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Automatic Lottery

Purchase your banks lottery tickets every month, right from your bank account!
  [vote for,

Ok, so, the bank gives you a form to fill out saying "Yes, i'm 18 and i you can have $2.00 every month from my account to enter me into the lottery." And as i'm sure we have all thought of this idea when we were young, why not actually do it? Every month the bank randomly decides on a winning account number and POOF! In your bank the next month is half of every $2.00 they took from anyone participating. I wonder if it would save on taxes too if they thought of some special naming for it instead of lottery?
ned, Sep 15 2005

How Premium Bonds work http://www.nsandi.c...msandconditions.jsp
When I was last in the UK (a good long time ago now), Premium Bonds actually gave a very competitive investment return.
State lotteries will *never* be an advisable investment - they take too much money out as a hidden form of taxation. [DrCurry, Sep 15 2005]

ERNIE http://www.nsandi.c...surprisingfacts.jsp
[zen_tom, Sep 15 2005]


       Crazy idea, they could call them 'Premium Bonds' and have the computer that picks the winning account number called something silly like, oh I don't know, Ernie (Electronic Random Number Indicator Equipment).
zen_tom, Sep 15 2005

       Are banks allowed to run lotteries? I don't think they are in the US.   

       But this was the way Premium Bonds used to work - you could automatically purchase the bonds, and have the winnings posted back to your account, maybe to purchase new bonds.   

       Premium Bonds differ from a lottery in that the bonds do not expire - i.e., your tickets are good in every draw from now to eternity.
DrCurry, Sep 15 2005


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