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I've been doing it for a few months now, and haven't noticed any increase in my spam amount. Adverts are there AND as with almost any site nowadays, you may see something relating to what you may have searched for on google or Ebay for instance, but I have never noticed any email spam seemingly related to FPL ads.
I ain't won nothing yet by the way, but I'm entered every day and it cost me nada, zilch.

Mr. HandyAndy - Really

 

I use adblocker plus for IE, but have disabled it for FPL. Well, the FPL owner put up an article about ad blockers to basically say, you know, the ads pay for the prizes. If everyone used ad blockers, the advertisers would go away. He is doing a good job there, so I don't mind some unobtrusive ads(I don't ever click on them anyway).

Mr. HandyAndy - Really