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Four Silver Stars
Posted

Question:
Hi,

Recently, Premium Bonds added a second £1m prize each month. It must be great to win it but I'd rather that they added 100 £10,000 prizes, or 200 £5,000 prizes. More chances of getting a prize that I'd still be pretty chuffed with.

Same with the lottery. When jackpots get to 10s of millions I feel as though it's just too much money for one person - and the prize for 5 numbers is teeny in comparison.

What do you think? Smile Big Grin

Choices:
1 or 2 big prizes - if you're going to win you may as well win big!
Lots of little prizes - more chance of a nice little surprise

 


"If you can keep your head when all around you have lost theirs, then you probably haven't understood the seriousness of the situation."
 
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Toasti,

I agree on both the lottery and premium bonds.

More than 10 million is too much for one person in my opinion.
 
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quote:
Originally posted by reverand:
Toasti,

I agree on both the lottery and premium bonds.

More than 10 million is too much for one person in my opinion.


£10 million!! Cor blimey, I'd be happy with a lot less than that! Big Grin


"If you can keep your head when all around you have lost theirs, then you probably haven't understood the seriousness of the situation."
 
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Have you got premium bonds, toasti?

Have you ever won anything on them?
 
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I've got the max - I've got a huge tax bill in just over a year so it's a safe was of keeping the money and more exciting than a bank account.

Just bought them in June/July. First draw they were entered into was August and I got 2 x £50 prizes. I was surprised and quite chuffed. Nothing last month, but I look forward to the post for a couple of days at the beginning of the month. I've never looked forward to getting post before - can't put a money value on that!!


"If you can keep your head when all around you have lost theirs, then you probably haven't understood the seriousness of the situation."
 
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If the prize was £100,000 you would have 20 happy winners!
 
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I am sure that a lot of small prizes are much better.

I'd be very happy with 100,000 can get a enough to live on with that for the rest of my life.
 
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I've not played the lottery but my view is that the large jackpot is its USP. That's the "dream", that you don't have to work and have unlimited wealth etc.

£100,000 would *improve* our life but it wouldn't *change* most people's. After all, someone on a £25k salary takes home £750,000 over their working life.

I'm sure it'd sell less tickets with smaller prizes. People would go back to the pools etc.
 
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I see where you're coming from vbland, but you lose your money on a lottery if you don't win. The only thing you lose on PBs is the interest (after tax) you could have got in a bank account. So to me it's gambling with the rate of return on your money. Therefore a £10,000 prize in a year is a 33% return if you've got the max bonds.

But I suppose people must be enticed by the thought of winning big - I believe sales are going through the roof at the moment, it's either the additional £1m prize or Alan Sugar that's persuading people!!


"If you can keep your head when all around you have lost theirs, then you probably haven't understood the seriousness of the situation."
 
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I've had the max for about 9 months and keep a record on how much winnings. So far I have passed 3.75% I would have earned in interest and STILL HAVEN'T WON A MILLION! Everything in life is a trade off so have started investing abroad in property where very few others do. Have a flexible 15 year plan I say. And for those who say Lucky B***er with the max, it has taken me 50 years to get there.
 
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to win say a couple of million on the lottery is big and life changing.there are 13986816 different combinations on the lottery so even if you do win 10 million you are still in fact being paid well under the odds!for anyone that is fortunate to be in a big winning position may i remind them that there is an aweful lot of good they can do to society with the money and the time on their hands.winning big does not have to mean spend, spend, spend and me ,me, me all of the time.
 
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I think smaller jackpots are better but then i think winning prizes £20 or less is a waste of time so dont go too small Smile
 
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quote:
Originally posted by jumbo jimbo:
to win say a couple of million on the lottery is big and life changing.there are 13986816 different combinations on the lottery so even if you do win 10 million you are still in fact being paid well under the odds!for anyone that is fortunate to be in a big winning position may i remind them that there is an aweful lot of good they can do to society with the money and the time on their hands.winning big does not have to mean spend, spend, spend and me ,me, me all of the time.


I've already decided if I ever win a life changing sum of money I will give up work and go work for an Animal Rescue Centre - something worthwhile!
 
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Yes, if I ever won a large amount of money I would definitely be donating lump sums to charity, and after having whatever time of not working that I feel like having I would work on a voluntary basis.


*It is not necessary to understand things in order to argue about them. -- Pierre De Beaumarchais

 
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reverand
Could be wrong but I believe the odds are 13,983,815 to 1.
I'm sure you will feel much better knowing your chances are greater than you thought.
Best of luck.


All in all we're just another brick in the wall.
 
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quote:
Originally posted by EORSWINE:
reverand
Could be wrong but I believe the odds are 13,983,815 to 1.
I'm sure you will feel much better knowing your chances are greater than you thought.
Best of luck.

yes whar you say eorswine is true but may be misleading to novice investers/gamblers.
where the 1 is the correct answer the 13,983,815 combinations are non jackpot winning ones and hence a total of 13,983,816 combinations in all, of which only will be correct for the jackpot hence 13,983,815/1
 
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Yes jj, but your original post said 13986816 - hence the confusion.
But what's a few thousand when you've got no chance anyway?
Jennie for me, but I wouldn't bet on it.


All in all we're just another brick in the wall.
 
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I was very disappointed last year. I got 5 numbers on the lottery and only won £1150.00. Another friend got 5 numbers a few months later and only got £400.00.

You would think that there would be a higher payiout for such a difficult to get match!
 
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quote:
Originally posted by EORSWINE:
Yes jj, but your original post said 13986816 - hence the confusion.
But what's a few thousand when you've got no chance anyway?
Jennie for me, but I wouldn't bet on it.

Ya it does seem hopeless but most weeks some one wins and so for that reason may be it is worth to have a punt ...........*IT COULD BE YOU, BUT PROBABLY NOT!*........If you get it it will change your life at least if you wish it too!
 
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quote:
Originally posted by tincat:
I was very disappointed last year. I got 5 numbers on the lottery and only won £1150.00. Another friend got 5 numbers a few months later and only got £400.00.

You would think that there would be a higher payiout for such a difficult to get match!


Is there an extra digit in there? £1150.00 would be on par with winning on 5 numbers and the bonus. 5 numbers alone is lucky to reach £2,500... ?


-----------------------------
Devil
 
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quote:
I got 5 numbers on the lottery and only won £1150.00


I wouldn't be disappointed, I'd be on the verge of ending it all! That one time you're ever likely to match that many and not getting that last ONE teeny number meaning the difference between £1K and millions - I'd still be in therapy now!! Crying

I feel quite relieved to only have had 4 once so far since it started. My six in a row are still to come thankfully Big Grin
 
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quote:
Originally posted by jumbo jimbo:
quote:
Originally posted by EORSWINE:
Yes jj, but your original post said 13986816 - hence the confusion.
But what's a few thousand when you've got no chance anyway?
Jennie for me, but I wouldn't bet on it.

Ya it does seem hopeless but most weeks some one wins and so for that reason may be it is worth to have a punt ...........*IT COULD BE YOU, BUT PROBABLY NOT!*........If you get it it will change your life at least if you wish it too!


True JJ. I don't do the lotto because the odds are too high.
However, I do the Thunderball because the odds are reducible to a sensible degree using certain methods.
As a result I actually won it in 2005 and expect to do so again within 3 years or so.


All in all we're just another brick in the wall.
 
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Gel
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Point is also that lots of people enter the lottery and then not bother to check if they've won or not! For example a punter has still not claimed $6,989,367.40 from the euromillions for the draw on 28th September 2007. Ticket bought in Devon.
As this was half term week, chances are someone was on holiday. Why buy a ticket if you dont check? I'd rather buy and check a ticket and win £1k, than buy not check and realise at the end of march i could have won £6million!!!!!!


*** Reality is merely an illusion, albeit a very persistant one - Albert Einstein ***
 
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quote:
Originally posted by EORSWINE:
quote:
Originally posted by jumbo jimbo:
quote:
Originally posted by EORSWINE:
Yes jj, but your original post said 13986816 - hence the confusion.
But what's a few thousand when you've got no chance anyway?
Jennie for me, but I wouldn't bet on it.

Ya it does seem hopeless but most weeks some one wins and so for that reason may be it is worth to have a punt ...........*IT COULD BE YOU, BUT PROBABLY NOT!*........If you get it it will change your life at least if you wish it too!


True JJ. I don't do the lotto because the odds are too high.
However, I do the Thunderball because the odds are reducible to a sensible degree using certain methods.
As a result I actually won it in 2005 and expect to do so again within 3 years or so.


Although the odds are huge against you and the winning sum does not equate to the true odds, shoule you win the jackpot you would be unlucky for it not to be life changing.
 
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