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  • FIRST POST
    • MSE Guy
    • By MSE Guy 25th May 10, 5:47 PM
    • 1,628Posts
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    MSE Guy
    MSE News: Beat Nationwide's Football Bond at the bookies
    • #1
    • 25th May 10, 5:47 PM
    MSE News: Beat Nationwide's Football Bond at the bookies 25th May 10 at 5:47 PM
    This is the discussion thread for the following MSE News Story:

    "The four-year fixed savings deal includes a bonus if England win the World Cup but another gamble could pay even more ..."

Page 1
    • johnmoney05
    • By johnmoney05 25th May 10, 6:09 PM
    • 1,425 Posts
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    johnmoney05
    • #2
    • 25th May 10, 6:09 PM
    • #2
    • 25th May 10, 6:09 PM
    If my brother asked me about this, I would tell him "are you idiot, don't do it! You are gambling your money". Of course, here is open forum, so I would say, "what a genius, smart! Good advice! Thanks for your hard work!!"
    • Gorgeous George
    • By Gorgeous George 25th May 10, 9:17 PM
    • 7,797 Posts
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    Gorgeous George
    • #3
    • 25th May 10, 9:17 PM
    • #3
    • 25th May 10, 9:17 PM
    Don't forget that the wiinings from the bookies can be invested to earn interest. You might even end up with a free bet.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
    • ffacoffipawb
    • By ffacoffipawb 25th May 10, 9:38 PM
    • 2,706 Posts
    • 1,869 Thanks
    ffacoffipawb
    • #4
    • 25th May 10, 9:38 PM
    • #4
    • 25th May 10, 9:38 PM
    This is the discussion thread for the following MSE News Story:

    "The four-year fixed savings deal includes a bonus if England win the World Cup but another gamble could pay even more ..."

    Read the full story:



    Originally posted by MSE Guy
    A pointless account, for the saver, as England won't win.
    • JimmyTheWig
    • By JimmyTheWig 26th May 10, 8:51 AM
    • 11,863 Posts
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    JimmyTheWig
    • #5
    • 26th May 10, 8:51 AM
    • #5
    • 26th May 10, 8:51 AM
    If you want to take a different gamble, you could always take the ICICI account and, based on the 5,000 example, use the 60 additional interest a basic rate taxpayer would get compared to Nationwide if England don't win, and place a bet on England winning.
    But you wouldn't have the 60 at that point.

    I think you'd need to put 4948 into ICICI, which would earn you 752 interest giving a final balance of 5700 (the same as if you put 5000 into Nationwide and England lose). Then put the remaining of your 5000, which is 52, on England to win at the bookies. Which would return 364 if they win. Still much better than Nationwide, but not quite as good as the article suggests. [Though I take GG's point that you could then put that 364 in the bank to earn interest. But I bet (npi) that most people would just spend it!!]
    • MSE Martin
    • By MSE Martin 26th May 10, 9:22 AM
    • 8,115 Posts
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    MSE Martin
    • #6
    • 26th May 10, 9:22 AM
    • #6
    • 26th May 10, 9:22 AM
    But you wouldn't have the 60 at that point.

    I think you'd need to put 4948 into ICICI, which would earn you 752 interest giving a final balance of 5700 (the same as if you put 5000 into Nationwide and England lose). Then put the remaining of your 5000, which is 52, on England to win at the bookies. Which would return 364 if they win. Still much better than Nationwide, but not quite as good as the article suggests. [Though I take GG's point that you could then put that 364 in the bank to earn interest. But I bet (npi) that most people would just spend it!!]
    Originally posted by JimmyTheWig
    I actually did that in my first version of the quote - then decided it made it very difficult for most people to understand the point - so I simplified. You are 100% right though of course
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

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    • JimmyTheWig
    • By JimmyTheWig 26th May 10, 9:49 AM
    • 11,863 Posts
    • 11,403 Thanks
    JimmyTheWig
    • #7
    • 26th May 10, 9:49 AM
    • #7
    • 26th May 10, 9:49 AM
    I actually did that in my first version of the quote - then decided it made it very difficult for most people to understand the point - so I simplified. You are 100% right though of course
    Originally posted by MSE Martin
    Yes, I wondered if that was the case. Similar to calling triple points at Boots a 12% reduction.
  • sdooley
    • #8
    • 27th May 10, 11:04 AM
    • #8
    • 27th May 10, 11:04 AM


    Or, if you have any debts (other than a low rate mortgage) you could use the savings to pay off the debt and, if you feel inclined to have a flutter, keep it to what you can afford....
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