Premium Bonds

[pje16]

1 prize £100
last year i suspect that would have been £25

[Spet0789]

Time for a poll to gauge how holders think, perhaps?

https://www.lemonfool.co.uk/viewtopic.php?f=11&t=40509

As a long term Premium Bond holder, I've voted for a higher number of smaller prizes and a lower number of massive prizes.

I would expect that most Lemons would take your view, since this demographic is investment-minded rather than see themselves as gamblers. Lemons are informed and nothing if not "sensible".

But the average Joe - the kind who buys a lottery ticket or does sports betting, might feel differently.

PBs are trying to cater to both, I would think.

Spot on. PBs are calibrated about right I think. For most holders they offer both a nice net return and the dream of the big one. Given £1m isn’t what it used to be and wouldn’t change my life, I’d prefer 1 £2m prize per month but that’s a minor detail.

[Bouleversee]

Very poor reporting in the linked article. The number of £25 prizes has been reduced, but the number of £50 & £100 prizes has been very much increased, a fact ignored in the article. Indeed, there will be well over 4 times as many £50 & £100 prizes as £25 ones.

https://www.moneysavingexpert.com/news/ ... september/

Yes the total number of prizes has gone up, not down, so fewer people with max holdings will receive nothing at all, per Bouleversee's complaint.

Scott.

Yes, that does put rather a different complexion on it and as it happens this month I have won 4 x £50 and 2 x £100 so £400 in all, which has made me much less of a crosspatch. I have no desire to win £1 million and so long as I get a decent return on an investment which is tax free, I shall be a happy bunny. It will be interesting to see what happens over the next few months.

Incidentally, I have not received any TLF messages recently and had to go on their website and search for this thread. No idea why not.
I haven't read th other messages yet. Hope other Fools have done at least as well as I have this month.

[mc2fool]

Incidentally, I have not received any TLF messages recently and had to go on their website and search for this thread. No idea why not.

If you're referring to emailed notifications (e.g. of a new reply to a thread of interest) then they've been broken for a little while. See viewtopic.php?p=610409#p610409, and maybe add a "me too" reply.

[Watis]

Another article, The Guardian this time, discussing the recent changes in the prize distribution, together with some good luck stories:

https://www.theguardian.com/money/2023/ ... of-winning

Watis

[Bouleversee]

Thanks, Mc2. I've done as suggested now. I had assumed that their internet problems of some weeks back would have been sorted by now though since I am finding it impossible to sort my own problems, I don't know why I should have assumed that!

Bouleversee.

[DrFfybes]

Hmmmm.
2 months, 2 full holdings.

One of us has won £100 both months, the other has won nowt.

Now, where was that short term Gilt thread.....

[Steveam]

1x£50 + 3x£100 = £350 on full holding.

Best wishes, Steve

[SebsCat]

£125 this month from two full holdings.

[Laughton]

£150 for me and £300 for Mrs L this month - both on max holdings.

[Lanark]

If you have a full holding at current rates that is equivalent to spending £20 / month on lottery tickets with less than 1 million to 1 odds.
(Based on 10% of the winnings going to high value prizes).

When rates were on the floor I'd think why not, it's earning nothing anyway, but now I think there are better places to park some cash.

[Laughton]

park some cash

I'm sure many/most on here don't have all their cash "invested" in Premium Bonds.

It's more risky than some options but less risky than others.

[swill453]

If you have a full holding at current rates that is equivalent to spending £20 / month on lottery tickets with less than 1 million to 1 odds.
(Based on 10% of the winnings going to high value prizes).

But most people here seem to be more interested in the other 90%.

Scott.

[pje16]

park some cash

I'm sure many/most on here don't have all their cash "invested" in Premium Bonds.

It's more risky than some options but less risky than others.

your money is government backed, no risk at all

unless you mean the chance of earning more elsewhere

[Lootman]

Another article, The Guardian this time, discussing the recent changes in the prize distribution, together with some good luck stories:

https://www.theguardian.com/money/2023/ ... of-winning

Watis

From the article:

"NS&I has also beefed up the number of higher-value prizes and reduced the number of £25 ones. As a result, the number of £100,000 prizes has risen from 77 in August to 90 this month, while the number of £50,000 prizes has jumped from 154 to 181."

Good to see. I went from a £7 holding to a £50,000 holding in June. So my first draw was August. I won £100. Not bad.

This month I won £750 in 4 prizes, including a £500 prize. Better than not bad. That is 1.5% in a month.

[monabri]

Another article, The Guardian this time, discussing the recent changes in the prize distribution, together with some good luck stories:

https://www.theguardian.com/money/2023/ ... of-winning

Watis

From the article:

"NS&I has also beefed up the number of higher-value prizes and reduced the number of £25 ones. As a result, the number of £100,000 prizes has risen from 77 in August to 90 this month, while the number of £50,000 prizes has jumped from 154 to 181."

Good to see. I went from a £7 holding to a £50,000 holding in June. So my first draw was August. I won £100. Not bad.

This month I won £750 in 4 prizes, including a £500 prize. Better than not bad. That is 1.5% in a month.

We've hold 3 max amounts ( mine, wife's and mother in law's). Typically we win £200 per month, maybe £300 - total. This month, my wife won £200, nothing on the other accounts. I'm thinking about reducing the holding!

[Lootman]

From the article:

"NS&I has also beefed up the number of higher-value prizes and reduced the number of £25 ones. As a result, the number of £100,000 prizes has risen from 77 in August to 90 this month, while the number of £50,000 prizes has jumped from 154 to 181."

Good to see. I went from a £7 holding to a £50,000 holding in June. So my first draw was August. I won £100. Not bad.

This month I won £750 in 4 prizes, including a £500 prize. Better than not bad. That is 1.5% in a month.

We've hold 3 max amounts ( mine, wife's and mother in law's). Typically we win £200 per month, maybe £300 - total. This month, my wife won £200, nothing on the other accounts. I'm thinking about reducing the holding!

I have a theory that the draw is skewed to favour those who invested most recently, to get them happy.

I have zero evidence for that theory of course. But if it is true then you are better off alternating between zero and 50K, regularly

[swill453]

I have zero evidence for that theory of course. But if it is true then you are better off alternating between zero and 50K, regularly

But if it's not true (and it's not ) then that strategy will lose expected return since you'll be out the draw for a month each time you flip.

Scott.

[yorkshirelad1]

Here are the Oct 2023 details:

Press release: https://nsandi-corporate.com/news-research/news/octobers-premium-bonds-millionaires-come-greater-manchester-and-west-scotland

News item: https://www.lovemoney.com/news/13635/premium-bonds-winners-have-i-won

High value winners: https://www.nsandi.com/prize-checker/winners

Prize checker: https://www.nsandi.com/prize-checker (due 3 Oct)

[Laughton]

Oooh! Oooh! someone who lives in the same county, who bought the same amount of bonds in the same month as I did just won £50,000.

No idea what my numbers are or where the paperwork is so will just have to wait until tomorrow.

The suspense.