The insurance companies actually love this since there's no element of skill involved so the odds of winning can be computed exactly
How do you make money? It seems too good to be true with all of the bonuses and promotions the site touts.
"Too good to be true" is definitely a problem we run into. We make money the same way any bank does, via lending out the deposits and via a small interchange fee charged to the merchant when customers use our cards. Our net prizes paid out are comparable with other high yield savings accounts / rewards credit cards but the random reward makes it (hopefully) more engaging
Funny that in one of the info cards it says "MILITARY-GRADE SECURITY" and then inside that same card: "Your account is protected by bank-grade encryption and authentication."