With Premium Bonds, you don't earn interest on your capital. Instead, you
are entered into a prize draw, with each 1 Bond having an equal chance of
winning a prize. The prize pot equates to a tax-free annual return of 3.2%
so, with average luck and a decent-sized holding, your money should grow
slightly over time. That's more than you can say for the Lottery!

ERNIE, the computer that picks the random numbers for National Savings and
Investments, creates a millionaire every month. However, there are 26
billion Premium Bonds in circulation, shared between 23 million Bondholders,
so a 100 Bond would give you a 1 in 260 million chance of winning the big
one. However, around 200,000 people have invested the maximum 30,000 into
Bonds, and these big hitters have a roughly 867,000-1 chance of winning the
top prize. So, for all but the big players, Premium Bonds are strictly a bit
of fun, plus an outside chance of a big win.

(Motley Fool)

Yes Mike, but just like with the lottery, if you aren't in it you wont
win it. If you have a couple of quid spare then there are plenty of
worse ways to spend it!

But quoting the lottery is not a good argument! 
It is simply falling for the sales tactics of Camelot.
The vast amount of people who have entered the lottery have lost money. 
Those who have won can truly be called lucky!
The best way to win "Is" to be in - In Free comps!
 ;o)

Mike

"Ed B"  wrote in message news:1114179596.430589.18560@g14g2000cwa.googlegroups.com...

> Yes Mike, but just like with the lottery, if you aren't in it you wont
> win it. If you have a couple of quid spare then there are plenty of
> worse ways to spend it!
>

Mike is right that the lottery is a particularly poor bet - many call
it a tax on fools - but I'd still rather play the lottery and dream
than put my £2 a week in a pot and end up with £100 at christmas

That would be £104 *every* Christmas!   :o)
And just dream of winning a free to enter comp...
I've won more on Brainteaser than most people can (reasonably!) hope to win via The Lottery.
But each to their own.

Mike

"Ed B"  wrote in message news:1114183173.344785.6870@z14g2000cwz.googlegroups.com...
Mike is right that the lottery is a particularly poor bet - many call
it a tax on fools - but I'd still rather play the lottery and dream
than put my £2 a week in a pot and end up with £100 at christmas