41 year old premium bond should I cash it in and put it on the lottery?

gab1

I have one premium bond that I have had for 41 years and it has never won a penny.

My daughter suggested I cash it in and buy a lottery scratchcard.

The odds on winning the lottery are probably better than my one premium bond winning anything.

What do others think?

edinburgher

Well, according to the Premium Bond calculator on this site (look at the savings section for a guide), a Premium Bond holder with average luck and one Premium Bond should expect to win nothing over 10 years. I doubt that the extra 30 years adds much to your chances of winnings.

Option a) leave it where it is - who knows?
Option b) cash it in and buy your lottery ticket (probably take more time to do than £1 is worth)
Option c) like a flutter? Why not buy some more PBs? They only sell them in units of £100 and up (unless you're starting a regular purchase) these days!

Happychappy

Let me know, because I have £3 of premium bonds bought in 1958, but never won anything. also £2 from 1964, add to that the full amount I bought in 2007 which averages around 1.5% each year, a complete waste of money, but you gotta be init to winnit

edinburgher

Happychappy wrote: »

Let me know, because I have £3 of premium bonds bought in 1958, but never won anything. also £2 from 1964, add to that the full amount I bought in 2007 which averages around 1.5% each year, a complete waste of money, but you gotta be init to winnit

There are over £40 billion worth of PBs - why would you say they're a waste because you've not had any luck with your £5 holding? :rotfl: Do you throw stuff at the TV when you don't win the lottery week after week?

roddydogs

Ive got one from 1957.........wonder what its true worth is now, no its never won anthing

opinions4u

gab1 wrote: »

I have one premium bond that I have had for 41 years and it has never won a penny.

My daughter suggested I cash it in and buy a lottery scratchcard.

The odds on winning the lottery are probably better than my one premium bond winning anything.

What do others think?

Keep it.

It's not worth the hassle.

Cash it in before you next move house ... saves telling them your new address then.

gab1

saves telling them your new address then

that is why it was discovered, it is still registered (correct term)? to our old address.

And no, it hasn't won since we moved, we are still in touch with the new occupiers of our old home and they pass on any mail addressed to us.

Happychappy

edinburgher wrote: »

There are over £40 billion worth of PBs - why would you say they're a waste because you've not had any luck with your £5 holding? :rotfl: Do you throw stuff at the TV when you don't win the lottery week after week?

I base it on my return of 1.5% for £30,005 and this year to date 1x£25 since 1st January 2010, as an investment a waste of time, but as I said if you bothered to read before pmt kicked in, you gotta be innit to win it

edinburgher

I base it on my return of 1.5% for £30,005 and this year to date 1x£25 since 1st January 2010, as an investment a waste of time, but as I said if you bothered to read before pmt kicked in

Not really the same thing as saying 'before I bought the maximum permitted amount' or something of that ilk. The full amount you bought could have been any figure from £1-30,000

The rude comment I'll ignore, as I'll never be offended by someone who thinks that 'in it' is one word

Nosht

Keep it, frame it & hang it on your wall & it might be worth something to a collector one day as £1 or £5 bonds are no longer issued, (scarcity value).
There is always an outside chance of your number coming up.

N.

MyRubyRed

I'd keep it. Yes the odds of winning are against you ... but stranger things have happened!