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Premium bonds calculator

frosty77
Posts: 10 Forumite

Just messing around with the premium bonds calculator and put in expected returns if you had £50K in them over 5 years. The calculator gives a 45.6% chance of winning at least 1 million. So after holding for 5 years there is a just under 50:50 chance of winning more than 1 million. This doesn't seem right to me..... Any thoughts?



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Comments
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Yes, the calculator is broken, there was a similarly-titled thread about this a couple of weeks ago and the issue has apparently been reported:
https://forums.moneysavingexpert.com/discussion/6416798/premium-bond-calculator
A maximum holding has about a 1 in 100,000 chance of winning £1m in any given year.0 -
eskbanker said:Yes, the calculator is broken, there was a similarly-titled thread about this a couple of weeks ago and the issue has apparently been reported:
https://forums.moneysavingexpert.com/discussion/6416798/premium-bond-calculator
A maximum holding has about a 1 in 100,000 chance of winning £1m in any given year.0 -
Albermarle said:eskbanker said:Yes, the calculator is broken, there was a similarly-titled thread about this a couple of weeks ago and the issue has apparently been reported:
https://forums.moneysavingexpert.com/discussion/6416798/premium-bond-calculator
A maximum holding has about a 1 in 100,000 chance of winning £1m in any given year.0 -
A good reason to be cryonically preserved ; until you are awakened and somebody says "what the hell are premium bonds" ?0
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Not sure that would work either - they'll only include a deceased members bonds in the draw for 12 months after death - so you'd then get into the legal ramifications as to what exactly is defined as 'dead'.0
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