Premium bonds, a case now for closing them?

RG2015

DoublePolaroid said:

What would Janeway do? (If she'd had her morning coffee; she'd probably attack a civilisation if she hadn't).

She’d award 7/9.

LeafGreen

Exodi said:

Also as a fun little titbit of information to depress people just before the weekend.

If you hold the maximum £50k in premium bonds, your odds of winning the million pound prize are 1 in 96,073 (just over once every 8000 years) - which means even if your ancestors invested £50k in premium bonds at the dawn of human civilisation and passed them down through the generations, you probably still wouldn't have won it yet.

Happy weekend all

EDIT: clarity

how did you get to that 1 in 96,073 figure?  I thought it was more like 1 in 1.1 million, but my maths can be terrible sometimes.

Martico

grahamgoo said:

Exodi said:

Also as a fun little titbit of information to depress people just before the weekend.

If you hold the maximum £50k in premium bonds, your odds of winning the million pound prize are 1 in 96,073 (just over once every 8000 years) - which means even if your ancestors invested £50k in premium bonds at the dawn of human civilisation and passed them down through the generations, you probably still wouldn't have won it yet.

Happy weekend all

EDIT: clarity

how did you get to that 1 in 96,073 figure?  I thought it was more like 1 in 1.1 million, but my maths can be terrible sometimes.

I think that's the odds of winning in a year - your number is the odds in a month

Exodi

grahamgoo said:

how did you get to that 1 in 96,073 figure?  I thought it was more like 1 in 1.1 million, but my maths can be terrible sometimes.

Martico said:

I think that's the odds of winning in a year - your number is the odds in a month

Your maths isn't terrible, mine is, you're both completely right.

Your correct, the annual premium bond chance with a max 50k holding is 1 in 96,073. Monthly premium bond chance with a max 50k holding is 1 in 1,181,644. Edited my original comment now.

Absolutely incomprehensible odds.

Millyonare

Someone on average who bought £50k of PBs in 2012 would now have something like £60k.

Someone on average who bought £50k of a Nasdaq tracker fund in 2012 would now have something like £400,000.

Rough numbers. But you get the idea.