your winnings loaded onto a gift card.
Winners can also choose to double and donate their winnings to a charity.
Good luck!
