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lottery or premium bonds?
Comments
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There's more fun in that cup of tea you get up to make after the second ball drops :rotfl:0
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I did the lottery for years and for a couple of years I think I was quite successful. I regularly used to win 3 or 4 balls but then the wins just dried up and it seemed like it was just a complete waste of money. I was also in two syndicates at work and these never did well at all.
Just over 3 years ago we decided to call it a day on the lottery and me and 3 mates started putting a fiver a week into a kitty with a view to buying premium bonds. Each time the kitty got to £100 one of us would buy a premium bond. It seems to have gone really quickly but we have literally just reached a milestone today. Each member now has a £1000. A combined holding of £4000
Unfortunately our luck is just as bad as it was on the lottey and we have only won 3x £50 in total.
but at least we have all managed to save £1000 which feels like a nice return compared to the lottery.1 -
I buy 2 lines a week on Monday and Wednesday by subscription and I almost never win anything (the odd tenner here and there). On premium bonds I put £100 a month in and have £1600 in total and I've never won anything there either. Both are operated on a you have to be in it to win it basis. I fully expect the big win will never be me but if I don't buy a ticket or hold any bonds then it definitely wont be me.MFi3 member 105 - MFW date Oct 2023 - 12 years 9 months more0
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I've £2 of premium bonds bought for me when I was born.... 40 yrs on still no win!
I have heard though that you are better to cash in your bonds every few years and then buy in again to get yourself a new set of numbers as the older no's have less digits than the new one or somethiing like that .
As for the lottery we are with the elottery thingy and pay £5 a week but no big wins I think the most we had was £645 divivded by 44 people !
Thinking of packing that in and tryin' bingo online anybody got any tips?You can't have everything....where would you put it?0 -
margaretclare wrote:Premium bonds or lottery? Both are gambling. Premium bonds - advantage might be said to be: you don't lose your original stake, with lottery you do.
Margaret
That's a popular misconception.
With PBs, your stake is the interest that your money could otherwise have made. You do not get this back.
If you want to do the same with the Lotto, invest £1000 in an account paying 5.2% and you can buy one ticket per week with the interest thereby, never losing your original stakre (i.e., the £1,000).
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Astaroth wrote:has anyone actually known someone win anything more than £50 on premium bonds? My mother and her siblings looked at theirs a few years ago and even though they have a total of £5,000 between them none of them have won a single thing over the last 30 years - also suspiciously the list of winnings on teletext was different for those in the north than those in the south of the country
Hi
My Dad has the maximum amount in premium bonds and since having the max has won each month, ranging from one £50 in a month to several winners per month, each year he makes several thousand on premium bonds, he swears by them, it has become a bit of a sport for him though!! He charts which bonds win the most!
JoStarting with a clean slate.
August grocery challenge - £2500 -
i would take premium bonds every time. the chances of winning are less than the lottery, i believe there are over 30billion bonds issued now, but you get you stake back every time,which contrary to magretclares post, is not gambling. if you feel you need an income from your money then saving are the place to put it, but as most bond holders are only small amounts, woulf the interest from you bank change your life?Mortgage £242500 on completion
FD CC 11/2014 £5900 (£3900 after BT)
FD loan Approx £5700
Deeply depressing total - £2541000 -
Norbert_Colon wrote:But the lottery is more fun to play
It's more fun to lose more of your hard earned money.......can I go away and think about that one ?0 -
Oddly enough (and happily) I came home to a letter saying I've won £50 on the premium bonds yesterday. Hooray I've never won anything before.MFi3 member 105 - MFW date Oct 2023 - 12 years 9 months more0
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It's more fun to lose more of your hard earned money.......can I go away and think about that one ?
It's not the losing that's fun, it's the anticipation and the thinking about what you'd do with the money.
Plus you can pick your own numbers!
Having said that I personally don't think it's worth paying £1 for every week, so I only play when there's a rollover.0
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