Premium bonds winnings

Padiman66

We have been fortunate to win £25k on the bonds and have the max in. My question is. Is it worth removing the £50k and then rebuying? Does this have any effect on the odds in winning as we have already done so? 

la531983

No, its random, in theory the same person could win the national lottery jackpot twice in a row.

eskbanker

Congratulations, but withdrawing and rebuying after a big win makes no difference to the odds, other than temporarily reducing them by missing a month's draw....

Mark_d

Congratulations on your win.  You've been lucky and no matter what you do, the chance of you winning a significant prize again is tiny.  Are premium bonds the right investment for you?  If you're not using your full ISA allowances maybe you could get a more reliable tax-free growth using ISAs.

FlorayG

I can never understand why people think having different numbers on their bonds will change their chances of winning. It's a completely random choice of numbers, your number may never come up or it may come up two months running. You may never win with £50k in and, like one man did a couple of years ago, you may win big with a single bond your mom bought when you were born. Your chances are improved by having MORE bonds, but the numbers on them are irrelevant

eskbanker

FlorayG said:

I can never understand why people think having different numbers on their bonds will change their chances of winning.

Your point is presumably rhetorical, but it's a combination of superstition/myth and a lack of understanding of statistics and probability!

Bravepants

Padiman66 said:

We have been fortunate to win £25k on the bonds and have the max in. My question is. Is it worth removing the £50k and then rebuying? Does this have any effect on the odds in winning as we have already done so? 

Congratulations very well done you!  

This is a completely unfounded myth about Premium Bonds. No point selling and rebuying.

Given that you have the maximum amount invested you should be receiving something close to the published equivalent annual interest rate of 4.4%. For you to have won the £25k many people (approximately 1000, I would say) would have received something less than the equivalent interest rate, or even zero this month, bearing in mind the minium prize is £25). Next month it might be your turn to receive less than the "interest rate", or even zero. And so it goes on. 

The odds of your winning £25k next mointh is the same as the odds of your winning £25k this month. This does not change if you sell all and re-buy; just that you will be out of the draw for at least a month, depending on when you re-buy them. 

Padiman66

Thanks for all the helpful comments. Good luck to all