Gersemi wrote:So the article says 'smaller stakes . . . have a lower "interest rate" '. So if you look at 500 holders with £100 stakes and compare their combined winnings to one holder with a £50,000 holding over a period of time, they will on average win less? That doesn't sound right to me.
Well, if you combine the winnings of ALL the PB winners then you WILL get to a rate of 1.4% pa (or whatever). That DOES NOT mean that the typical PB holder with £100 gets 1.4%, they wont. Typically they will get ZERO.
The PBs are capped - max individual holding 50,000; max holding time one human lifetime. PLUS - the prizes are quantified NOT continuous.
To guarantee that 1.4% pa in winnings you would either have to:
Hold millions (billions?) of PBs for one year - you cannot.
Hold your PBs for 100s of thousands (millions?) of years - you cannot.