Online Competitions: Money-Saving Meets Money-Making

Jan 13, 2014   //   by Keith McDonald   //   Home and Living, Money Saving Tips  //  Comments Off on Online Competitions: Money-Saving Meets Money-Making

It’s only recently, when we launched our New Year competition to give away a Harrods hamper, that my eyes were finally opened to the vast world (or, perhaps, the sport) of online competitions.

Women onlineSome of the entrants to our recent sweepstake are self-confessed ‘addicts’ of online competitions. That’s quite powerful rhetoric under any circumstances.

Let’s make no mistake, though: there are some wonderful prizes to be won out there. So it’s no straightforward ‘addiction’ in the normal sense, I don’t think. There’s a steely entrepreneurialism at work here, on the part of the entrants, in the hope of landing all sorts of monetary and material rewards.

And with that, as I’ve seen, it’s communal, good fun, and great for engaging friends and family.

So good on you all, I say! Though money saving arguably receives more time and effort at Which4U than money making, there’s nothing to say that the two cannot co-exist.

Gambling in the traditional sense can cost an awful lot and become far more dangerous. On Friday, the BBC released a report about the harmful effects of gambling. And it really is quite thought-provoking. Let’s review:

Jackpot 247, as seen on ITVThe price of a National Lottery ticket has just recently doubled to £2. Online gambling has swelled, aided by late-night mainstream TV channels broadcasting play-along casinos.

And, according to the Office of National Statistics, the average household spend on gambling was £166 in 2013.

When we consider the rise in fuel bills and train tickets, and that inflation is still rising faster than wages and beyond what our savings accounts are offering, that’s quite a lot of cash.

So, there’s something commendable to be said for those who have taken the urge to flutter and employed it in a free and harmless way with some decent gains to be had for the lucky few. Online competitions are a money-saving and money-making enterprise, and there aren’t too many of those about.

True – there is always a risk with any kind of addiction. It will become problematic if “competition time” begins to impede upon personal or professional lifes. And how do you justify the value of your time, if no rewards are made?

But at the same time, when we put this into context and realise that two-thirds of us like to gamble with an average household spend of £166 per year, what is the harm in dedicating time to competitions where the only cost is a bit of time and effort?

True, it’s not going to be to everybody’s taste, but keeping cash in your pocket is a meritable skill in itself. And if you land a good prize once in a while, so much the better.

Are you a fan of online competitions? Have you won any good prizes? Has entering been worth your time? Let us know in the box below! In the meantime, if you haven’t done so already, why not get in the hat for our hamper? Find out more here.

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