What is the best way to win £1,000,000?

Genuine question. I’m sure there are some other options like selling PPE to the government but if you actually want to legitimately win £1m what will give you the best odds? Premium bonds are popular on here. If you had say £10k would you be better off sticking it in a savings account making £35 a month and use that money to buy lottery tickets? Would that do better than the same in premium bonds? Are all lotteries similar odds? Any alternative methods? Can you place a realistic 1000000 to 1 bet at a bookies or casino? Some kind of accumulator. Anyone done the maths on this?

I know actually winning is highly unlikely but I suspect we all have that thought about what we do if we won some big money.

30th anniversary of the national lottery got me thinking. I quite like the fact it does benefit others and I know lots of people and groups that have received lottery funding over those years.

depends on your attitude to risk, investment is the best option to make £1m, be that investing time and effort into a business or venture, or stock market investment

I once saw an interview with Richard Branson. Ahead of it, he promised he was going to tell everyone how to become millionaires. The advice he gave was “first become a billionaire, then buy an airline.”

Quite happy to win a million any old way

putting £500k on red is pretty good odds.

failing that find some footy game which is almost a given (3rd round of the FA cup where some non league team has drawn a premier league team) and bet £999,999 on the fact it won’t be 10-0 to the non league team.

Roulette, £500,000 on red?

Beaten to it 🙂

Buy a nice house in 1960.

Both the kids have £50k in Premium Bonds from an inheritance – they get maybe £2k a year in winnings. Or at least, if they’ve won big they haven’t told me.

Most reliable is probably to go on Who Wants to be a Millionaire and choose your friends wisely.

Or persuade 100,000 gullible fools to send you £10 to find out your secret to becoming a millionaire

Buy £2,000,000 of lottery tickets.

Put £500k on red and £500k on black, you’ve got a 36 in 37 chance of winning a million. 🙂

I always thought Roulette odds were interesting because as what you do, with sufficient rolls and taking zero out of the equation the odds never change. You have a 50% chance from winning on red which is a 1:1 payout. You have a 33% chance of winning on betting 1-12, payout 2:1. You have a 1 in 36 chance of winning betting on 17, payout 35:1. Betting on every number individually will guarantee a win and net you your entire stake back. Given a fair wheel, you’re always going to break even over time no matter how you bet.

But of course, there’s 0 (and US wheels often have 00 also) which tips the odds against you. So Roulette will always leave you slightly worse off unless you play one or two games, get lucky and then walk away. In the long game, the house always wins.

Both the kids have £50k in Premium Bonds from an inheritance – they get maybe £2k a year in winnings. Or at least, if they’ve won big they haven’t told me.

They’d make more by moving it to a cash ISA… I mean they could get very lucky and win big on premium bonds, but ISA is guarenteed interest at 4.7% ish.

2k per year on 50k premium bonds is only 4% which is really quite lucky for premium bonds, are you sure its averaging that much?

Premium bonds don’t make a huge amount of sense unless you’ve already maxxed out your ISA allowance for the year.

Maybe to clarify the original question, of course there are ways if you have £500000 or a billion or whatever, but if you have a reasonable, realistic saving pot of say £10k but fancied a gamble rather than shares etc what could you do? What are the chances of winning seven figures on the premium bonds? If you stick it into savings and spend the £35/month interest on lottery tickets is that better/worse. If you were feeling like a gamble you could stick it all on a horse at 100:1 (which doesn’t actually sound that long!), or could you get a some longer odds from a bookies or casino so you could flutter that £35/month with some chance of winning £1m? Any other options?

Find someone to sue for something.

Move to America and get paid to vote for Trump.

What are the chances of winning seven figures on the premium bonds?

Very low, according to MSE, these are the winnings odds for £50k in premium bonds over the year…

Pick the right crypto shitcoin and get in/out before the rugpull.

I’d actually favour the odds of this over some of the options above (certainly the lottery), but it’s still obviously very long.

NVIDIA seems a popular stock, go high risk by buying 3NVD [a 3x Nvidia ETP leverage share].

you’ll have to sign a disclaimer you understand the high risk of this investment, effectively for every dollar nvidia share go up you make 3, or vice versa.. i started watching them at £23 early september, today they are £57

your £10k would be nearly £25k, along way to go to make £1m

stick to the tax on the mathematically challenged, aka national lottery for the £1m

Can you place a realistic 1000000 to 1 bet at a bookies or casino?

I’ve always wondered whether you can place a one pound bet at the bookies on some random lottery numbers.

If choosing six numbers would they offer you the odds of 13,983,816 : 1?

Better payout than most weeks jackpot.

I’ve always wondered whether you can place a one pound bet at the bookies on some random lottery numbers.

If choosing six numbers would they offer you the odds of 13,983,816 : 1?

Are you Irish?

Pick the right crypto shitcoin and get in/out before the rugpull.

I’d actually favour the odds of this over some of the options above (certainly the lottery), but it’s still obviously very long.

I was going to say find some ponzi schemes and get out before it collapses.   Rinse and repeat.

Eventually bitcoin might hit a million, but you’d need to have £100k now to get one.  But if you invested something, pulled it before it crashes, then put it back in in a years time with twice as much coin, wait for it to  go up 400%, repeat, etc.  Sounds easy, and some crypto-bro’s will sell it as a certainty.  But in reality there’s a whole load of people who lost their shirt when it crashes as well because it was only pumped up because more people were buying in.

Just did fag packet maths on this. With 10k  in premium bonds you have 1/501000 chance of winning big in a year. With 10k in savings the interest (£420) should be enough to buy 210 lottery tickets per year which I think makes a 1/214000 chance of a jackpot win, so better odds (there is variation in the prize value). Seems option 2 is more sensible, you keep your stake and should win some bonus small prizes either way.

If there was a fairish bet like a huge roulette wheel with 1000001 numbers and 1000000 to 1 return then the chance of winning big would drop 1/2380, is that right? Sounds quite good, although obviously it doesn’t exist

Probably a mistake or two in there somewhere if anyone cares to check

I think a casino is probably best. There is a slight complication in that tables have max and min bets.

Just go into a casino. Place £20 on any number. Put all your winnings on any number. Put all your winnings on any number.

You now have £933,000.

In think the chance of this happening is 1 in 48,627

There is no way the lottery can top that as they skim for good causes

Just go into a casino. Place £20 on any number. Put all your winnings on any number. Put all your winnings on any number.

As you say the table limits will probably make it impossible. You’d also need massive balls to place that third bet.

I was wondering if there was a real option like this. Can you do an accumulator with 3 100 to 1 horses (also, how often do these outsiders actually win)?

Very low, according to MSE, these are the winnings odds for £50k in premium bonds over the year

But does anybody here have £50k in premium bonds ? maybe say what kind of prizes they’ve won in 1 year, or an average over 5, 10, etc

but if you have a reasonable, realistic saving pot of say £10k

Ha! Neither reasonable or realistic for some. Putting all my money on black on a roulette wheel is my retirement plan.

I was wondering if there was a real option like this. Can you do an accumulator with 3 100 to 1 horses (also, how often do these outsiders actually win)?

Very occasionally there are stories in the papers about a bookie forced to pay out on a wildly high odds accumulator bet, usually for things like a series of horse races or a league-long set of football matches. Sometimes a £1 bet but on the outcome of a dozen horse races.

The equivalent would be staking a £1 bet on the result of every TdF stage and having all 21 of them come up, knowing that at any point if your run of predictions stopped, you’d lose the lot. But if you successfully predicted Stage 1 AND Stage 2 AND…etc it’d accumulate to hundreds of thousands / millions of ££

£200 on Leicester winning the league in the year they did would have got you the mil. Most people who did have bets on either cashed out early, or only had a quid or two on it.

£80 double on the 2 horses which won today at Lingfield at 100/1 and 125/1.

Eventually bitcoin might hit a million, but you’d need to have £100k now to get one.

The time to invest in cryptocurrency was back when everyone was laughing at it. That ship has long since sailed.

Its not horses but this came in at 166,990:1.

But it was so unlikely the winner had only put €0.24 on it. Still won him €39k though!

£6 would have won you the million

https://www.thedrive.com/accelerator/36263/lucky-gambler-wins-big-after-betting-on-a-gasly-sainz-stroll-podium-at-f1-italian-grand-prix#:~:text=Per%20Scandinavia’s%20Yle%2C%20the%20unnamed,%2Dconquering%20Mercedes%2DAMG%20team.

Open a casino?

But does anybody here have £50k in premium bonds ? maybe say what kind of prizes they’ve won in 1 year, or an average over 5, 10, etc

Scroll up a bit….

This reminds me of a few years back when the lottery added 10 more balls, citing the consultation where players had said they wanted “more ways to win”.

Open a casino?

Just dont have Donald Trump manage it. He’s bankrupted three of them.

.

Or you could take a leaf out of Fauxrages book and start a far right political party. Plenty of scapegoats about and the great unwashed do love a target to project all their ill’s onto.

The money will come rolling in.

I won £2.70 on last night’s EuroMillions, a profit of 20p.

I’ve done OK recently, a few wins of between £2.50 and £4(ish).

However it’s not £1m. Not by quite a long way.

I take a punt on a “millionaires raffle” ticket with the Irish lottery at Christmas. They only sell 600,000 tickets with guaranteed winners (just 1 millionaire winner though) better odds of winning compared to the lotto (1 in about 10 million) or the euro millions (1 in about 100 million). Never won a penny yet, and at €25 a ticket I am down a couple of hundred so not the best strategy.

If choosing six numbers would they offer you the odds of 13,983,816 : 1?

used to be the odds, til they added more numbers. Now it much longer odds

Every time your phone rings answer quickly and say “Make me a winner “?

Read up about Martingale System.

And then don’t do that.

Ha! Neither reasonable or realistic for some. Putting all my money on black on a roulette wheel is my retirement plan.

Try putting a few extra curricular hours in at work, boss might give you a bonus 😉