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Premium Bonds is a lottery bond scheme organised by the United Kingdom government since 1956. At present it is managed by the government's National Savings and Investments agency. The principle behind Premium Bonds is that rather than the stake being gambled, as in a usual lottery , it is the interest on the bonds that is distributed by a lottery.
As well as the two £1m bonds, there are 18 winners of £100,000, 36 of £50,000, 71 of £25,000, 178 worth £10,000 and 357 with a £5,000 prize. The chances of all bonds winning are the same ...
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The number of higher cash prizes for bondholders is set to increase in next week’s draw Premium Bond prize rate to rise to 15-year high: Rules and odds explained Skip to main content
Lottery bonds are usually issued in a period where investor zeal is low and the government may see an issue failing to sell. By knowing ahead of time when the coupons will be paid and how many bonds will be redeemed at the original value and at the lottery value, the issuer can value the bond accurately and know ahead of time the cost of the borrowing.
Electronic Selective indicator equipment (ELSIE) was the machine that first selected Bonus Bonds in the 1970s. Each month the trust paid out a total of NZ$7.9 million, consisting of 248,000 random tax-paid cash prizes, based on the amount invested, with three top prizes: one of $1,000,000, one of $100,000 and one of $50,000. In order to ...
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A prize-linked savings account (PLSA) or lottery-linked deposit account is a savings account in which some of the interest payment on bank deposits or marketing dollars are distributed as prizes based on chance.