premium bond winners

Phaelok

Hi everyone,

I have only just started putting some money into premium bonds. It is better to purchase a set amount every month and having lots of different bond numbers or buying a lot outright to increase the chances of winning?

I appreciate the odds of winning are very low, however it would be interesting to see if those who have won bought a lot from the outset.

Thanks

lpgm

Lots of people here have won prizes. Some will have bought their bonds in a single block; others will have built their holding up over time. It makes no difference to your chances of winning. Whether or not one of your bonds wins a prize isn't affected by whether or not you also own the bond before or the bond after.

CLAPTON

Phaelok wrote: »

Hi everyone,

I have only just started putting some money into premium bonds. It is better to purchase a set amount every month and having lots of different bond numbers or buying a lot outright to increase the chances of winning?

I appreciate the odds of winning are very low, however it would be interesting to see if those who have won bought a lot from the outset.

Thanks

the probability of winning is exactly the same for each ticket

therefore, the more you have the greater the chance of winning

so yes, the more you have for the longest time would mean, on average, you will win more prizes.

ariba10

When they introduce the second monthly one million pound prize shortly, that will lengthen the odds against winning a prize.

Fiveboy

I've been building my premium bonds since nov 2012 and now reached the current 30k limit. I've not done very well, its a gamble below shows my amounts and which bonds have won, in total i have won £200.

NOV 2012 2,000.00 GBP
NOV 2012 1,000.00 GBP £25 win
DEC 2012 3,000.00 GBP £25 win
JAN 2013 1,000.00 GBP £25 win
FEB 2013 1,000.00 GBP £25 win
APR 2013 9,000.00 GBP £25 win x4
JUL 2013 1,000.00 GBP
AUG 2013 2,000.00 GBP
OCT 2013 1,000.00 GBP
FEB 2014 4,000.00 GBP
MAR 2014 500.00 GBP
APR 2014 100.00 GBP
APR 2014 900.00 GBP
MAY 2014 1,000.00 GBP
JUN 2014 2,000.00 GBP
JUL 2014 500.00 GBP

This does not mean you have the same poor luck as me or do better than me it's just random.

pittspitch

I agree each bond has an equal chance of winning. My experience with 30k bought as 2 lots of £5k and one lot of £20k is that more wins have come from the £20k pot and more than a 1 to 4 ratio. I would add I am still getting a better % return from Santander 123 than premium bonds. An old friend of my father always cashed his bonds in every 3 years and never bought small blocks, he swore he got good results. He must have been just lucky.

dale_cotterill

Think I had a grand total of £440 at one stage. Apparently my Grandma has put 340 in when about 25 years ago, stopped when they stopped allowing £10 payments and for reasons now totally unknown I put in £100 when I was 16 or 17.

Won 2x £25, in total, both in the same year (2012) I think.

Pulled them out just before Christmas and bought a new TV, which I've certainly got more enjoyment out of!

Mathematically, I really don't see the point in Premium Bonds. Seems far more of a highly expensive lottery ticket than any form of planning savings.