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Prize Bond Sales Soar

Topic closed. 2 replies. Last post 7 years ago by myturn.

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Bondi Junction
Australia
Member #57242
December 24, 2007
1102 Posts
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Posted: November 6, 2009, 9:31 pm - IP Logged

I read in the Irish media that, the sales of Prize Bonds are up 26 % this year -pushing the fund to just over €1bn. Irish Prize Bonds are a cross between a lottery and an investment.

 

The Irish Government raises money by selling Prize Bonds, but instead of paying interest to bondholders, the interest earned is awarded to bondholders by lottery.

 

I have some bonds and I have won a few small prizes, they are a bit of fun and who knows maybe I might win big prize or jackpot one day. I am included on all draws, while I hold the bonds, I can cash in the bonds at any time.

 

American states should consider similar types of bonds to raise revenue. The Federal Government should also consider such bonds to help fund health care. People who support a public option, could show their support by buying "Health Care Bonds".

We all get a lot out of lotteries!

    time*treat's avatar - radar

    United States
    Member #13130
    March 30, 2005
    2171 Posts
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    Posted: November 6, 2009, 11:23 pm - IP Logged

    People who support a public option emotionally, want others to support it financially.

    The states have a multitude of games. Some just manage things better than others.

    In neo-conned Amerika, bank robs you.
    Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

      Bondi Junction
      Australia
      Member #57242
      December 24, 2007
      1102 Posts
      Offline
      Posted: November 7, 2009, 9:03 pm - IP Logged

      The UK has similar Bonds, called Premium Bonds. In his Budget of 17 April 1956, Harold Macmillan,then Chancellor of the Exchequer, announced that Premium Bonds were to be launched to reduce inflation and to encourage thrift among those who were attracted not by earning interest but by winning prizes.

      In the early years Premium Bonds were the lottery of the day; celebrities including Bruce Forsyth, Bob Hope and Dame Judi Dench announced the top prizes and they were popular as presents, as well as for saving.

      However, since the 1990s, Premium Bonds have undergone a substantial renaissance, with the amount invested rising from £4 billion in 1994 to £40 billion in 2008.

      I have UK premium bonds, I buy monthly by direct debit. My bonds are included in all monthly draws, and I have the change to win the monthly million pound top prize, or one of the smaller prizes.

      The US should strongly consider introducing such bonds, they could be called "AMERICA BONDS", who wouldn't want to buy them? The Federal Government could raise billions!

      We all get a lot out of lotteries!