Premium Bond Winner ?

atush

It just seems like new bonds win more- mainly because there are a lot more newer bonds than older ones.

But of course I won when the ink on mine was still wet ;-)

Sandblast

Notadamsmith wrote: »

Haven't a clue myself, Armchair23, but someone told me the original program was written in such a way as to favour bonds recently bought. Does anyone know anything about this?

That maybe true but remember the original program was written in 1956 so i would assume that since then it's had many revisions & updates.
Just gonna check now to see if i'm a high value winner this month. Report back later.

Notadamsmith

Sandblast wrote: »

That maybe true but remember the original program was written in 1956 so i would assume that since then it's had many revisions & updates.
Just gonna check now to see if i'm a high value winner this month. Report back later.

Hadn't thought of that, Sandblast, but I know nothing about programming. Good luck with July draw.

beedeedee

I was advised to cash some in and reinvest them every now and again - and although I don't always check whether it's older or newer bonds that have won - I do this and win very regularly. Only smallish amounts (not biggies), but better than nothing!

Armchair23

There will be mathematicians and statisticians groaning in disbelief.
But hey each to their own:rotfl:

Ifts

From NS&I website:

Myth 3: Only new Bonds win prizes
Each £1 Bond has an equal chance of winning, regardless of when or where it was bought. Bonds bought more recently may seem to win more often because there are more new Bonds than old – more Bonds have been sold in the last six years than in the previous 48 put together.

http://www.nsandi.com/savings-premium-bonds-history-ernie-and-premium-bonds

atush

The programe used is Random. I don't think it is possible to make a random selection program that has a bias for one type of unit (in this case newer bonds). If there is any bias, it isn't random.

The bias is made purely in the numerical statistics. There are far more newer bonds, than older ones. mainly because in recent years more have been bought, and because more of the older ones have been cashed in over the years. So more new bonds means prizes are more likely to be won by the newer bonds.

Notadamsmith

Are they up yet? How can I tell whether I haven't won or if they're just not yet on-line?

Sandblast

The high value prizes are up, but i think we'll have to wait until monday afternoon for the small prizes to be announced. Nothing for me - as yet.

Notadamsmith

Thanks, Sandblast. All the best to you for Monday.