LOTTERY BOND
- A government bond issued by the National Savings and Investment (NS&I) in the United Kingdom, which gives the holder a chance to win a tax-free cash prize in its raffle draw every month. These bonds do not pay interest but encourage saving. However, these are not guarded from inflation because it does not have an interest rate. Nevertheless, these are extremely safe because the bonds are backed by the UK government. It can be bought directly from NS&I or from the post office. Every bond costs £1 and should have a £100 minimum investment.
- A commercial surety bond that firms with lottery machines must buy to avoid abuse of the state lottery system.
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