Premium Bond Winner ?

PixelPound

mebu60 said:

HotDog2020 said:

I am slowly building up my premium bonds pot, I have £1000 Although I think the first draw for this will be July, I did have £100 before and won zilch - but I wouldn't expect to win a huge amount with only £100/ Next month £1000. But I want to join in. I am impressed with some of the wins on here. Since I had £25 - £50- £100 - £1000 I have won nothing. I have had more in holding in the past and won very little but I am keen to build up and try again. 

With the 'average' return around 4%, on £1000 you could statistically expect one or at a push two £25 wins a year. 

Keep on building up your stake. Each individual bond has a 1:21000 chance of winning a prize.

There's always hope. A £100k winner this month only had a £300 holding. 

The average return is lower the less you have due to the fact the minimum prize is £25. For a £1000 investment you should expect 0 or 1 prizes a year. On £1000 you should expect no prizes 11 months of the year and on average a prize every 2 years.
If you go to £10,000 then it's getting a prize on average every other month, though expect no prizes on average 7 months a year. As you increase further it goes to more prizes and the rate of return closer to the headline 4.4%

So if you compare with winning 1 or possibly 2 prizes with say putting £1000 in saving of say an unspectacular 3.5% (nets you £35 in one year or £72 over 2) then it doesn't make much sense for a smallish holding. Then again it depends on the reason behind wanting to put into PB's, forgoing equivalent of interest from savings might be worth it for the chance of winning or actually winning prizes even if on average over the year it might be less than the average return quoted.

Many on this thread have maximum holdings or near, but will have lots of other investments elsewhere. I suspect that if if a future government abolished the tax free status or limited it, most would cash in their PB's.

qwert10

Had 5k for 25 years never won. Cashed in and upped to the max, won every drawer so far varying from £700 to £300.

Kim_13

I suspect that there would be controversy if they did remove the tax free status, on the basis that some holders would have been able to put them into an ISA over past years had they known that the rug would be pulled from under them.

More likely would be lowering the holding limit, possibly grandfathering in the higher amount for those that already have it. Though as the limit has been unchanged for the best part of a decade now, you could say that fiscal drag does that anyway without the political fuss.

slinger2

With over £120 billion invested in premium bonds, probably they'll do nothing. The £50,000 limit hasn't increased since 2015 and simply leaving that unchanged has a long-term impact.

Class142

£150 for me on FH 1x£100 and 2x£25 that’s my second full year complete.

• July 23 : £0 ☹️
• August 23 : £25
• September 23 : £200 - 2x£25 1x£50 1x100
• October 23 : £250 - 1x£50 2x£100
• November 23 : £100 - 2x£50
• December 23 : £125 - 3x£25 1x£50
• January 24 : £350 - 2x25 2x50 2x100
• February 24 : £0 ☹️
• March 24 : £100 1x100
• April 24 : £50 1x£50
• May 24 : £300 2x50 2x£100
• June 24 : £150 2x25 1x100

Yearly Total : £1650

Year 23/24 : £1650 3.3%

Year 22/23 : £1300 2.6%

Best Month : June 23 £575

Grand Total Since July 22 : £2950

nottsphil

qwert10 said:

Had 5k for 25 years never won. 

The odds against that must be astronomical....

LeafGreen

nottsphil said:

qwert10 said:

Had 5k for 25 years never won. 

The odds against that must be astronomical....

extremely unlikely indeed, to the point that I would suggest there must somehow be prizes that you don’t know about.

mandarin6

My OH won in the May draw. He reinvests so the numbers allocated were 578Q.. eligible for June draw.  As he thought his luck was in he decided in the middle of May to buy some more, by chance the numbers allocated were 579Q.. eligible for July draw. What I can't understand is why someone won 50k with a 50k bond numbered 579Q bought in April!

I'm sure someone on here will be able to explain?

pbcpdeveloper

Good question, (it was a £100k prize win btw).  Only scenario I can think of is; the May draw is actually performed at the backend of April. If NS&I also do the auto reinvest in April then that would explain the Purchase Date of April and the number was allocated after you OH's auto reinvest 578Q numbers.   
I would assume the 579Q number you manually purchased in May was a higher number than the £100k winning 579Q number?

poppystar

Or alternatively they started issuing 579Q in April and the one you have has a later next letter than the one that won ie. QG onwards since the one that won was QF