Premium Bonds introduce 2nd £1m Prize!

Aark

Just out of interest, if some people believe that consecutive Premium Bonds have a greater probability of winning, does it follow that they believe that consecutive lottery numbers (i.e. 1,2,3,4,5,6) have a greater probability of winning the jackpot?

deemy2004

I used to have the full wack £30k in premium bonds but won little in the way of prizes maybe around 2% return

So took most of it out and have £4k left.

Yeh if you have filled up your other vehicles including some £80k that can go into a non working spouses name for gross interest than do put a small amount in premium bonds.

Personally I would prefer more smaller prizes - maybe even a £10 prize ! So have a better chance of winning anything !

Moorepart

Oerrr!!! what's the scandal?
I have max in and have won quite a few times now .biggest was £500 yrs ago.But I am suspicious too.I've noticed most of the winners are comparatively new holdings.The longer I have have them the less I win,so am thinking of throwing the lot in and getting new ones.What you think on that

CrazyChemist_2

You have nothing to lose (except possibly one months winnings!) but you'd be guaranteeing yourself that you've got some newer bond numbers.

They say it's checked by a "government actuary" monthly but we never see any proof of this - they don't even put the report on the website. I'm not too happy with them but may as well leave my holdings in till end of month for next month's draw...

Moorepart

I know there's a darn great scandal going on with ERNIE ........if every bond has an equal chance and the draw is truly random we should have won over and over again I simply cant see if ERNIE is truly random why so many people simply never win at all while others win more than the suggested norm

NS&I confirmed this themselves to me on several occasions

1) they accept that a huge number of people never ever win no matter how long they hold bonds

2) they have couples with £30K holdings .....one partner wins the other never does

3) they get 100s of calls a day from people who have had £30K holdings for over 2.5 years who have never won at all

Theres also some areas of the country that never win either

I challenge anyone to prove to me this is all purely random

Its a FIX from that weazel Gordon Brown lining his own pocket no doubt

p3gg

lazy_worker wrote:

I would hazard a guess that a person with 30000 single bonds spread out equally throughout the whole range of available numbers would have nowhere near as much "luck" as a person with 30000 consecutive numbers.

How on earth do you make that out?

trademark

i think its very unlikely that a 30k holder would win nothing for 2 1/2 years ........ youve got to have incredibly poor luck to achieve a 0% return

that said i had the 20k old max holding for 11 months and didnt win a penny , but as i was building up to that holding i couldnt stop winning (500's and 50's) sometimes 3 prizes a month

my nan was the same lots of prizes then nothing as the bonds became older

im now investing 1,000 per month into bonds and aim to achieve 30,000 in 2 years or so .... im happy that the second 1m prize has been introduced but the 30k limit is what , a year old now ..... couldnt they have introduced this prize months ago ...bit greedy that , i would also like to see the second million broken down into say 5k prizes ......

5k is a cruise , with a small chance of winning it , 1 million is retirement with virtually no chance of winning it .

incidentally any maths experts care to work out the chances of winning both 1 m prizes in the same month .

Aark

I've noticed most of the winners are comparatively new holdings.

I think that is just because a considerable proportion of bonds were bought comparatively recently.

From http://news.bbc.co.uk/1/hi/business/4099556.stm:

"Customers have invested more money in Premium Bonds over the past six years than in the previous 42 years put together, NS&I said."

deemy2004

Next months top prize is mine !

Ive Fixed it !

Moorepart

deemy2004 wrote:

Next months top prize is mine !

Ive Fixed it !

You have the first mill and i second