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Every month, savers have the chance to win big prizes as the Premium Bonds winning numbers are announced. There are now 24 million people taking part in the government-backed savings scheme, with ...
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.
All prizes are tax free and, with approximately 84 billion bonds issued, the chances of any one bond winning a prize for a given month are approximately 24500 to 1. However, if a bond wins a prize, that bond is not redeemed but remains 'in the pool' for all forthcoming draws (at least until the bond-holder decides to redeem it.).
The first large-scale PLSA program in the United States was created in 2009 in Michigan, called "Save to Win". [2] [3] It was introduced as a full scale demonstration by Commonwealth (formerly D2D Fund Inc.), Filene Research Institute, and the Michigan Credit Union League following research by Peter Tufano from Harvard Business School, who co-founded Commonwealth in 2001. [4]
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As the range of scratchcard games has increased, the odds of winning vary greatly. For a game with the highest available jackpot of £4,000,000, the odds of winning the jackpot are around 1 in 4,000,000, whereas for a game with a low jackpot prize (and thousands of jackpots available), the odds of winning the jackpot are as low as around 1 in ...
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