£100

ebyard

I know a guy who swore by matched betting but lost a lot of money over a long time.
As ever, only gamble what you can afford to lose, and remember not to chase losses.

This comes from a designer and programmer of gambling machines.

It's a mugs game - so better to be on the other side of the fence

mojomcl

I won 3 x £50 from ymy Premium Bonds, on 1st January this year. That brings my winnings up to £900 in the past 12 months...

nilrem_2

Premium bonds only pay an interest rate if you win and most people don't.
This is a good read -:
http://www.moneysavingexpert.com/savings/premium-bonds

OTOH putting £100 in a bank account will not give any worthwhile interest and putting the same amount in a premium bond you will almost certainly win nothing, but considering the amount you will get from the bank what can you lose with the Premium bond?:eek:

nilrem_2

FWIW I used to be a great believer in Premium bonds but recently the amount of prizes has plummeted so much that I have lost faith in them and have started to cash some of mine in, however with the low interest rates it's worth having a few just in case one is lucky!:D

sabretoothtigger

1.8% wont even cover inflation, what a waste. Dont really believe in luck personally, Id have to be absolutely minted to consider premium bonds because they are tax free but its the last resort of investment not the first

Once upon a time national savings offered the best rates out there but that was like 20 years ago and now apparently the government doesnt need our money like they did then

nilrem_2

sabretoothtigger wrote: »

1.8% wont even cover inflation, what a waste. Dont really believe in luck personally, Id have to be absolutely minted to consider premium bonds because they are tax free but its the last resort of investment not the first

Agreed but with just £100 notes worth it's worth a 'punt' rather than the paltry few quid one would get for that amount from a bank.

sabretoothtigger

Not really, the chances of winning anything are zero basically

64,000 to one of winning, divided by 100 is 640 to 1 or a prize every 53 years of monthly draws. roughly right i think

Just to me, I'd rather take the bank account 4%
Or invest it in some of the money offers you get people talking about on this site, cashback or whatever often you have to spend something to get the bonus, etc

Dooooooooooooooonut

Are you prepared to lose the capital?

housesitter

I took my money out of PB's in December having had it there for just over 18months and been considerably below the average for the period.

It's now sitting at 5%.

With the tax refund I got in September, I stuck it into the big lottery draw.
I didn't fare too well there either.

If that's average luck (as quoted by PB's) then it sucks.