blackcab

48 minutes ago, jumbo said:

This ' minimum of 3 shareholders' relates to a free hold company,  foreign owners only..

 

That's incorrect. It applies to Thai citizens too.

I really don't know what you mean by "free hold company".

3 hours ago, dddave said:

I had them once from a contaminated bag of rice brought to me by some friends from their Isan farm.

Freeze uncooked rice. No problem for the rice, but it kills any insects.

The same for flour.

On 20/02/2018 at 12:31 AM, james1995 said:

So what if a guy has 50 little thai gold bars where should he hide them?  they're heavy.

http://www.safedepositboxbangkok.com

From personal experience.

There is an Ausiris gold shop in the same building too.

On 22/02/2018 at 5:26 PM, Christopherabhadra said:

i am quite interested to know if OP could finally register his marriage or not

After nearly 4 years he could be divorced and remarried.

Are you both Thai, both non-Thai or is one spouse Thai and the other spouse non-Thai?

Or you could post in the public forum - after all this is what it's for.

You never know - somebody else could benefit from the replies you receive.

Sick leave cannot be carried forward at all.

21 hours ago, Fish Head Soup said:

Kasikorn bank in Nong Prue would not accept them yesterday.

Sorry - we were completely off topic and talking about one pound coins and depositing them in a UK bank.

@ChouDoufu Thank you for taking the time to write the update. Very interesting indeed.

It would be interesting to know how this affected her credit bureau status.

10 minutes ago, Sirbergan said:

That's a non-answer, not addressing the basis of my question as I've been played for a fool before. Is there a good reason to trust their draws, when most Thai people doubt the legitimacy of the official lottery?

Pop along to the GSB head office on Phaholyothin Road on the afternoon of the 16th. Ask to watch the draw.

I've never been, so it would be good to find out how it all happens.

If it's completely bent it would be good to know.

5 minutes ago, jackdd said:

I think blackcab did not mean that all prizes are awarded every month, but just that somebody wins something every month. Maybe you can specify this blackcab

All possible prizes are awarded each month. So 3 x 10 million each month, etc.

1 minute ago, Sirbergan said:

So is it based on the draw on the 16th? Or are you saying that a bank owned by the government is to be trusted 100%, even if the draws are not official?

Please read the thread for your answers.

If the bank/product is not to be trusted then why would I invest in it? I'm nobody's fool.

10 minutes ago, Sirbergan said:

...and this being a completely unofficial draw there is no way to ensure no corruption is going on.

Please read the thread before posting incorrect and uninformed comments that make you look quite dense.

The lottery is an official product of the Government Savings Bank - a bank 100 per cent owned by the Government.

10 minutes ago, Brunolem said:

Well, if I remember my probabilities courses from long ago, the number of combinations of 7 digits out of 10 possible digits is 10x9x8x7x6x5x4x3 = 1,814,400

And then there are the 42 possible Thai letters, which gives us 1,814,400 x42 = 76,204,800 combinations!

The odds of winning are ridiculously small!

Somebody wins the prizes every month. My son won 4th prize (10,000 baht). His great uncle won 2nd prize (1 million baht) and a friend's driver won 5 million baht, so it's not unheard of.

I do agree it's statistically improbable, however I do hope my son wins 1st prize  (10 million) as that would just about pay his school fees.

2 hours ago, Brunolem said:

My bad...I indeed thought it was the state lottery...I didn't know there was another one...

 

How many digit long are these numbers? (Just to estimate the odds...)

There is one Thai character followed by 7 numbers. So for example:

ภ 1230000

The block of numbers I have got starts at 45xxxxx.

8 minutes ago, Sirbergan said:

What is the top prize?

6 minutes ago, lassebasse said:

For me it was initially very confusing when this was called a "Lottery". Instead this a kind of Government Savings Bond where instead of interest your Bonds participate in a monthly drawing of Wins. Now that I understand this I only wonder if these "Loans" are listed. The value of the loan should vary over time and also vary according to the rate on deposits.

It's a 3 year deposit with a fixed, guaranteed interest rate. The only difference is you have a slim chance of winning a larger amount through the monthly draw.

51 minutes ago, Brunolem said:

If I understand correctly, this system means that you actually play the lottery for free !

You never lose, you can only win...

 

Is that right?

 

Now, what about these "tickets"?

Say you get 10,000 tickets for a 500,000 baht deposit...how does it work?

Are the ticket numbers allocated randomly or can you chose?

Is an equal quantity of tickets randomly played at very draw (twice a month) or can you decide which tickets you are going to play at any given draw?

Can you play the same number many times?

 

Thanks for your input...

It seems to me that you think this is the Thai state lottery where you buy 80 baht tickets from people on the street. It is not. Please read my earlier posts.

You don't get tickets. You get a consecutive series of, for example, 10,000 numbers. The start and end number are shown on your purchase slip. You cannot choose the numbers.

The draw is once a month, not twice a month. It is held on the 16th day of the month.

You play the same series of numbers every month for 36 months.

Can you lose? That depends on what the interest rate does while your money is locked away for 3 years.

14 minutes ago, KKr said:

does not look like this is the Thai Government Lottery at all.
More like an innovative long term funding scheme for the Bank that is organising this.

The bank is 100 per cent owned by the Government - hence the name Government Savings Bank.

This is not the same lottery where you buy 80 baht tickets from itinerant sellers. The opetators are different, but the ultimate owner is the same.

Technically nobody can own 100 per cent of a company as there must be a minimum of 3 shareholders.

In a 2 million baht company with 20,000 shares of 100 baht each one person can own 19,998 shares. A second person must own 1 share and a third person must own 1 share.

There was discussion about changing this rule so one (Thai) person could own 100 per cent of the shares, but no action as of yet.

40 minutes ago, Bob12345 said:

Knowing the Thai government lottery has a pay-out ratio of 60%, it becomes almost a certainly you lose 40% of your money when you play with enough tickets for long enough.

i.e. when you buy all tickets for an upcoming draw, you are guaranteed to lose 40%.

 

So why would anyone want to do this?

The principal sum invested is returned to you in full after 3 years. You received a guaranteed return for 3 years at the rate offered on the day you purchase. You may possibly get lucky and win a large prize, but like all lotteries this is statistically improbable.

You definitely don't lose 40 per cent of your investment. Like any fixed investment, you can lose if interest rates go up over the 3 year period, but that's not been happening lately.

I wish it would though.

36 minutes ago, jackdd said:

So if i understood it correctly: You deposit a specific amount of money (let's say 500k THB) on a fixed term savings account for 3 years, in return you get "virtual lottery tickets".

The winnings of these lottery tickets is the "interest rate" that you get.  They guarantee that you will get at least 1.12% interest on 500k THB.

Blackcab got slightly more than 2% "interest" per year in the first 2 years.

Completely correct.

50 minutes ago, HatYai2 said:

Is this open to everyone? Can one invest in increments or only once off?

Open to anyone over 7 years old. You can invest multiple times, but each time is a new investment.

The 3 year period starts the day you invest, so it's not possible to 'top up' previous purchases.

To clarify, each purchase gets a new lottery card with different ticket numbers with an expiration date in 3 years time.

42 minutes ago, Pungdo said:

I have a question on this very topic, what if there is no sale taking place and I just wanted to change the owners name to my daughter instead of the wife ??

Are there still Land Taxes etc involved ??

Every change of owner is considered to be a sale. The government collects tax from the sale of property, and if they allowed free transfers people would evade the tax.

You change the owner, you pay. However, there is a heavily discounted rate for transfer between parents and children.

The land office are very helpful. Get your wife to take the Chanote and go with her and ask them how much the tax and fees would be. It's not a secret.

You go to the bank and deposit a fixed amount: 5,000, 50,000, 100,000, 500,000 up to 5,000,000 baht. The amount can differ from the above, but it has to be a round number, based on each ticket costing 50 baht. You can buy 100 tickets for 5,000 baht or 10,000 tickets for 500,000 baht, for example.

At the same time you will open a savings account where your winnings will be deposited. Winnings are deposited on the 17th of the month. Interest on any amount in the savings account is paid biannually on 30th June and 31st December.

You are given a card to show ownership of the lottery account (you don't actually get thousands of tickets), and a passbook for the savings account.

The draw takes place monthly on the 16th of the month. Winnings are automatically credited to your savings account the next day. Any wins over 5,000 baht and you get a postal notification.

The lottery ties up your money for 3 years. At the end of the 3 years you take your card to the bank and they immediately transfer the principal sum into your savings account. At this point you can reinvest in the lottery if you want to.

Warning: You will not receive notification the ticket has expired. It is up to you to redeem it. If you don't, you will not be paid any future prizes because the 3 year fund has expired.

The overall interest is calculated on the volume of tickets you buy. This is because if you purchase, for example, 10,000 tickets, you will be guaranteed a fixed number of small wins simply due to the statistics of how the lottery is drawn.

Attached is a current lottery card with 10,000 tickets costing 500,000 baht, and the corresponding savings passbook that was opened on the same day so you can see the winnings and interest.

After 2 years there is about 22,000 baht from 500,000 baht deposited, mainly due to one win of 10,000 baht.