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A PS5 for a dollar?
Here's the lowdown
Spending $1 for a shot at a PlayStation 5 1TB console sounds like the kind of deal that belongs in a fever dream, but it's real. A current giveaway promotion is offering players the chance to enter for a PS5 1TB model at just $1 per entry, with cheap Steam keys bundled alongside the deal for anyone looking to pad their PC library without spending full price.
The setup is straightforward. You pay a small entry fee, typically $1, for a chance to win the console outright. These kinds of prize draws have become increasingly common in the gaming space, and the key here is understanding exactly what you're entering before handing over any payment details.
What the Steam key deals actually look like
Alongside the PS5 draw, discounted Steam keys are available across a range of titles. These are legitimate third-party keys that activate directly through Steam, and the discounts can be significant compared to standard storefront pricing. Think titles that normally sit at $30 to $60 being available for anywhere from $2 to $15 depending on the game and how long it has been out.
What most players miss with Steam key bundles is the difference between regional pricing and standard keys. A key sold cheaply might be region-locked, which means it activates fine but could restrict where you can play or trade it. You'll want to check the region details before purchasing, especially if you're buying as a gift.
For anyone building out a PS5 library at the same time, there's useful context in our Hollowbody before you buy guide if survival horror is on your radar. Hollowbody recently landed on PS5 and Xbox Series X|S, and knowing what you're getting into before spending is worth a few minutes.
How the $1 PS5 entry actually works
These prize draw promotions typically operate on a raffle or competition model. You pay a small entry fee, a winner is drawn once a target number of entries is reached or a deadline passes, and the prize ships to the winner. The PS5 1TB is currently retailing at around $449.99 new, so the math is compelling if you get lucky.
The entry price of $1 is the hook, but the total prize pool value and number of entries allowed per person varies by promotion. Pro tip: always read the terms before entering. Some draws cap entries per person, others don't, and knowing the odds matters.
These promotions tend to run for a limited window, so checking back regularly is worth it if you miss the initial window. The Steam key discounts, by contrast, are often available for longer stretches and rotate based on what publishers are willing to discount at a given time.
What this means for your gaming setup right now
If you're already on PS5 and eyeing upcoming releases, getting your settings dialled in matters. Our Battlefield REDSEC best PS5 and Xbox settings guide covers exactly how to optimise performance for one of the bigger shooters in the current rotation.
For anyone who ends up winning the console and wants to know what to load onto it first, or how big those day-one downloads are going to be, our gaming guides hub has preload and file size breakdowns for several major upcoming titles. A fresh PS5 fills up faster than most people expect, so knowing what you're downloading ahead of time saves headaches.
The $1 PS5 giveaway and accompanying Steam deals are live now. If the draw closes before you get there, similar promotions cycle through regularly, and the Steam key discounts tend to refresh on a weekly basis.
