Re: Premium Bonds
For those thinking about PBs or who have them and are wondering if they have been wasting their time, this link will tell you the full scoop
https://www.moneysavingexpert.com/sa...-bonds#arethey
"Line up everyone with £1,000 worth of Premium Bonds in order of their year's winnings, and the person halfway along would have won… not a penny! In fact, you'd need to walk past two-thirds of the line until you hit the first £25 winner"
The actual odds of winning any of the prizes is utterly staggeringly appalling as follows:
(Odds of winning at least this amount per £1 bond)
£1 million - 1 in 34,324,121,998
£100,000 - 1 in 13,729,608,271
£50,000 - 1 in 7,627,555,613
£25,000 - 1 in 3,432,398,062
£10,000 - 1 in 1,492,346,427
£5,000 - 1 in 707,710,578
£1,000 - 1 in 48,617,512
£500 - 1 in 12,814,623
£100 - 1 in 2,568,102
£50 - 1 in 1,427,044
£25 - 1 in 30,000
£0 - 68,645,647,294 Virtual certainty
So that top jackpot, your odds are 1 in 34 billion !!!!
When the National Lottery first started (49 balls) the odds of winning the jackpot were approx. 1 in 14 MILLION
Here, with PBs you get to win just £500 for about the same odds.
The odds of you just winning £50 is almost 1 in 1.5 million !
It's a losing proposition imo, what they call "a sucker bet"
But suckers are a plenty !
For those with PBs or those thinking of handing their hard-earned over, I'd encourage you to put your numbers into this Premium Bond Calculator and check the results
https://www.moneysavingexpert.com/sa...ds-calculator/