Premium Bond Winner ?

red_devil

family member has five thousand and two hundred and has won 50 pounds. Fairly new bonds last few years.

M3_Sussex

Phaelok wrote: »

........ I, however, have not won a single penny since investing 2100 in February this year. Whilst I appreciate its not a great deal invested, it would have been nice to see even a 'small' amount won.

Statistically, that would be about right. Check the Premium Bond Calculator and see just how little chance you have!!

trademark

trademark Duke of MSE ... yes quite like it ...

Count trademark also has a ring to it ....... ..

mayb_2

:j Come on folks - at least you wont lose any money on your bonds - its still your money and you can put it somewhere else anytime you want.

The point is there is no guarantee of winning - but like the lottery you have to be in it to win it. Unlike the lottery you don't lose anything. Unless you are like the puritans on here who insist on reminding you what you might have got if you put it somewhere else of course. Northern Rock maybe.:rotfl: - thank goodness that was nationalised - oops sorry helped out by the Government I meant.:T

Dan29

mayb wrote: »

:j Come on folks - at least you wont lose any money on your bonds - its still your money and you can put it somewhere else anytime you want.

The point is there is no guarantee of winning - but like the lottery you have to be in it to win it. Unlike the lottery you don't lose anything. Unless you are like the puritans on here who insist on reminding you what you might have got if you put it somewhere else of course. Northern Rock maybe.:rotfl: - thank goodness that was nationalised - oops sorry helped out by the Government I meant.:T

May if you have £30,000 of Premium Bonds then that money could be earning £1,500 a year in a savings account (if you're a standard rate tax payer).

It's a gamble I'm happy with as I don't need the £1,500 and am obviously hoping to win £1,000,000, but people who say you're not potentially losing money by putting it in Premium Bonds are kidding themselves.

mayb_2

Dan29 I am not saying I am not potentially losing money - I simply don't care. I have £3,500 in premium bonds (I think) and I am just as likely to be a big winner as the people with £30,000 or £300. Please don't tell me the range of possibilities on that. The day I don't want to do that anymore or I need it for something else I will cash it in. In the meantime who knows what might happen. Live a little dangerously!!

I am terribly sensible with my mortgage I don't owe money on credit cards I shop around for utilities and the insurance on my car. I claimed back the money on my mortgage transfers - Martin would be proud of me. So let me take a chance and don't keep reminding me what might be happening if I do something else. What might be happening is that I cash them in and definately never have a chance to get a big win.:D Thanks anyway.

St8_2

red_devil wrote: »

family member has five thousand and two hundred and has won 50 pounds. Fairly new bonds last few years.

Hi I haven't read much of this forum thread so I appologise if people have gave similar examples.

£5,500 over 3 year means with the rate of inflation (2% is it?) the equivilant now would be £5836.66.

So because your family member has only gained £50 over the last few years they have actually lost money as the money is now of less value.

If the original £5500 was saved in a high interest saving account with around 6% interest it would have gain £1050.59 in interest. A lot more appealing than £50.

Don't get me wrong I understand people putting money in premium bonds for the thrill and excitement of the chance of winning the big £1MILLION. I had some money invested in premium bonds myself for that reason last year.

Until I realised this idea is much better:

Simply put your money in a high interest savings account, and if you want the thrill and excitement of winning then spend the interest earnt on lottery tickets or scratch cards. With the £5500 you could have bought 1050 lottery tickets with 59p to spare! Thats more than 6 tickets you can buy every week for 3 years. The odds are that you are more likely to win the jackpot with the lottery than with premium bonds. Plus theres a lot more than £1MILLION to be won with the lottery!

But ofcourse if in 3 years you happen to win nothing with the lottery your money is worth less still because of inflation. But putting your money in high interest savings means you can still afford to keep enough of the interest in your account to compensate for inflation and buy plenty of tickets still. Around 700!

I just think this is a much more exciting way of sacraficing your interest for the chance of winning big. And you can do it without devaluing your money.

mayb_2

I get your points but if I had won a big prize on the Premium Bonds or even several small ones- all this would mean nothing . I have to pay for lottery tickets and that money doesn't come back to me. If I win on Premium Bonds I have both the stakes and the winnings in my pocket.

Jonbvn

mayb wrote: »

I get your points but if I had won a big prize on the Premium Bonds or even several small ones- all this would mean nothing . I have to pay for lottery tickets and that money doesn't come back to me. If I win on Premium Bonds I have both the stakes and the winnings in my pocket.

Ehh?

I think you may have missed the point.

Remember that with PB's you are just gambling with the interest. What the previous poster was suggesting is completely synonymous with PB's. With the proposed system, you get the winnings plus the "original stake" sitting in a savings account.

mayb_2

No - the point is I get the point but still prefer to have this money in Premium Bonds. - My savings account would give me the opportunity to win big time if I bought lottery tickets with the interest, but I would lose the money if I didn't win. I could of course put my money in savings account and put the interest into Premium Bonds. I would then be gambling with the interest and I still get to keep that money. I will think about it. Cheers