Premium Bonds .. revolt!

[fido]

Surely this will finally get the middle classes to revolt?

http://www.telegraph.co.uk/finance/personalfinance...

The million pound prize is no longer, and there is now a pathetic £25 prize to keep your meagre hopes up.

[fido]

Lefty Guns said:

I take it by your scornful use of the term "middle-class" that you disapprove of those succesful individuals who work hard and save their money? bds aren't they? What have they done to deserve winning prizes on premium bonds

I think we're in agreement - I'm both middle class ('Bank employee' still qualifies?) and have the maximum £30000 from which i hope to reap these pathetic prizes. Just to add, i misread the article (beer goggles) and thought they had removed all the top prizes .. but even so it was my only hope, and imagine so for many other 'middlies', of escaping from my soulless existance.

Edited by fido on Wednesday 18th March 13:45

[fido]

MartG said:

Minty UFB said:

My G/Mother invested around £50 in early 1950's and today including all winnings they are now worth around £50. Thats right not one single win ( even though back in the 50's this was quite a lot of money).

I was given some bonds when I was born - 48 years later I still haven't won anything

Damn statistics.

If we consider each draw to be a Bernoulli process with success p
then the variation of success in relative terms is p / (1-p).

Thus with smaller holdings the variance of the outcome appears to be 'all or nothing'.

Good luck