Premium Bonds - Not a bean for months now!!!!
Discussion
Ah but it's random don't you know...
It should be very easy to prove any non-randomness by taking note of winnings. Random is actually predictable...
Still, where it beats 'Yer Lottery Innit' is that, should you be unsuccessful in winning millions, you can get your stake back. I keep offering my lottery-entering chums a guaranteed 50% return - you give me £1 and I'll give you 50p straight back - but they persist in holding out for the big win innit. And they lose the lot.
It should be very easy to prove any non-randomness by taking note of winnings. Random is actually predictable...
Still, where it beats 'Yer Lottery Innit' is that, should you be unsuccessful in winning millions, you can get your stake back. I keep offering my lottery-entering chums a guaranteed 50% return - you give me £1 and I'll give you 50p straight back - but they persist in holding out for the big win innit. And they lose the lot.
I am coming to appreciate the Martin Lewis suggestion to put the £30k in an interest bearing account (and gradually into an ISA) and spend the interest on scratchies - whats not to like? Evenings round the kitchen table with Mrs DSL and the DSL sprogs busily scratching away like demented beavers occasionally yelling "Winner" then softly "£2" etc etc
Pork said:
Awesome.
Another £10k then £20k you can throw in with next to nothing return. Awesome.
Exactly!Another £10k then £20k you can throw in with next to nothing return. Awesome.
"From 1 June 2014, savers will be allowed to hold up to £40,000 in Premium Bonds, up from £30,000 previously, and in 2015 the limit will be raised further to £50,000.
The number of £1m Premium Bond prizes will be doubled each month to two, beginning with August's draw.
However, the total amount of prize money will not be extended, so fewer people will win prizes."
http://www.bbc.co.uk/news/business-26645108
I think I shall not be investing in premium bonds going forward
smckeown said:
Exactly!
"From 1 June 2014, savers will be allowed to hold up to £40,000 in Premium Bonds, up from £30,000 previously, and in 2015 the limit will be raised further to £50,000.
The number of £1m Premium Bond prizes will be doubled each month to two, beginning with August's draw.
However, the total amount of prize money will not be extended, so fewer people will win prizes."
http://www.bbc.co.uk/news/business-26645108
I think I shall not be investing in premium bonds going forward
I thought the prize fund was a percentage of the amount "invested" in bonds, not a fixed amount? ETA sorry , I've reread and understood - so they're "consolidating" some of the smaller prizes into the new million pound prize? Well that's rubbish!"From 1 June 2014, savers will be allowed to hold up to £40,000 in Premium Bonds, up from £30,000 previously, and in 2015 the limit will be raised further to £50,000.
The number of £1m Premium Bond prizes will be doubled each month to two, beginning with August's draw.
However, the total amount of prize money will not be extended, so fewer people will win prizes."
http://www.bbc.co.uk/news/business-26645108
I think I shall not be investing in premium bonds going forward
I agree that they should bump up the number of smaller prizes rather than another million pounds. While interest rates are on the floor (and as close to zero as makes no difference with instant access account) I'll stay with them for the foreseeable future. They seem to be the least worst of a bad bunch...
Edited by funinhounslow on Thursday 20th March 21:40
okgo said:
Let me know when you find somewhere worthwhile to stick 30 grand 
Take your pick http://www.autotrader.co.uk/search/used/cars/postc...
Pork said:
Best go with the 456 then
I get the point you're making, and you're absolutely right.
I know in my heart that buying an M3 CSL is a better bet than premium bonds, but I just couldn't trust other people not to ruin my investment as its parked on a road etc. Cars are not a bad way to store money if you chose the right one, but has to be the right situation.I get the point you're making, and you're absolutely right.
I also thought about buying a few watches but very few now go up in value it would seem.
DSLiverpool said:
The extra £1m is pandering to the stupid dreamers, better making 200 * £5k in my opinion so more people get something worth winning (at least a holiday)
Exactly.And as I keep asking people - 'Does anyone know, or even have a friend-of-friend that scooped a million on the Premium Bonds?!'
I've heard rumors of folks winning £5k and £10K but thats it. (oh and think we had reports of 'a bloke at work that won £25K' earlier in the thread).
Steamer said:
DSLiverpool said:
The extra £1m is pandering to the stupid dreamers, better making 200 * £5k in my opinion so more people get something worth winning (at least a holiday)
Exactly.And as I keep asking people - 'Does anyone know, or even have a friend-of-friend that scooped a million on the Premium Bonds?!'
I've heard rumors of folks winning £5k and £10K but thats it. (oh and think we had reports of 'a bloke at work that won £25K' earlier in the thread).
226bhp said:
I don't know, or even have a friend-of-friend that scooped a million on the Lottery either.
Whilst I don't know the guy myself people I know do know someone (Carl Compton) who won about £9million on the lottery. Someone also told my mum they'd won £20k on the lottery raffle but no way to know if they're being honest. I've yet to know or hear of anyone who has won anything significant on Premium Bonds. I'm almost ready to believe the earlier poster who said it's probably rigged That's what I was getting at - you 'hear' and 'see' people that have won on the lottery but as far as I can remember I've never heard anyone say 'bob from down in dispatch won't be turning up anymore... He's only gone and won the big one on The Bonds!'
Although we do actually get snippets of stories about Lotto winners lives going to the dogs after a few years of hitting the big time.
Although we do actually get snippets of stories about Lotto winners lives going to the dogs after a few years of hitting the big time.
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