The “Every 10 Minutes” promotion to win an Xbox360 before you buy it kicked off yesterday, Aug. 28. To play, consumers will have to look for special codes found underneath the bottle caps of their Mountain Dew and other participating Pepsi products. These codes then must be entered in a personal online account at www.every10minutes.com .

Participants will be able to choose which 10-minute drawing they wish to enter, and can spread codes across different drawings or stockpile codes and put them all toward one drawing of their choice. In addition, codes entered will automatically earn the participants points toward obtaining collectible merchandise and gear.

“We are excited about teaming up with Pepsi-Cola to turn up the volume on the Xbox 360 excitement,” said Mitch Koch, corporate vice president of Worldwide Retail Sales for Xbox. “Our co-marketing relationship is based on our commitment to deliver entertaining, top-of-the-line promotions to our customers.”

Dave Burwick, senior vice president and chief marketing officer at Pepsi-Cola North America added. “The launch of the Xbox 360 system is the most anticipated event that will happen in gaming this year. We are thrilled to partner with Microsoft and reward our loyal Mountain Dew consumers with the hottest new gaming technology before anyone can buy it in stores, in a way that only Dew can do it.”

The promotion ends in 9 weeks so better hurry up on that soda consumption. By the way, it is only valid for North American consumers.