Premium Bond Winner ?

Lea37

Crabman wrote:

Darn, now my conspiracy theory has been proven wrong

Ok, how about, only people with an A in their surname win prizes?? :rotfl:

Oooh! I have an A in my surname!......................but fella doesn't and it was his bond that won, sorry!

Lea37

baldbloke wrote:

Can you have prizes credited directly in to a bank account?

When I last held PBs you either reinvested the winnings - up to the £30k max - or you had to hope the postal service never lost one of the warrants that NS&I send every time. The thought of having multiple prizes from the full
£30k investment rattling around in the postal service month after month is a bit worrying and doesn't fill me with confidence.

My fella won £100,000 this month and the letter came by recorded delivery so I assume most higher band prizes do.

He then had to send his winning bond to them (which he did by recorded delivery to be safe) and he chose to reinvest up to the maximum holding and have the rest put straight into his bank account.

He posted it on the friday, they received it on the monday and his account was credited on the tuesday. No hassle whatsoever.

You can always check online to see if you've won each month and query it if nothing arrives.

The £50 prizes he's won before have always come around the middle of the month in the form of cheques.

Lois_Lane

halloweenqueen wrote:

Good for you - I invested another whole £100 yesterday!! I think you need to have at least £5000 before you get anywhere by the looks of the big winners but you've got to be in it to have any chance so keeping my fingers crossed. Well done!

I've got just over £5k worth and haven't had a win since August 2003 :mad:

LL

halloweenqueen_2

Oh well, maybe it will be you in June - good luck!
Got all excited then about winning and having an A in your surname - was going to change my surname to banana!

meanmachine_2

Again, you need at least 24,000 for it to be worthwhile (statistically).

You're confusing size of bond (the max being 5K) with total holding.

A disproportionate number of winners have the maximum holding of 30K.

Lois_Lane

meanmachine wrote:

Again, you need at least 24,000 for it to be worthwhile (statistically).

You're confusing size of bond (the max being 5K) with total holding.

Not sure if I understand this - surely if you have £5k worth of bonds, you have 5,000 numbers going into the draw each time...?

LL

baldbloke_2

meanmachine wrote:

Again, you need at least 24,000 for it to be worthwhile (statistically).

You're confusing size of bond (the max being 5K) with total holding.

A disproportionate number of winners have the maximum holding of 30K.

The fact is that a person with £30k has 30000 chances of winning each month while a person with say £1k has only 1000 chances of winning each time.
If there are 100 tickets in a lottery and I buy 10 of them then I shall have - and would rightly expect to have - a disproportionate chance of winning.
Each Bond may be of equal value and have equal chance of winning but each person's holding does not.

Size does matter.

meanmachine_2

Lois_Lane wrote:

Not sure if I understand this - surely if you have £5k worth of bonds, you have 5,000 numbers going into the draw each time...?

LL

It depends what your aim is with premium bonds.

I see them as a tax free alternative to saving in a high interest account.

To be fairly sure of a win each month (the odds against which are 24,000-1) you need 24K invested.

If you're bunging in 5K in the hope of winning big, that's OK, but in which case write that money off because the chances are it won't keep up with inflation.

halloweenqueen_2

The size of the bond was £1 as I thought, just the total holding you have may differ, but each bond itself is a £1 and theoretically (sp?) has as much chance as winning as each other. Obviously the more you have the more likely you are to get something.

tomstickland

National savings quote an average return of 3% for premium bonds. A high interest savings account is better. Unless you enjoy the chance aspect, but if at any time you're ahead of the 3% then you are more likely to have a void period to get you back down to the 3% average.