Premium Bonds Win

[PaulnCarole]

If we had �1,000 worth of Premium Bonds, what are the odds of us winning the jackpot (million pound) prize?

[kempie]

From August there will be two �1 million pound prizes up for grabs by each of the 26 billion Premium Bonds that exist.

Each Bond has a 1 in 13 billion chance of winning.

This means that your 1000 Bonds have a 1 in 13 million chance of winning the �1m

These odds are approximately 4650 times worse than compared to a Lotto jackpot of, for example, �5m.

[Oneeyedvic]

However, you have not lost your money as you have with the Lotto.

On 'average' you should receive around a 4% return per year on your premium bnonds - slightly less than a regular savings account, but of course thre is that outside chance you will win big!. Obviously you may also win nothing.

[acw]

With anything over �5000 you can expect to win at least �300 a year and still have all your money available to withdraw. 

I personally find them to be an excellent investment - *gazes up at �50 cheques from June and July that are waiting to be paid in*. 

For more information - similar to that provided by Kempie, see http://www.nsandi.com/

[PaulnCarole]

Thanks for all replies - anyone know the odds of us winning the jackpot if we had the maximum holding, �30,000? Thanks.

[kempie]

They'd be 30 times better i.e. 1 in 43,333

[kempie]

duh... should read 1 in 433,333