A complete lottery

[neeko]

Is there a website that works out the EV of the weeks ticket?

Most weeks it is £2 cost , EV £1 but some weeks the rollover must make it +ev

[Graham C]

Quite suprised that in a forum fuill of punters, hardly anyone does the lottery  Too shrewd I guess.

Just watched the video link. Not keen on the increase in numbers, I didn't realise that was happening.

[arbboy]

Didn't realise it had moved to £2 and the 59 numbers have changed.  Seems a stupid move to me.  All the big syndicates will just spend the same on half the number of lines and the £1 throwaway casual punters might be put off playing at all.  What is the aim of the changes?  More rollovers as it is harder to win?  Seems crazy to double the price of playing at the same time as making it several times harder to win it.

[George2Loose]

It doubled a while ago

[neeko]

Didn't realise it had moved to £2 and the 59 numbers have changed.  Seems a stupid move to me.  All the big syndicates will just spend the same on half the number of lines and the £1 throwaway casual punters might be put off playing at all.  What is the aim of the changes?  More rollovers as it is harder to win?  Seems crazy to double the price of playing at the same time as making it several times harder to win it.

They want to give a prize of £1m every time (done via the raffle numbers), then multiple roleovers to get some big headline prizes.

[arbboy]

Didn't realise it had moved to £2 and the 59 numbers have changed.  Seems a stupid move to me.  All the big syndicates will just spend the same on half the number of lines and the £1 throwaway casual punters might be put off playing at all.  What is the aim of the changes?  More rollovers as it is harder to win?  Seems crazy to double the price of playing at the same time as making it several times harder to win it.

They want to give a prize of £1m every time (done via the raffle numbers), then multiple roleovers to get some big headline prizes.

Cheers.  I don't follow the lottery at all so have no idea about changes etc.  How does the raffle work to gtd £1m every draw?

[neeko]

Didn't realise it had moved to £2 and the 59 numbers have changed.  Seems a stupid move to me.  All the big syndicates will just spend the same on half the number of lines and the £1 throwaway casual punters might be put off playing at all.  What is the aim of the changes?  More rollovers as it is harder to win?  Seems crazy to double the price of playing at the same time as making it several times harder to win it.

They want to give a prize of £1m every time (done via the raffle numbers), then multiple roleovers to get some big headline prizes.

.
Cheers.  I don't follow the lottery at all so have no idea about changes etc.  How does the raffle work to gtd £1m every draw?

In addition to your 6numbers you get a unique second set of numbers letters eg gold 1234 5678 - then one of those gets the mil, at the moment this code gets one of 50 £20 k prizes

[doubleup]

Is there a website that works out the EV of the weeks ticket?

Most weeks it is £2 cost , EV £1 but some weeks the rollover must make it +ev

Even if it is EV+ with a rollover, the chance of realising the EV is obviously minuscule.  One other issue is the marginal utility of the bigger prize is less than a standard jackpot.  If I ran the lottery I would find a way to distribute the rollover money into the smaller prizes, this would have the effect of getting more people buying tickets thus increasing the jackpot while giving lots more people a little prize and encouraging them to continue playing.

[tikay]

Are Premium Bonds still in existence?

Always thought they were a decent investment. You forego interest, but that interest becomes the prize fund.

Once a week there was a draw, but here's the thing - if you never won, you still had your ticket (unlike the Lottery) & you went in the draw the next week, & the week after, & so on. Pay your quid, & you were in every draw forever more. How good was that?

[booder]

Are Premium Bonds still in existence?

Always thought they were a decent investment. You forego interest, but that interest becomes the prize fund.

Once a week there was a draw, but here's the thing - if you never won, you still had your ticket (unlike the Lottery) & you went in the draw the next week, & the week after, & so on. Pay your quid, & you were in every draw forever more. How good was that?

Yes they are. My Dad regularly gets £25 and £50 wins which he reinvests. Still waiting for the big one.

[Graham C]

Mrs C has a few premium bonds, does OKish out of it. Good thing is the money isn't going anywhere, bad thing is that there are only 2 jackpot winners so it's even less chance of winning than the lottery.

[nirvana]

Are Premium Bonds still in existence?

Always thought they were a decent investment. You forego interest, but that interest becomes the prize fund.

Once a week there was a draw, but here's the thing - if you never won, you still had your ticket (unlike the Lottery) & you went in the draw the next week, & the week after, & so on. Pay your quid, & you were in every draw forever more. How good was that?

Yup, notionally pay 1.35% interest so probably a little better than a standard savings account if you run averagely. If you have dead money that you don't intend to be more speculative with, and with interest rates so low, there's worse places to stick the odd 50K if you have that lying around.

Additional benefit of money being totally secure with NS&I - well unless there's a zombie apocalypse or summat in which case it doesn't really matter

[lucky_scrote]

Are Premium Bonds still in existence?

Always thought they were a decent investment. You forego interest, but that interest becomes the prize fund.

Once a week there was a draw, but here's the thing - if you never won, you still had your ticket (unlike the Lottery) & you went in the draw the next week, & the week after, & so on. Pay your quid, & you were in every draw forever more. How good was that?

After a quick search online, you get a return of about what the interest rate, whatever that may be.