Premium Bond Winner ?

jaceyboy

abgrad said:

If I don’t get like £300 in this months draw I think I’m going to have to get some money out!

I’ve got £50k in and have been getting less than £100 a month for a few months, sometimes nothing though some of these months I had £30 something k in so not full amount. But I see other people on here say for example that they only got £50 last month and they have been getting in the £200s for months and they don’t have the full amount in and that makes me feel a bit rubbish. I know I should have money in an ISA and am falling victim to the luck aspect of premium bonds. 

I don’t have any money in an ISA so should put money in that but I just worry about the notice period/penalty to get money out for fixed term ISAs as I’m not sure if I’m going to sell my place/buy a better place so my finances aren’t that predictable. 

Well I hope we are all lucky this month! 

I have £100k and am pulling them out tomorrow after the draw today, I will put into top rate instant access for now and maybe fix for a year when rates rise in the next few weeks, I am done with PB's for now.

pbcpdeveloper

eskbanker said:

abgrad said:

Well I hope we are all lucky this month! 

At the risk of perhaps taking a throwaway comment too literally, PB holders can't all be lucky in any month!  The fundamental principle of a random draw is that many will achieve an 'average luck' return, but plenty won't (and plenty will achieve more) - everyone with a maximum holding has just over 10% chance of winning nothing in any given month, and obviously that chance increases for smaller holdings....

I think it was probably meant for people on this thread, not all holders of Premium Bonds.

Anyway, I wish me luck!

pbcpdeveloper

jaceyboy said:

abgrad said:

If I don’t get like £300 in this months draw I think I’m going to have to get some money out!

I’ve got £50k in and have been getting less than £100 a month for a few months, sometimes nothing though some of these months I had £30 something k in so not full amount. But I see other people on here say for example that they only got £50 last month and they have been getting in the £200s for months and they don’t have the full amount in and that makes me feel a bit rubbish. I know I should have money in an ISA and am falling victim to the luck aspect of premium bonds. 

I don’t have any money in an ISA so should put money in that but I just worry about the notice period/penalty to get money out for fixed term ISAs as I’m not sure if I’m going to sell my place/buy a better place so my finances aren’t that predictable. 

Well I hope we are all lucky this month! 

I have £100k and am pulling them out tomorrow after the draw today, I will put into top rate instant access for now and maybe fix for a year when rates rise in the next few weeks, I am done with PB's for now.

The draw's already taken place, you can take them out now if you like.

Sg28

One of this month £1m winners bought just £23k 4 months ago! Now thats luck....

PixelPound

thegentleway said:

abgrad said:

If I don’t get like £300 in this months draw I think I’m going to have to get some money out!

I’ve got £50k in and have been getting less than £100 a month for a few months, sometimes nothing though some of these months I had £30 something k in so not full amount. But I see other people on here say for example that they only got £50 last month and they have been getting in the £200s for months and they don’t have the full amount in and that makes me feel a bit rubbish. I know I should have money in an ISA and am falling victim to the luck aspect of premium bonds. 

I don’t have any money in an ISA so should put money in that but I just worry about the notice period/penalty to get money out for fixed term ISAs as I’m not sure if I’m going to sell my place/buy a better place so my finances aren’t that predictable. 

Well I hope we are all lucky this month! 

odds of getting ~£300 on full amount are something like 5% so you've set a very high bar!

You should only expect to win about £125 a month, some months nothing, some months a bit more... And the odds don't change if you've had a bad run; they are the same regardless of previous wins. 

https://www.premiumbondsprizes.com/detailed#50000

Median £125
Mean £166.67
Mode £100

You need to be in the top 25% to be getting £200+

strawb_shortcake

I must have been on the lucky side this year

Feb £525

Apr £200

July £300

Not expecting those kind of wins or regularity to continue 

PixelPound

Stargunner said:

abgrad said:

Just calculated and have had only £150 total spread over the last 4 months, 2 of those months I had £38k in and 2 almost the full holding. Terrible! I know everyone is just going to say that premium bonds are just for it you’ve used up your ISA allowance etc so anything from them is a bonus in a way, but I guess I’m one of those hoping for a proper win and not being rationale 😂 

It is your decision. You can currently get around 4.3% in an easy access ISA with no withdrawal penalties or around 5.7% in a 1 year fixed that would have a penalty on withdrawals ranging from 60-90 days loss of interest. 

Many still don't appreciate the odds. Whilst PB are set at a mean average of 4%, the high prizes skew it a bit. The median rate is 3.45%.

@abgrad on a full £50K holding the odds of winning a £million is once every 101,140 years, winning £100,000 once every 2,627 years. Even £10,000 is once every 263 years, and £5,000 once every 132 years. So what do you call a proper win?

eskbanker

nic_c said:

Stargunner said:

abgrad said:

Just calculated and have had only £150 total spread over the last 4 months, 2 of those months I had £38k in and 2 almost the full holding. Terrible! I know everyone is just going to say that premium bonds are just for it you’ve used up your ISA allowance etc so anything from them is a bonus in a way, but I guess I’m one of those hoping for a proper win and not being rationale 😂 

It is your decision. You can currently get around 4.3% in an easy access ISA with no withdrawal penalties or around 5.7% in a 1 year fixed that would have a penalty on withdrawals ranging from 60-90 days loss of interest. 

Many still don't appreciate the odds. Whilst PB are set at a mean average of 4%, the high prizes skew it a bit. The median rate is 3.45%.

Perhaps worth noting that those percentages only apply from today's draw onwards - they're obviously suited to forward-looking comparisons with savings accounts, but aren't applicable to analysis of prior months' PB wins (or lack thereof)....

subjecttocontract

Yes I was torn between giving it away or buying premium bonds cos they're both tax free. Providing the taxman doesn't get his hands on any of it I'm cool.

Sg28

subjecttocontract said:

Yes I was torn between giving it away or buying premium bonds cos they're both tax free. Providing the taxman doesn't get his hands on any of it I'm cool.

I dont mind holding on to it for you. Ill happily pay the tax... dm me