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AIBU

Premium Bond prizes

(44 Posts)
apricot Mon 24-Nov-14 19:07:57

AIBU to suspect that Premium Bonds are completely crooked?
Last year I got 5 small prizes, this year I've had 1. Same number of bonds held, worse recession.
Each time I've bought more bonds I've immediately won a prize. They're touting for business.
When paying in a prize cheque, the cashier said, "We've had loads of these this month", so do they target one area at a time?
Giving two £1million prizes each month since August has decreased the number of smaller prizes. They deny this but it must be true.
What's David Cameron doing with my money? Buying arms? Giving it to his banker chums? Privitising the NHS?

KatyK Tue 25-Nov-14 12:24:39

I have mine in large blocks but still just get the odd £25-75. I have just remembered that many years ago before I bought my bonds, my DH had about £200 worth and one month he won £1000. Since we have had a lot more, not much luck.

Maggiemaybe Tue 25-Nov-14 19:10:27

I've had over 4% return on mine so far this year, which is a good result in the present climate. I'd rather have a bit of a (safe) gamble than the certainty of knowing I'd get 1.5% from a savings account. Of course I anticipate winning one of the million pound prizes in next week's draw. smile

Basic details of the big winners - number of bonds held, area they live in - are on the National Savings website. In November one of the £1m prizes was won by someone in Leeds, who had just bought their £10,000 worth in September. So this would be the first draw those bonds had gone into.

rosequartz Tue 25-Nov-14 19:24:37

I suppose if the numbers are being picked randomly by computer then there is more chance of it picking one of your numbers out of a large block than one of your numbers out of several randomly scattered blocks.

J52 Tue 25-Nov-14 19:33:58

Regularly get basic prize, it was £50, now £25, but I have had two together one month. Still works out more than interest from the bank. I live in hope of a biggie! X

rosequartz Tue 25-Nov-14 19:37:21

That's it, J52, the occasional £25 keeps reminding you that your numbers are still in the system somewhere, along with the hope that the person from the Premium Bonds will come knocking on the door with a cheque for a million on the 1st of the month!
Good psychology!
Although £100,000 would do me quite nicely.

apricot Tue 25-Nov-14 19:51:08

I know what the odds of winning are and for the past 5 years I always had about 5 small wins each year, which was better than having my money in the bank.
Maybe having only won £25 this year means I'm going to get £1 million next month. Or maybe not...

rosequartz Tue 25-Nov-14 19:54:09

I was going to say that it's my turn next month, but there are two £1 million each month now apricot, so it's going to be both of us .... grin

Maggiemaybe Thu 27-Nov-14 10:31:34

Oi, I claimed it first, rosequartz! grin

jinglbellsfrocks Thu 27-Nov-14 11:50:40

I'm sure newer bonds win more often than older ones.

POGS Thu 27-Nov-14 11:57:09

apricot

I have to ask after reading your last post, I don't exactly understand your OP.

Were you seriously linking Premium Bonds to some sort of government fraud. confused

Riverwalk Thu 27-Nov-14 12:16:27

I'm sure newer bonds win more often than older ones

Statistically there could be something in that claim jings ..... the major prize winners are invariably those who have big/maximum holdings and decades ago no-one was able to have £30,000 worth.

Any statisticians feel free to correct!

Elegran Thu 27-Nov-14 12:28:43

I am no statistician, but if you have a lot of bonds, you are more likely to get a prize of any sort than someone with only a few, so more likely to get a big prize too. Early bond buyers couldn't buy big blocks, as people do now when they use them as an investment.

harrigran Thu 27-Nov-14 18:00:31

I have just upped my PBs to the new maximum so I am hoping that will prod Ernie into picking a million for me grin

apricot Thu 27-Nov-14 18:01:17

POGS, not a fraud. I just feel the winnings are skewed.

rosequartz Thu 27-Nov-14 18:11:01

The Gospel according to Matthew 13:12

rockgran Thu 27-Nov-14 18:29:39

I'm thinking of buying some more! There's no advantage in having a block of numbers, just having a lot! Each bond has a separate and random chance (that's what "ERNIE" means) but the more bonds you have the more chances you get. At least f you cash any in you won't have to suffer seeing that number come up - unlike stopping the lottery.

Maggiemaybe Fri 28-Nov-14 10:42:33

That's a good point, rockgran!

durhamjen Fri 28-Nov-14 15:48:15

That's what they say, rockgran, but I do not think it is true.
If you look at their website, they give a list of the large winners. If you have nothing better to do, you can order the list in area, amount held, amount of the bond, date bought, etc.
It's so obvious that large blocks win most.
Twice we won £1000, but that was when we had the maximum, after we had sold a house or a business and put the money into bonds. One year we got over 7% return, but again that was when we had a large block.
Most of the prizes go to bonds bought since 2000 as well, so if you are cashing any in, cash the older ones first.
My brother-in-law's father was an investment banker for TSB, and he used to get all the spare cash from all family members to buy blocks, any winnings to be shared out at the end of the year depending on the amount of your share.