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What are prize bonds? Are prize bonds a good investment?

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I'd say no. They're basically a very staid form of gambling. It's a non-interest bearing security, so your money isn't growing at all, and while you might win a million, you might never win anything at all.

Better off putting your money in interest bearing bonds, an interest bearing bank account, or stocks, which, while also gambling, tend to make money in the long term.

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