Prize-Linked Savings
Consumer Demand for Prize-Linked Savings: A Preliminary Analysis
This paper reports on a small-scale survey of the potential American demand for prize-linked savings accounts, an account that awards prizes as part of the saving product’s return. In October 2006, Centra Credit Union launched a prize-linked savings pilot. As part of that initiative, we conducted a mall intercept survey of over 500 people in Clarksville, Indiana, the community where the program was launched.
Prize-Based Savings: Product Innovation to Make Saving Fun
What if winning prizes while saving money could transform saving into something exciting?
Saving whilst Gambling: An Empirical Analysis of U.K. Premium Bonds
For over three centuries and across the globe, lottery-linked savings (LLS) programs have offered individuals the opportunity to save, and in lieu of paying traditional interest, have given savers periodic chances to win money or prizes. Despite their long history, LLS programs are relatively unstudied by scholars.1 In this paper, I detail a LLS program that the U.K. government has continuously offered since 1956, the U.K. Premium Bond (PB) program. PBs guarantee holders risk-free return of nominal principal.