Premium Bonds…..why, oh why…

Last year I won £925 in total,nothing higher than £25.This year only £250 all in £25's.If nothing next month I intend cashing them all in and buying new ones.I will only miss one month's draw.I hold the maximum.
The million pound agent rings or visits you on the last day of the month if you are that lucky.
I worked there for nine years after leaving school and thoroughly enjoyed it .
Good luck to all GN 's.

Well, obviously some posters are getting my share ?

Still no email!

Chestnut. We too have an old £1 bond from DHs childhood. But it has never won.

I look each month and, on line, they give the date purchased for each win. I have noticed that it is very rare that a bond purchased before the year 2000 ever wins.

My 4 children have under £10 in bonds each. All were bought when they were 5 or so. The youngest is now 50 plus and I wouldn’t know if they have ever won. Never looked. The youngest knows about the bonds, long lost!, and will check after I’m dead. I’ve a neighbour with £20k of bonds and he has nearly £9k of winnings over 10yrs.

My grandmother bought £50 of bonds for my son in the 1970s - he won £50 in 1980 and then £100 in 2016. Not a bad return on £50. But it is just luck and he still only has the original £50 of bonds.

There are far fewer of the older bonds still in the draw as people cash them in. When you die then your heirs can keep them for a year but then have to cash them in. Loads of the original purchasers will probably have died by now reducing the amount of them in the draw. I still have the £1 bond my Nan bought me in 1958, it was worth far more than £1 today.

Dee1012

I found it strange that when I had a small direct debit in place and purchased bonds every month, I pretty much won every month...never a large amount.
Since cancelling the payment, I've rarely won!

Yes similar here, I think it’s a fiddle that new purchases win to keep you hooked and putting in more. I have won not a bean in the last 5 years!!!

I save monthly for mine, and get a far better return than saving in my isa - I do dream that Ernie will knock on my door one day!

Got £25 win too - informed by email.

Sounds better than my record of not winning anything.

I won £25 in July 2020. The last time I won before that was in 1970!

I've had bonds since 1963 and not won a penny

My gran bought me premium bonds in the 1950's . I have £4 's worth. I won once c 1967, I think it was £10. Time to cash out!

My gran bought me premium bonds in the 1950's . I have £4 's worth. I won once c 1967, I think it was £10. Time to cash out!

I expect your comment was tongue in cheek, Germanshepherdsmum. I don’t suppose anyone buys a Premium Bond hoping they won’t win £1000,000!
My £50 bought as presents when I was a child in the 50s has never one. I was surprised to see what large numbers of bonds some people hold, no wonder they win more

You're doing better than me. I've had 5 bonds for nearly 50 years and never won a penny.

Shinamae

I bought £350 worth of premium bonds about a year ago but have never checked because I thought you were contacted if you won, is that not right?

They only contact you when you win the million. They used to have a ‘Mr Millionaire’ come to your house, but I think that may of changed now due to covid.

The app is available to download and it is easy to use once you have registered. This will tell you how much you have won that month.

Also, they will send you an email around the end of the first week of a new month to let you know.

Then, if you’re lucky, have the money transferred to your bank account or wait for a cheque or even have the winnings turned into more bonds (if you have less than 50,000 invested, that is).

There isn't a draw - they don't have employee of the month sticking a hand into a revolving drum. It was explained to me that the clue is in the title that was used years ago - 'Ernie' bonds; its 'Electric random number indictor equipment'. The 'Ernie' machine, or whatever it is called now, generates numbers that are then matched to holder's bonds. So it's just as likely to create an old number as a new one. Or so I was told. I do remember a lot of unnecessary rubbish at times!

I've only got two from 1965 never won anything. An acquaintance of mine bought 20,000 worth instead of putting it in an ISA and she says she wins something almost every month.

We have had Premium Bonds since 2011 and average about £100 in winnings every year. The big attraction for us is the knowledge that the money is 'backed by the Treasury' so is arguably safer in bonds than the bank. We are now simply reinvesting our winnings and may set up a direct debit as well to see if that improves our chances......

Not very nice germanshepherdsmum!. I think the OP hadn't grasped the fact there are very few £1m prizes and loads of £25 ones and an explanation of this would suffice.

The reason I said it was that she seemed to be doing quite well!

Recently I read how remote your chances are of winning, I believe it went into thousands to one even of the lower prizes so really they are a waste of time. Just the government keeping your money and giving nothing in return!

I won £125 this month and my husband won £25.