Premium Bond Winner ?

eskbanker

justwantedtosay said:

eskbanker said:

justwantedtosay said:

eskbanker said:

justwantedtosay said:

eskbanker said:

justwantedtosay said:

Do we know how the August prizes will be shared out yet? I'm guessing it must mean that there will be proportionally more smaller prizes and fewer blank months...?

Not sure why you'd expect proportionally more smaller prizes, but the split by value of the prize pot remains at 10/10/80% between high/medium/low prize bands (where low is £25/50/100).

The prize allocation page you referred to explains their methodology, which is driven by various hierarchical rules about subdividing the prize pot by value (which remains at the same 10/10/80% for their definition of high/medium/low) and then how they split them within each band, but, given the fixed number of £1m prizes, they clearly can't increase each of the other prize levels evenly by exactly the same percentage.

True, but I was only explaining why I thought the proportion of smaller prizes would have increased which you wrongly doubted.

Nothing wrong with my post, which related to the proportion of smaller prizes by value remaining constant!

Oh come on, you were responding to my post about numbers of prizes. Why not admit you got something wrong like I did when you pointed out my mistake?

You didn't specify what you meant by 'proportionally' - I commented on proportionality to prize fund value, but if you meant proportional to number of prizes then yes, there are more smaller ones in the new breakdown....

justwantedtosay

eskbanker said:

justwantedtosay said:

eskbanker said:

justwantedtosay said:

eskbanker said:

justwantedtosay said:

eskbanker said:

justwantedtosay said:

Do we know how the August prizes will be shared out yet? I'm guessing it must mean that there will be proportionally more smaller prizes and fewer blank months...?

Not sure why you'd expect proportionally more smaller prizes, but the split by value of the prize pot remains at 10/10/80% between high/medium/low prize bands (where low is £25/50/100).

The prize allocation page you referred to explains their methodology, which is driven by various hierarchical rules about subdividing the prize pot by value (which remains at the same 10/10/80% for their definition of high/medium/low) and then how they split them within each band, but, given the fixed number of £1m prizes, they clearly can't increase each of the other prize levels evenly by exactly the same percentage.

True, but I was only explaining why I thought the proportion of smaller prizes would have increased which you wrongly doubted.

Nothing wrong with my post, which related to the proportion of smaller prizes by value remaining constant!

Oh come on, you were responding to my post about numbers of prizes. Why not admit you got something wrong like I did when you pointed out my mistake?

You didn't specify what you meant by 'proportionally' - I commented on proportionality to prize fund value, but if you meant proportional to number of prizes then yes, there are more smaller ones in the new breakdown....

So glad you were able to find a straw to clutch at, but obviously by "proportionally more smaller prizes " I couldn't have meant anything other than more smaller prizes in proportion to other prizes. We know the way the three bands are set hasn't changed.

You appear to have missed this; And if you're arguing the toss about increasing each band by "exactly" the same amount, the chance of winning a mid range prize has gone up about 8-fold since early 2022 but that of winning a big prize is up 12-fold.So not exactly exact.

I can't be bothered with this any more!

pbcpdeveloper

borefest said:

it’s sad I know but when the 1st lands on a weekend it really irks me💷🍀

Especially when the Monday is a Bank Holiday.

Calidad

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

Does anyone have a similar holding? 

And if we put the money in this month, would be be eligible for August’s draw? 

Thanks.

2010

Calidad said:

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

Does anyone have a similar holding? 

And if we put the money in this month, would be be eligible for August’s draw? 

Thanks.

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

If you look at last month`s big winners none of them had the full holding, most of them had below £10k.

Basically, it`s pot luck.

eskbanker

justwantedtosay said:
You appear to have missed this; And if you're arguing the toss about increasing each band by "exactly" the same amount, the chance of winning a mid range prize has gone up about 8-fold since early 2022 but that of winning a big prize is up 12-fold.So not exactly exact.

Indeed - I hadn't spotted that you'd edited a post after I'd replied to it!  I think it's your turn to have missed the point being made, which related specifically to this latest announcement, in which the changes to the mix are insignificant, whereas obviously they've changed substantially (and deliberately) over a series of relatively major announcements over the last year and a half.  By volume rather than value, the medium band changes from 1.18% of prizes to 1.17% in this announcement, which doesn't seem particularly material to me....

Doctor_Who

Calidad said:

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

Does anyone have a similar holding? 

And if we put the money in this month, would be be eligible for August’s draw? 

Thanks.

No, they would go in the September draw, you need to hold them for a full month before they enter the draw.

https://www.moneysavingexpert.com/savings/premium-bonds/

Ifts

Calidad said:

And if we put the money in this month, would be be eligible for August’s draw? 

As Doctor_Who says in the last post, if you buy them in July, you have to hold them for a full month (August) before they are eligible for the prize draw in September.

So if you do buy some, do it towards the end of the month.

As a registered NS&I customer, when I have to buy some I do it on the last day of the month using my debit card - and you get a receipt with that date as 'date of investment'.

Nebulous2

Ifts said:

Calidad said:

And if we put the money in this month, would be be eligible for August’s draw? 

As Doctor_Who says in the last post, if you buy them in July, you have to hold them for a full month (August) before they are eligible for the prize draw in September.

So if you do buy some, do it towards the end of the month.

As a registered NS&I customer, when I have to buy some I do it on the last day of the month using my debit card - and you get a receipt with that date as 'date of investment'.

I haven't bought any for some time, but my recollection is that they tell you at the point of purchase which draw they will be eligible for. 

polymaff

Calidad said:

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

No, it is a gradual issue - and you'll regularly see relatively big wins on small holdings.

AIUI, the thing is that when you win two prizes, you actually had the odds pointing to, on average, 2.5 prizes - and that fraction is lost for ever. When you win five prizes you  suffer the same fractional loss - but it is a smaller loss relative to the win.

This is not just a quirk of Premium Bonds - but in most other savings products the average fractional loss is one halfpenny.

Imagine a world dealing with cash-only, no change given and a currency consisting of multiples of £25.