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sarahbell

Lottery every day now except Sunday

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New lottery draw. £10k a month for 30 years.

HERE'S WHAT YOU'RE PLAYING FOR Δ

  Matches … You Win  
  5 MAIN NUMBERSPlus the Life Ball
     + 
£10,000 EVERY MONTH FOR 30 YEARS  
  5 MAIN NUMBERS
     + 
£10,000 EVERY MONTH FOR 1 YEAR  
  4 MAIN NUMBERSPlus the Life Ball
     + 
£250  
  4 MAIN NUMBERS
     + 
£50  
  3 MAIN NUMBERSPlus the Life Ball
     + 
£30  
  3 MAIN NUMBERS
     + 
£20  
  2 MAIN NUMBERSPlus the Life Ball
     + 
£10  
  2 MAIN NUMBERS
     + 
£5

SET FOR LIFE PRIZE PAYOUT

Prize Payout Percentage

Each time you play a National Lottery game you help National Lottery supported Good Cause projects. The total amount of money delivered to these projects depends on a number of variable factors, including the percentage of ticket sales that is made available to pay out prizes (the prize payout) before proceeds are passed on to Good Causes.

With the agreement of the Gambling Commission, we may decide to change the prize payout for National Lottery games from time to time. This means we can always ensure an appropriate balance between prizes and funding for National Lottery Good Cause projects.

Currently, on average, 54.4% of sales for Set For Life are available to be paid out in prizes. The actual prize payout in any draw will vary as it is dependent on the number of winners in the draw, especially of the top prize.

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17 minutes ago, Frank Hovis said:

As the RPI index, starting at 100 in 1987, is now nudging 300 if you had won that in 1987 the £10k would be worth £3k something when it expired.

Lump sum prizes are much better.

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/chaw/mm23

What happens to the £10k per month for 30 years if you die in the intervening years. No doubt it dies with you. Terrible idea.

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Just now, longtomsilver said:

What happens to the £10k per month for 30 years if you die in the intervening years. No doubt it dies with you. Terrible idea.

Yep.

When I've seen it in the past it has given you an option to pick lump sum or monthly payment.

If you're useless with money or just don't have a clue about investments then it would be worth going for the monthly payment; for everyone else that would be a no.

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49 minutes ago, sarahbell said:

Your estate gets the rest.

Thanks for clearing that one up for me still I'd sooner have the £3,000,000 and derive an income from this. As Frank Hovis commented money management isn't a skill set many people possess - hence BTL and forestry investment schemes.

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1 hour ago, longtomsilver said:

Thanks for clearing that one up for me still I'd sooner have the £3,000,000 and derive an income from this. As Frank Hovis commented money management isn't a skill set many people possess - hence BTL and forestry investment schemes.

And my latest classy wines and basoon import scheme.:(

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36 minutes ago, Green Devil said:

Bit like a pension. Forego a lump sum. Now for a hope of a monthly payment for a long life. 

That's deliberately structured that way so that people don't blow it all on a Lamborghini and then end up drawing benefits.

Hence pension auto enrollment; it's not to help the worker rather it's aimed at reducing the likelihood that they will be able to claim benefits, pension credit or whatever, in retirement.

Most people like the monthly income as it's what they have been used to since they were receiving pocket money as a child; few people I know have any concept of investing or have any aim to have substantial savings (more income = better car, holiday or house rather than more savings) so the monthly pension payment suits them fine.

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I got four numbers on Saturday from a lucky dip I won on Wednesday for two numbers. £140 kerchiing!

Seeing as I have played one line every Saturday and Wednesday (since they started) I am now up by...........oh.

Still gonna hang on for the big one or death, I know which is more likely :-)

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The fact that the winnings are so convoluted suggests immediately to me it's for the financially inept, even by lottery standards. 

Interesting mind that they've come up with this model. Must be the number of big money winners who have gone broke, hurting their bottom line. Last thing they want is people to cotton on. 

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1 minute ago, spunko said:

The fact that the winnings are so convoluted suggests immediately to me it's for the financially inept, even by lottery standards. 

Interesting mind that they've come up with this model. Must be the number of big money winners who have gone broke, hurting their bottom line. Last thing they want is people to cotton on. 

It's could be a lottery advertising type of winner. In that you aren't rich enough just to fuck off somewhere and live in isolation and fear, but might stay where you are, lording it over the local population.

 

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6 hours ago, maynardgravy said:

Am I the only one here who's never done the lottery? No one is getting my money. 

One view is that if 99.99% of your savings sit in low risk investments such as tracker funds then sticking two quid on something ultra high risk is balancing it out.

I don't make a point of it but if I notice that it's rolled over a few times then I will buy a ticket on the grounds that it has acquired additional value from the previous rolled up unwon funds.

My scratch card experience is similar to others; I bought a couple in the mid 90s, won £10, thought "great", spent it on ten scratch cards, lost it all, felt stupid, haven't bought one since.

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17 hours ago, maynardgravy said:

Am I the only one here who's never done the lottery? No one is getting my money. 

It's a tax on the stupid, I've never bothered with it. Actually, I remember that I did it once when someone at work persuaded me to part with £2 when the Euro one rolled over to some stupendous amount. I won £3. I've not bothered since.

Edited by Dipsy

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13 hours ago, Frank Hovis said:

One view is that if 99.99% of your savings sit in low risk investments such as tracker funds then sticking two quid on something ultra high risk is balancing it out.

 

I'm going to heed this excerpt as proof of my balanced portfolio :-)

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5 minutes ago, Great Guy said:

My colleagues at work have a syndicate and won basically nothing. I'd absolutedly kick myself if they won £100m and fucked off to Thailand for the rest of their life's though 🤔

Get in it now!

Even if you aren't bothered about winning it if everyone with whom you work swans off loaded leaving you at your desk desperately trying to feel pleased for them you will feel at least a twinge of regret.

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3 hours ago, Dipsy said:

It's a tax on the stupid, I've never bothered with it. Actually, I remember that I did it once when someone at work persuaded me to part with £2 when the Euro one rolled over to some stupendous amount. I won £3. I've not bothered since.

That’s a bit harsh although I agree that many desperate people get addicted to buying lottery tickets when their life situation and income can’t finance gambling.

I know a local businessman who has been extremely comfortable for years and employed people fairly. He puts £100 per week on lottery/euromillions. He doesn’t need the money but IMO he’s a bit naive chucking that money to the national lottery but he believes he’s helping good causes O.o. If he won big he would be spreading the money around because he has all he needs and wants.

On the other hand I know plenty folk who never buy lottery tickets and they are also fairly secure in life financially. A lottery win would make no difference to their life because they are happy with their life position.

Now and again I’ll buy a lottery ticket if it’s a must be won rollover or a huge jackpot, even an occasional scratchcard. I’m not financially secure in life so it’s a balance for me of having a punt now and again but not wasting money.

If I knew myself and my kids would be financially secure for life it wouldn’t cross my mind to ever buy a lottery ticket. 

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Just now, Great Guy said:

My colleagues at work have a syndicate and won basically nothing. I'd absolutedly kick myself if they won £100m and fucked off to Thailand for the rest of their life's though 🤔

We had a syndicate in our department at a large company where we done all combinations of 8 numbers in the very early days of the lottery (28 combinations from memory) which I looked after, and early on we got 3 numbers which meant 10 wins - £100. We decided to bang the whole lot on the next draw in 100 lucky dips...total win £0.

At my current small company we had a syndicate of about 20 of us for a few years, and even the MD joined in. I did wonder why the man who was running the company wanted to, but it made perfect sense when he said "If you lot win big and leave overnight, I haven't got a company anymore"

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