Lottery/Premium Bonds????

[Investment Forum]

I know these exist in the UK, but I cant figuere out if they exist in the US or not?

And does anyone know if lottery/premium bonds exist from non-gov entities? Such as banks for example, if they issue them or not?

Any help in this field would be appreciated, its really a havoc out there.

 

[Martinghoul]

To my knowledge, the answer to both your questions is no. These don't exist in the US and are only issued by govts.

 

[Investment Forum]

So its only EU govs that has this instrument?

 

[Martinghoul]

So its only EU govs that has this instrument?

Yes, as far as I am aware...

 

[shadowninja]

I'm not sure they're bonds in the traditional sense of the word... you take your savings, buy a load of them, £1 per bond, then every end of the month they have a draw. Once you realise you're wasting your time, you can withdraw the entire sum.

 

[Martinghoul]

I'm not sure they're bonds in the traditional sense of the word... you take your savings, buy a load of them, £1 per bond, then every end of the month they have a draw. Once you realise you're wasting your time, you can withdraw the entire sum.

They are perpetual, zero-coupon bonds, redeemable at par...

 

[shadowninja]

:help::jester:

 

[arabianights]

That said, similar instruments have existed for a long time. Perhaps the most interesting was a Tontine: http://en.wikipedia.org/wiki/Tontine

 

[bedsit]

Once you realise you're wasting your time, you can withdraw the entire sum.

:clap: