Premium Bonds Article Discussion Area

sale_of_the_century

I trying the stoozing idea with my 
Sainsbury’s credit cards 20+ month interest free credit.

With savings rates so low I am giving Premium bonds a go.

Basically I am using the card to purchase the monthly shopping and other household expenditure ( around £600 a month ) and only paying the minimum payment and putting the rest into premium bonds every month. 

If I win only £50 in the next year and a half it would of been worth it .
And maybe I could hit a biggie !!
then cash in and payoff the card at the end .
Fingers crossed ! 

I will keep you posted.

polymaff

I think that the forum you are mistaking MSE for is Gamblers' Anonymous ...

sale_of_the_century

polymaff said:

I think that the forum you are mistaking MSE for is Gamblers' Anonymous ...

Haha 😂 
nice one .

London7766551

Got 13k in these bonds for a few months now have not won a penny!

WaywardDriver

London7766551 said:

Got 13k in these bonds for a few months now have not won a penny!

If "few" = 2, 3 or 4 then chances of no wins are approx 1 in 3, 1 in 5 and 1 in 8 resp. Average luck gives 6 wins per year. Unfortunately 0 wins in the first 4 months say doesn't mean you'd expect 6 in the next 8.

AnotherJoe

Swipe said:

MACKEM99 said:

If I buy some this month I am aware they will be entered into the August draw.  I have an NS&I Account.  How late in the month can I buy them?

Thanks.

When I asked them, they told me any ordered on the last day of the month will go into the draw for the following month (skipping a calendar month of course).

True but there always (especially in these times) the chances of delay. 

Given the utterly trivial amount of interest you'd lose for one day even on the maximum amount, why take a chance and leave it to the very last day? 

easterbunni

London7766551 said:

Got 13k in these bonds for a few months now have not won a penny!

Got 10k in these bonds for a few months now have won a few quid!

Sea_Shell

What will happen with PBs as more and more people pile into them?

Will the chance of winning reduce, or will the prize fund just continue to be a percentage of the bonds held?

Would they stop selling them?

polymaff

Questions that have surely gone through contributors minds already. Let's not get too bogged down in speculation.

Unless someone has the "inside" tip. ...

eskbanker

Sea_Shell said:

What will happen with PBs as more and more people pile into them?

Will the chance of winning reduce, or will the prize fund just continue to be a percentage of the bonds held?

As per https://www.nsandi.com/ernie#chances-of-winning

Myth: The more Bonds sold, the smaller my chances of winning

Not at all. The prize fund for each draw is a month's interest on all eligible Bonds in the draw, so the more Bonds we sell, the bigger the prize fund.