Premium Bonds…..why, oh why…

No, because they draw out a lot of numbers and the first valid one out gets the million pounds then when it gets down through various values of prize to the £25 prizes there are a lot more of them. So if your Premium Bond gets drawn then there is a much greater chance that it will be for a £25 prize than for a million pound prize.

Here are the details.

www.nsandi.com/get-to-know-us/monthly-prize-allocation

For every £1 bond you have you have a one in 34,000 chance of winning £25.

A one in 56 billion of winning a million.

I looked it up but I can’t do the Maths to calculate the odds if you have say a thousand in bonds.

Sorry crossed posts peasblossom and muse

katey
In October there were 2 prizes of £1million, and over 3 million prizes of £25.

www.nsandi.com/get-to-know-us/monthly-prize-allocation

So the odds of your winning a big prize are quite different from the odds of winning a small one.

Count yourself lucky. I have never won anything with my £10 worth of premium bonds, and prefer to invest in ISAs where the return may be less, but is rather more predictable.

Depends on how much you have invested in them. What you've won for the past few months is very good. They have cut back on the prize money.

22 million people have premium bonds and they give out 2 lots of £1,000,000 a month ! Last month they gave out 3,231,893 lots of £25.

But there are lots of £25 prizes and only one 1,000,000.
So the odds must be vastly different.

That sounds incredibly greedy to me.