NS&I Premium Bonds Alternatives?

subjecttocontract

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

* But you will have TWO chances of winning a million every month.
* 5.9 million prizes won in March.
* £430 million pounds prize pot for March.

Don't forget......it's a bit of fun.

slinger2

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

Actually it's worse than that. There are about 120 billion PBs in issue. Assume that someone has 50,000 PBs and holds them for a year. The chance of winning a million pound prize is then (roughly) 1 in 120 billion/50,000/12/2 = 1 in 100,000. So you'll win a million pound prize every 100,000 years or so.

poppystar

……And yet two people beat the odds every month🙂

slinger2

poppystar said:

……And yet two people beat the odds every month🙂

It's true. 2 PBs win every month. However 120,000,000,000 PBs don't win.

Albermarle

slinger2 said:

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

Actually it's worse than that. There are about 120 billion PBs in issue. Assume that someone has 50,000 PBs and holds them for a year. The chance of winning a million pound prize is then (roughly) 1 in 120 billion/50,000/12/2 = 1 in 100,000. So you'll win a million pound prize every 100,000 years or so.

Yes, I think you are about right.

Which say that with a full holding the chance of winning a Million Pounds in any one month is 1 in 1.29 Million.
So divided by 12 , means it will happen on average about once every 100,000 years.

…And yet two people beat the odds every month🙂

I remember another thread where someone  said as there were supposedly two winners every month, how come neither he or any of his friends and family had never met one, so it was a scam. 

However of course statistically speaking in  a population of 65 Million, it is very unlikely you would know anybody who had won a Million, especially as many would be reluctant to make it public anyway.  

poppystar

slinger2 said:

poppystar said:

……And yet two people beat the odds every month🙂

It's true. 2 PBs win every month. However 120,000,000,000 PBs don't win.

Chance of winning with bonds is still greater than without where it is definitely 0! No one with no bonds will win, two people who have bonds will win. 

HedgehogRulez

Pensions is the right answer