I won the lottery!

[ColinJ]

How big is big? I ask as I’m thinking of sticking some money into PB’s next year.

It was about £8,000. I had it set up for winnings to be automatically invested in more bonds so it crept up to about £8,300 before I had to start cashing them in.

 

[Gunk]

It was about £8,000. I had it set up for winnings to be automatically invested in more bonds so it crept up to about £8,300 before I had to start cashing them in.

Thanks

 

[Dave7]

I see Colin Weir,the bloke and his wife who won 161 million in 2011 has died after 'a short illness'. https://www.bbc.co.uk/news/uk-50930002
When your time's up, no matter how much money you have you can't avoid it. I suppose you could say that he lived the last 8 years of his life with unbelievable wealth,but he and his wife separated, so even then life wasn't without its problems.

Blimey.....has he died twice. Bit of bad luck he's having there

 

[Dave7]

Is there an optimum amount to 'invest' in PBs? Obviously the more you buy the more you will win (in theory) but will eg the guy with £10,000 theoretically win just 10 x more than the guy with £1,000 worth ?
Hope that question makes sense

 

[vickster]

Is there an optimum amount to 'invest' in PBs? Obviously the more you buy the more you will win (in theory) but will eg the guy with £10,000 theoretically win just 10 x more than the guy with £1,000 worth ?
Hope that question makes sense

In theory yes, because they're set up to pay out a percentage annually

If you want a no risk option with a reasonable payout and a chance of a big win, put as much in as you can ( up ton30k I think?)
Cash isa another option, should be able to get 1.3% or so tax free (more if you're prepared to lock in) and you can invest 20k every tax year

 

[Dave7]

Mrs D, her cousin and aunty used to buy £5.00 of scratch cards between them every week. It was a bit of fun but after a year they had broken even.
They then decided to simply save £5.00 per week. This christmas they took some close family to lunch at my golf club and split what was left.... 50 quid each.....very nice.

 

[vickster]

Mrs D, her cousin and aunty used to buy £5.00 of scratch cards between them every week. It was a bit of fun but after a year they had broken even.
They then decided to simply save £5.00 per week. This christmas they took some close family to lunch at my golf club and split what was left.... 50 quid each.....very nice.

With premium bonds and cash ISAs you'll never get less back than you put in if you cash out, unlike scratchcards, so not sure what your point is?

 

[Dave7]

With premium bonds and cash ISAs you'll never get less back than you put in if you cash out, unlike scratchcards, so not sure what your point is?

No 'point' as such. Just someone elses view on PBs/gambling etc.
I bought £100 PBs about 12 years ago. I got my first 10 quid this year. Math not a strong subject but that is less than 1% anual return.

 

[vickster]

No 'point' as such. Just someone elses view on PBs/gambling etc.
I bought £100 PBs about 12 years ago. I got my first 10 quid this year. Math not a strong subject but that is less than 1% anual return.

I don't see PBS as gambling, they're a secure risk-free place for savings. You won't lose money. I don't think they do £10 prizes (now). I've never had less than £25

 

[oldwheels]

£50K is the current maximum for Premium Bonds I think.

 

[vickster]

£50K is the current maximum for Premium Bonds I think.

Good to know

 

[Dave7]

I don't see PBS as gambling, they're a secure risk-free place for savings. You won't lose money. I don't think they do £10 prizes (now). I've never had less than £25

Bloody hell you are picky today Vickster.
I recall it as £10 but I could be wrong. I know it didnt pay for a holiday.

 

[ColinJ]

It is now £25.

Prize draw details
The table below shows the volume and value of the individual prizes for the November 2019 draw, together with the estimated number of prizes of each value for the December 2019 draw.

Prize band	Prize value	November 2019 draw	Estimated December 2019 draw
Higher value (5% of prize fund)	£1 million	2	2
	£100,000	6	6
	£50,000	11	11
	£25,000	23	24
	£10,000	58	57
	£5,000	115	116
Medium value (5% of prize fund)	£1,000	1,953	1,958
	£500	5,859	5,874
Lower value (90% of prize fund)	£100	26,769	26,858
	£50	26,769	26,858
	£25	3,353,896	3,365,117
Total prizes		3,415,461	3,426,881
Total value		£97,625,250	£97,951,625

[LINK]