Was it worth buying a Premium Bond?

Rooting through my files I found my £1 Premium Bond. Bought in the late 1960's when I was child. I remember my mum looking proud when she got it for me. She thought it would be an 'investment' and encourage me to save. But today I wondered if it would have better to have just spent the money back then. I loved going to the pictures but this was a rare treat so the £1 would have made a difference back then.
Anybody else got Premium Bonds from their childhood. What might you have done instead with the money? I would love to hear of anyone won a prize and how it affected them!