lottery

Crown

cheerleader wrote: »

Or buy some premium bonds, you still may win something but your money will be safe!!

It isnt the MSE thing to do to have premuim bonds. Did you see martins article lol just kidding

you would be a complete nut to buy lottery tickets. If you wanted to gamble what Im not suggesting you should at all you would be better offer sticking it on the horses or dogs in your local bookies. at least the odds would be more in your favour.

No offence is meant by this but if this is the way we all conducted our financial affairs would anyone ever be debt free.....

Snaggles

southwester wrote: »

Good shout Cheerleader

Sorry, off-topic, but I thought that was really funny!

No_more_credit_thanks

"Statistically if you spend £1000 on lotto tickets you will win £190ish
The odds on £1000 winning the jackpot are 14000 to 1"


How do you get these figures?

If you buy 1000 tickets each ticket still has odds of about 14,000,000/1, by buying 1000 tickets the odds don't become 14,000,000/1000 or 14000/1.

on that basis you could buy 10.5 million tickets with an odds on 1/2 chance of winning but still have 3,500,000 losing combinations.

mrsthrifty_2

cheerleader wrote: »

Or buy some premium bonds, you still may win something but your money will be safe!!

I agree. a good time to have a go as well and if you dont win cash them back up in July and invest somewhere else

Premium Bonds
Two £1 million jackpots every month
We hold a prize draw every month. In June, there are five £1 million jackpots plus over a million other tax-free prizes. In all other months there are two £1 million jackpots.

http://www.nsandi.com/products/pb/index.jsp?section=apply-post

Crown

I know this is of topic but have you read martins article on Premium Bonds and why they are not a good investestment. I made interesting reading to me

cheerleader

I read the article myself but I think there has to be a limit to how "sensible" we are sometimes!

I think putting any money away is brilliant and why not just have that little chance of winning the big prize?!!
This is only a personal view but although I know I could probably earn more money by sticking my money in a 5% ISA, I enjoy the little thrill of possibly winning!!

Its better than the lottery as at least you can get your money back!!!


*skulks off to wave pom poms!!!* :j

james32_uk

Every £1 ticket you buy on the lottery is worth 45p up until the draw itself.

Then it normally depreciates even further to 0p!

rog2

I am only six numbers away from owning a Rolls Royce. :rolleyes: :rolleyes:
Keep your money, and keep saving.

nomoneytoday

No_more_credit_thanks wrote: »

How do you get these figures?

If you buy 1000 tickets each ticket still has odds of about 14,000,000/1, by buying 1000 tickets the odds don't become 14,000,000/1000 or 14000/1.

on that basis you could buy 10.5 million tickets with an odds on 1/2 chance of winning but still have 3,500,000 losing combinations.

EACH ticket still has a 14million/1 chance of winning, but if you have 2 tickets the odds become 1/14mm + 1/14mm = 1/7million etc

If you bought 10.5 million different tickets the odds on winning would be 3 in 4, as you said 3.5 million losing combos is 1/4

ehallett

A few years ago my mum won 1,000 lottery tickets with the Daily Mirror.

We were all dreaming of grand things and winning at least a few thousand pounds.

She ended up with £208!!

Keep your money

Emily x