GSB Savings Certificate (Lottery)

[BobBKK]

Do you have any views on this?  I see on the web site 30m first prize monthly - and many other prizes but can find no list of these 'other prizes'.

Some Thai friends tell me that many rich Thais invest the maximum 10m baht and swear they get 100,000/200,000 a year back—some a million. I'm not sure how factual this is.

[rwill]

They have regular interest paying accounts and then they have the 'lottery accounts'.  Instead of paying everyone interest they have drawings for the payouts.  So for every big winner there are way more that got nothing.

[chuang]

The more you invest/deposit the more lottery tickets you have...

[john donson]

legal gambling

[BobBKK]

3 hours ago, rwill said:

They have regular interest paying accounts and then they have the 'lottery accounts'.  Instead of paying everyone interest they have drawings for the payouts.  So for every big winner there are way more that got nothing.

 We know - just wondering if it's worth the gamble.

[Liverpool Lou]

17 minutes ago, BobBKK said:

 We know - just wondering if it's worth the gamble.

Only if you win, obviously...same as any lottery.  Statistically, none of them are worth the gamble.

[YayaManos]

This is for GSB account holders only, most account holders are Thais in government services!

[BobBKK]

2 hours ago, YayaManos said:

This is for GSB account holders only, most account holders are Thais in government services!

 
I know I opened a GSB account and have put a million in the lottery 2 year plan and was just wondering if anyone else had done it?  it's not for government workers, so I'm not sure where you got that idea from.

[BobBKK]

3 hours ago, Liverpool Lou said:

Only if you win, obviously...same as any lottery.  Statistically, none of them are worth the gamble.

 
I ask as I just invested and Thais tell me some put in the max 10m and do very well out of it - I am sceptical but am giving it a try.