Premium Bond Winner ?

lr1277

£25 on a 32k holding.

waveydavey48

My first post here. In my first draw I won £25 on £50k worth. My logic (in the unlikely event anyone's interested) is that if I win £25 in each draw (big if I know) that is £300 pa. If I put £50k in the bank earning, say £0.7% interest that is £350. I am investing in premium bonds and no longer paying £2 a week on the lottery so it feels like I am no worse off with premium bonds instead of the lottery. A smaller potential prize of course but £1m would do for me, so fingers crossed.  

eskbanker

waveydavey48 said:

My logic (in the unlikely event anyone's interested) is that if I win £25 in each draw (big if I know) that is £300 pa. If I put £50k in the bank earning, say £0.7% interest that is £350.

The two flaws in that logic are:

1. The expected return from a £50K PB holding is effectively alternating £50 months with £25 months on average, so you should gravitate towards £450 per year over time.
2. Where would you earn 0.7% interest on £50K in a comparably easy access bank/savings account?

FirstTimeSolo

£43k holding since Dec
Feb - £25
Mar - £25

newatc

£50 on £50k, wife £50 on £40k. Since this type of holding (last 9 months) had between us either £50 or £75 each month so with £100 this month, things are looking up

DairyQueen

Cashed in my entire (max) PB holding before this month's draw. OH's max holding produced 0 - his first month without a win. Typical.

wiseonesomeofthetime

eskbanker said:

waveydavey48 said:

My logic (in the unlikely event anyone's interested) is that if I win £25 in each draw (big if I know) that is £300 pa. If I put £50k in the bank earning, say £0.7% interest that is £350.

The two flaws in that logic are:

1. The expected return from a £50K PB holding is effectively alternating £50 months with £25 months on average, so you should gravitate towards £450 per year over time.
2. Where would you earn 0.7% interest on £50K in a comparably easy access bank/savings account?

If lucky enough, legacy Skipton Online Saver at 1.20%, for now, then 0.65% until Sep 2021.

After that 😱

I have a chunk of money in this account that is reserved to top up my holding to £50k. Debating whether to leave it there until Sep, at 0.65%, or add to holding and see if achieve decent luck on PBs. Currently averaging £25pm on £33k. 🤔

josh33

Good luck to all holders for April's draw!

onthebench

josh33 said:

Good luck to all holders for April's draw!

A bit longer to wait this month, with the Easter holidays - the prize checker says results aren't available until April 6!
I've topped up a bit this month as I had a one-year savings account mature, but the additional bonds won't be in the draw until May, so I won't be holding my breath with my small current holding.

ljayljay

onthebench said:A bit longer to wait this month, with the Easter holidays - the prize checker says results aren't available until April 6!

According to this 2 April

https://www.nsandi.com/prize-checker