I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair,
I think premium bonds are specific to the UK. It's an interesting concept, instead of earning a fixed interest as with the regular bonds, premium bonds do not earn interest but they enter a lottery instead. So the average expected winnings stand at a bit above 3% p.a. (not quite true for smaller investors as I posted above) but you also have a chance of winning big, with the top prize being £1 million.
Great alternative for playing Lotto, as you don't spend money on the tickets, but not so great as an investment,
Yes I agree with you. It is better to invest only £50 in bitcoins rather than reinvesting them in premium bonds. Because with this small amount of investment he won't be able to achieve much but if he wins a bigger prize then he can suddenly become rich from here. There are many chances to achieve big things because he has nice luck. If he invests them in Bitcoin then he can get maximum double profit in one year because now Bitcoin is in deep dip. But if he invests in bonds he can win millions of dollars if he is very lucky so it will be better for him.