Premium Bond Higher Prize Winner?

eskbanker

Exodi said:

Pathfinder000 said:

Someone on one of the Reddit subs thought that having £21k in PB was the point where you got a prize almost every month, but given the number of low level prizes, is it any more efficient than picking a mid level dividend ETF or stock that pays monthly?

22,000 to 1, so £22k to attain a 1 prize per draw average.

 https://www.nsandi.com/products/premium-bonds

In terms of the expectation of a prize 'almost every month', it's perhaps worth noting that a £22K holding actually only wins one or more prizes in eight months of each year on average, a 63% chance each month:

https://premiumbondsprizes.com/detailed#22000

Even a full £50K holding would be expected to have one blank month in every ten.

Middle_of_the_Road

Zanderman said:

Not sure I see the point of this poll because, as many have pointed out, there are far too many variables, primarily how many bonds people have (a few, or thousands?) and also how long they've had them (one year? 50 years?).  Without also tagging that information the poll gives nothing particularly useful.

Also of course forum members are not a cross-section of society, so any results here will merely reflect MSE forum members and to be fair, the poll states that, that it's just 'those on the forum'. But actually it won't even reflect those, but only those who visit the savings board.  Which won't be all, and indeed may be a minority as a lot are much more active elsewhere on the forum.

[For information I have one bond (i.e. one £1) bought many decades ago when I was born. Never won anything with it. Mrs Z-man has a lot more, but no big wins]

It was just a simple question. Have you won £1k or more? Does there need to be a point beyond that?

I wasn't expecting anything statistical to be garnered from any of the replies.
Moreover, I doubt anyone would consider buying bonds based on the replies here.

There's plenty of information on the other thread which relates to wins based on holdings, which I hope everyone understands is not relevant here.

I will though, add the disclaimer you suggested.

Murphybear

Never won £1k or more

london21 said:

Highest I have won is £200 in March when i started. I have £50k holding. 

I’ve got about £16k in Premium Bonds.

This year I’ve won something in each of 5 months out of 8 draws, totalling £400

The prizes are automatically reinvested so my “luck” is increasing slightly every month.  When winnings are reinvested they don’t go into the next draw, you don’t have to wait the usual whole month.  

I’m feeling lucky at the moment 😀

london21

Never won £1k or more

Murphybear said:

london21 said:

Highest I have won is £200 in March when i started. I have £50k holding. 

I’ve got about £16k in Premium Bonds.

This year I’ve won

February £25
May       £ 125
June      £25
July.       £100
August   £125

The prizes are automatically reinvested

I’m feeling lucky at the moment 😀

You are.

Max I have won now was £225 in June

Started in February

May and July got £0

In total I have gotten £575. Joined because I am a higher rate tax payer and the winnings are tax free and the flexibility to withdraw.

ShinyStarlight1

My friend won £25k.