In anticipation of an even better response than last year's inaugural event for students, they have up to $800 to distribute.
In five hours last year, more than 7200 glass and plastic bottles were exchanged for 10c each, netting happy students $727.40c.
One group of flatmates made two trips to the bottle exchange, earning $40.
This year, a 10c refund will also be offered on aluminium drink cans, something organisers Gayaal Iddamalgoda and Timothy Grigg, from the Otago University Students Association, hoped would lead to last year's results being eclipsed.
"It's a great way for students to help the environment and make some much-needed money,'' Mr Iddamalgoda said.
The event, to be held on the University Union building lawn, is designed to encourage people to recycle more of the 1.92 billion beverage containers sold in New Zealand annually, and is being held during the annual campus healthy lifestyles week.
Last year, the money for the refunds was provided by various environmental groups and the OUSA.
This year, the OUSA had contributed $300 and the university $500, the men said.