Maximum Premium Bonds held...chances?

The_stingemeister

Whenever the chance of a big win on the Premium Bonds is discussed its always about the odds if you own ONE bond. You can't even own just one bond, isn't £25? I sometimes wonder if its the Banks putting this around, so they can put investors off by the ultra slim chances, and invest in them instead. So what are the odds for a big win if you hold the maximum of £50,000? I've never seen this answered. I know the typical amounts earned on a monthly basis, with the max: one month £25, next month £75, next month £0, next month £50 etc. 

Ken68

1.2% probably, though all down to luck. Since maxing early last year my  p.a. earnings were 1.65%. A couple of £100+ wins helped.

glider3560

According to https://www.moneysavingexpert.com/savings/premium-bonds-calculator/, if you hold £50,000 in Premium Bonds,  there is a 1 in 862,438 chance of winning £1m each month.

Rodders53

The_stingemeister said:You can't even own just one bond, 

Yes you can if you've held them long enough.
SWMBO has one dated 3 SP 65 (I think the PO stamp is smudgy on the year).
I bought 5 back on 30 DEC 69 with some Christmas present money.

None of them have ever won a penny, though.

clive0510

I have money in premium bonds. about 20,000. and I also pay into it each month. i do get the odd winner and once won 1,000.i dont do the lottery so treat this as my lottery. the bonus is you dont lose your capital.

The_stingemeister

glider3560 said:

According to https://www.moneysavingexpert.com/savings/premium-bonds-calculator/, if you hold £50,000 in Premium Bonds,  there is a 1 in 862,438 chance of winning £1m each month.

Thanks, but dissapointing the odds are so big.

Albermarle

Ken68 said:

1.2% probably, though all down to luck. Since maxing early last year my  p.a. earnings were 1.65%. A couple of £100+ wins helped.

The current rate is 1.4% but in reality it is approx. 1.2% + an infinitesimally small chance of winning a million .
At the moment, the prize rate for Premium Bonds is 1.4% – so each £1 bond has a 1 in 24,500 chance of winning any prize. 
So if you had £50k  you should on average win two prizes a month ( mainly £25 ones of course)

MovingForwards

clive0510 said:

I have money in premium bonds. 


I dont do the lottery so treat this as my lottery. the bonus is you dont lose your capital.

Same as me, I prefer to buy my PBs and have an unlikely chance of winning, than spend my quids (or whatever it is now) on an even bigger unlikely chance of winning.