Premium Bond Winner ?

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

abgrad

Hey, to everyone reminding me how poor the odds are and that £300 is a high bar… it’s more of the fact that £300 will make me feel less irritated at the rubbish wins for last few months, but if I don’t get the £300 (or close 😂) then I’ll take at least £20k out and put elsewhere. I feel like I need a target in my head so that I’m not leaving the money there doing basically nothing, keeping thinking next month might be better. I will report back tomorrow 😂 

abgrad

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%.

@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?

Proper win? 🤔 See AnnaBanana82’s post above yours 😂 (and my most recent). I understand the odds and know they are low and I’m not having much luck at the moment so I felt I had to set myself a target this month as I thought about cashing some in last month and didn’t do it, similar to many people with premium bonds. 

abgrad

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....

Thanks for your reply. I meant the people active in this thread but your 10% comment does highlight to me the chances of getting zero this month 😂 

abgrad

pbcpdeveloper said:

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!

Exactly.  As I wrote it I thought, someone’s going to “bite” and comment about this and they did. 😂 No, no, I want all the luck. £100k will do nicely 👍🏻 

pbcpdeveloper

abgrad said:

pbcpdeveloper said:

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!

Exactly.  As I wrote it I thought, someone’s going to “bite” and comment about this and they did. 😂 No, no, I want all the luck. £100k will do nicely 👍🏻 

I'm not bothered about getting a big prize,  50000 £25 prizes will do nicely