Blog Getting started Earn 1% APR plus a chance to win up to $10 million cash and other prizes with Lending Lottery

Earn 1% APR plus a chance to win up to $10 million cash and other prizes with Lending Lottery

date July 5, 2021 time 6 min read 698 views

Win up to $10 million with MyConstant's Lending Lottery!
Win up to $10 million with MyConstant’s Lending Lottery! (Source: Unsplash)

Hey investors,

Feeling lucky?

I’m delighted to announce the launch of Lending Lottery, a new product that combines investing with the thrill of lottery draws and prizes. 

We know fixed-term investing can be a bit dull. Until your loans mature, there’s little to do but watch the money roll in without being able to do anything with it… 

But what if every week you also had the chance to win up to $10,000,000?

We’ve taken inspiration from UK premium bonds to give you a bank-beating interest rate as well as the chance to win thousands of cash prizes. 

Lending Lottery pays you 1% APR on a 30-day term and assigns you lottery tickets for every $100 you invest. A $1,000 investment gives you 10 tickets, for example. 

We draw new numbers every day, with prizes awarded weekly. The more numbers you match, the bigger your win!

How Lending Lottery works

No time to read? Trevor breaks down the Lending Lottery in under 5 minutes.

Lending Lottery is a 30-day fixed-term investment. You’re funding loans to decentralized exchanges, such as privacy blockchain Incognito, and in return receive a cut of trading fees. As well as this 1% APR return, you also get a lottery ticket for every $100 you invest. Like other lotteries, you can pick your own numbers or generate them randomly. 

Draws are from Monday to Sunday, with a new number drawn every day at 9pm PST. Once the weekly draw ends, if you’ve matched one or more numbers, you win a cash prize paid automatically to your MyConstant balance (we’ll email you if you win). If you invest midway through the weekly draw, your tickets are valid from the following week. 

And if you don’t win a draw? No worries, your tickets will be automatically entered into the next one and every other one after that – right up until the end of your term. Once your term ends, your lottery tickets expire. You can also cancel Lending Lottery investments mid-term, but you’ll lose all tickets, interest, and winnings earned. 

Why invest in Lending Lottery?

You might be thinking your chances of winning that grand prize are low. 

While true, there are plenty of other prizes up for grabs, including cash bonuses of $0.25 up to $20,000. The bigger the prize, the tougher the odds, but you get multiple chances to win. 

On top of potential lottery winnings, you also earn a respectable 1% APR on your money. That’s ten times more than you’d earn in one of the top five US banks. Reinvest when your term ends to compound your interest further. 

The Lending Lottery’s short 30-day term is a soft introduction to fixed-term investing. You might find that after Lending Lottery you move into longer terms for bigger payouts. 

Are my investments in Lending Lottery protected?

Lending Lottery investments aren’t backed by collateral. However, your funds are covered by the MyConstant Guarantee, an $10 million discretionary fund from which we can reimburse you for funds lost or stolen while in the custody of third parties. It’s not an insurance, however, so your funds are still at risk. Always invest with caution and diversify.

FAQs

What is the Lending Lottery?

The Lending Lottery is a 30-day investment that pays 1% APR and grants you lottery tickets (1 for every $100 invested) for your chance to win up to $10,000,000. 

We all love playing the lottery. There’s nothing like that rush of excitement when you win a prize. We wanted to bring some of that excitement to investing while still offering a bank-beating interest rate on your money. 

How does it work?

To invest in the Lending Lottery, you need to have the funds for your investment in your balance. If not, you’ll need to deposit the funds first. Then, simply head to the Lending Lottery page to start your investment. 

You’ll then receive a lottery ticket for every $100 you invest. If you invest $1,000, for example, you’ll get 10 tickets, and for each ticket granted, you can pick your own numbers or assign them at random. 

There are seven numbers on each ticket, with six standard numbers from 1 – 70 and one ConstantBall bonus from 1 – 25. Once assigned, you can’t change them. 

To win a prize, you must match up to seven of your lottery numbers in our weekly draw which lasts from Monday to Sunday. Each day, we announce a new number (drawn at random via random.org) at 9pm PST. If that week’s draw has already started when you get your tickets, you’ll need to wait for the following week’s draw.

After Sunday’s draw, if you’ve matched any numbers, you’ll win a prize that’s automatically paid to your MyConstant account.  

Your tickets can be used in each weekly prize draw until your term ends, even if you’ve already matched numbers and won prizes. However, please note that there is only one winning ticket per draw – if you have more than one winning ticket, your reward will match that of the highest win. 

After your term ends, your tickets will automatically expire – even if you haven’t matched any numbers. 

What are the chances of winning?

The odds of winning each prize are listed below:

Matching numbersPrizesOdds of winning
1 ConstantBall$0.251:11
1 + 1 ConstantBall$0.501:18
2 + 1 ConstantBall$11:86
3$21:164
3 + ConstantBall$51:984
4$301:4,517
4 + ConstantBall$500 1:27,099
5$5,000 + standing desk (worth $499) (If more than one winning ticket – cash prize will be shared. Each winner will get a standing desk)1:355,675
5 + ConstantBall$50,000 + standing desk (worth $499) (If more than one winning ticket – cash prize will be shared. Each winner will get a standing desk)1:2,134,049
6$100,000 + standing desk (worth $499) (If more than one winning ticket – cash prize will be shared. Each winner will get a standing desk)1:34,144,788
6 + ConstantBall$10,000,000 (If more than one winning ticket – cash prize will be shared)1: 819,474,906

Like most lotteries, the chance of winning the grand prize is low. However, the chance of winning one of the smaller prizes is relatively high. And remember – the more tickets you have the greater your chance of winning. 

How many lottery tickets do I get?

You get 1 lottery ticket for every $100 invested. 

Can I pick my own ticket numbers?

Yes, you can. When you confirm your investment, you’ll be able to choose your numbers immediately on-screen or assign them randomly. 

How long do lottery tickets last for?

Your lottery tickets are valid for the duration of the investment. After your term ends, your tickets expire. To get new tickets, invest in another 30-day Lending Lottery investment. 

How are my funds used?

When you invest in the Lending Lottery, your funds are lent to cryptocurrency exchanges which pay you a cut of trading fees in return for supplying liquidity to their markets. However, there is no cryptocurrency backing this investment. Instead, your funds are backed by MyConstant Guarantee, an internal financial limit to which we can comfortably afford to reimburse you for funds lost or stolen while in the custody of our exchange partners. However, this isn’t an insurance and your funds are still at risk. We recommend you invest with caution and diversify. 

What are the risks?

The Lending Lottery is an unsecured investment. You lend your money to cryptocurrency exchanges in return for a cut of trading fees. However, all Lending Lottery investments fall under the MyConstant Guarantee which is a cap on total investments below which we can reimburse you for funds lost or stolen while in the custody of exchange partners. It’s not an insurance, however, so your funds are still at risk. 

Can I end my term early?

Yes, you can end your term early by cancelling your Lending Lottery investment. However, you’ll lose any earned interest and lottery tickets. You will receive your principal back only. 

How are prizes paid?

Prizes are paid into your MyConstant account automatically as soon as you win them. 

When are the prize draws?

A number is announced every day at 9pm PST and the contest ends weekly after all seven numbers have been drawn. Prizes are paid weekly, too.  

How do you pick winning numbers?

We use random.org – a website that generates the closest approximation to true randomness via a model based on atmospheric noise (rather than a simple computer program). Random.org has been certified and approved by eCOGRA, a non-profit regulatory body that acts as the independent standards authority of the online gaming industry. 

I forgot to check my numbers – have I lost my chance?

No, you don’t have to check your numbers every time there’s a draw. If you win, you’ll be notified via email and your prize will be in your account waiting for you. 

Terms and conditions

  1. To invest in the Lending Lottery, you must have verified your ID.
  2. You must invest a minimum of $100 if you want to receive a lottery ticket.
  3. You get one lottery ticket for every $100 you invest. A $1,000 investment would result in 10 tickets, for example.
  4. Lottery draws are weekly, from Monday to Sunday, with a new number announced every day at 9pm PST. 
  5. If your lottery tickets are issued part-way through a weekly draw – on a Wednesday, for example – they’ll be valid from the following week’s draw.
  6. Your lottery tickets remain valid for the duration of your investment. Once your term ends, your lottery tickets will expire.  
  7. All prizes are paid automatically into your MyConstant balance in USD.
  8. Only one winning ticket per customer for each draw. If you match numbers on multiple tickets, the ticket with the most numbers will win the prize. 
  9. If you fail to confirm your lottery ticket numbers before the current draw ends, the system will automatically generate them at random for you.
  10. Lottery tickets cannot be exchanged, refunded, or traded for cash. 
  11. If you cancel your Lending Lottery investment, you’ll lose all interest and prize funds earned and your lottery tickets will be invalid. 
  12. Any misuse, fraud, or cheating of the Lending Lottery will result in immediate disqualification from the lottery, including any fraudulent winnings, and possible suspension of your account. 
  13. MyConstant reserves the right to change, remove, or update any or all of the above conditions subject to reasonable notice, or in the case of fraud or other malicious use of the lottery, to suspend the lottery or amend these terms and conditions without notice.

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George Schooling

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