subject: Should I Play the Lotto Or Buy Premium Bonds? [print this page] We all know that playing the lottery is a form Gambling. It is obviously a well organised and established way to participate in the chance to win life changing amounts of money. The same has to be said about Premium Bonds, except there is no element of gambling involved.
The good thing about the lottery is you can play as and when you want. But if you loose, your stake as gone. I find it's always nice to buy a few tickets every week just for that little chance to win a prize. I would not buy more than ten tickets per week, that's 500 per year.
Premium Bonds on the other hand though, do give you the chance to win up to one million pounds with many other smaller prizes, right down to fifty pounds. The draws are carried out monthly, it doesn't matter if you loose your tickets because the bonds are registered to you, your prize will be sent to your registered home address.
Because these Bonds have to be purchased in one hundred pound blocks, it could be worthwhile using some of your savings to buy tickets every now and again. Please don't think or look at these bonds as an investment. Here's why. I spoke to someone some time back who inherited a large amount and was advised to max out is bond entitlement, he now as many regrets. He considered buying a house for thirty thousand pounds about twenty five years ago when he received his inheritance. That house recently sold for one hundred and twenty thousand pounds. The bonds he bought for 30.000 still as the value of 30.000. These bonds will not make you money, they just give you a safe and secure chance to win life changing amounts of money.
To conclude: The lottery could make you a multi millionaire, it's drawn every week. Premium bonds could make you a millionaire, and drawn monthly with the advantage that you are guaranteed your money back at anytime. Please remember premium bonds or not going to make you money. Only gamble as much as you can afford to loose. If you hate loosing save 100 and buy a block of premium bonds.
