Premium Bonds, can someone explain them to me please?

Sillychuckie

I had 2k worth of bonds for 4 years and never won anything.
Eventually cashed em in and used the 2k as part of an annual ISA contribution.

Doubt i'll be using them again. I figure that with all this recent advertising, the odds of me winning is even less than it was, with more numbers they draw against.
If I didnt win when I had them years ago, I dont hold out much hope for the future.

pkrnts

Sillychuckie wrote:

I had 2k worth of bonds for 4 years and never won anything.
Eventually cashed em in and used the 2k as part of an annual ISA contribution.

Doubt i'll be using them again. I figure that with all this recent advertising, the odds of me winning is even less than it was, with more numbers they draw against.
If I didnt win when I had them years ago, I dont hold out much hope for the future.

As more people buy bonds the more prizes become available so the odds of winning a prize stay exactly the same every month (1 in 24,000)

skiddy2k

pkrnts wrote:

As more people buy bonds the more prizes become available so the odds of winning a prize stay exactly the same every month (1 in 24,000)

realy? i was thinking about this because a few months ago i saw some NS&I adverts on TV and thought... "ahhh crap, there goes my potential winnings".. seriously angry because i recently brought some.
i got £300 in bonds... probabily not going to get anything (nothing so far), but waiting for the begining of each month and checking if i won anything's part of the fun!... and its still possible to win the £1million!.. not loosing out too much either... only intrest... (300*0.045 = £13.50 per year)