I have had substantial amounts of premium bonds with national savings and investments for the better part of two decades. The revenue I received was modest – the odd little prize wins here and there.
I was considering selling my bonds and starting again. The new numbers seem to be lucky.
For example, I noticed that the two £ 1million jackpot winners in the last draw were both buying bonds in 2021. Is there any benefit in refreshing my old bonds?
In January 2000, 13.5 billion bonds were eligible for the draw; In October 2021, the number of bonds eligible for the draw was $ 113 billion, an eightfold increase.
Ed Magnus It’s money answers: More than 22 million people across the country have premium bonds, and many others are thinking about this question.
In this month’s Premium Bond Draw, as you suggest, £ 1million prize-winning bond numbers were purchased in January and February of this year – the draw has been since 1956.
Looking back on last year’s winners, people’s concerns are not diminished.
In the last 12 months, half of the 24 £ 1 million prizes have been won by bond numbers purchased in 2020 or 2021.
Digging further into statistics, 17 of the 24 premium bond millionaires last year purchased their winning bond numbers over the past five years.
Premium Bond Winners
|The prize||Area||Bond value|
|£ 1,000,000||South Gloucestershire||£ 2,000|
|£ 1,000,000||Surrey||£ 50,000|
|£ 100,000||Northumberland||£ 5,000|
|£ 100,000||Lincolnshire||£ 2,500|
|£ 100,000||Norfolk||£ 30,000|
|£ 100,000||Hertfordshire||£ 50|
|£ 100,000||West Sussex||, 49,990|
|£ 50,000||Barnett||£ 100|
More October 2021 winners
View the October 2021 winners list
However, new premium bonds are more likely to win because there are more in the monthly prize draw.
The number of eligible premium bonds has increased from approximately $ 63 billion to $ 113 billion since October 2016, indicating that there is no bias toward new bond numbers, even though the final prize is somewhat tied to the eventual buyers.
|The prize||Bond 1 Bond Holding|
|£ 1 million||56.54 billion in 1|
|£ 100,000||1 in 22.62 billion|
|£ 50,000||1 in 9423 million|
|£ 25,000||1 in 5385 million|
|£ 10,000||1 in 1037 million|
It is not uncommon for 42 percent of the recent 24 premium bond millionaires to buy their winning bond in the last two years.
According to NS&I figures, 36.9% of the premium bonds currently available for the draw have been purchased from 1 January 2020.
Not only increased interest rates, but also the amount that can be placed on them has increased significantly.
The limit rose from £ 20,000 in 2003 to £ 30,000. It then rose to £ 40,000 in 2014 and £ 50,000 in 2015.
|Decade of investment||% £ 1 Bonds in the September 2021 Draw||% Of prizes paid in the September 2021 draw|
|Prior to 2000||2.7%||2.7%|
Your luck seems to be out of reach for someone who has had the same premium bonds for the better part of two decades.
But this may be true because the higher the bond numbers the less likely your chances of winning the ultimate cash prize are diminished.
97.3% of the available bonds have been purchased since 1 January 2000 and 85.4% have been purchased since 1 January 2010.
How are the numbers drawn?
The future of premium bond holders rests on an electronic random number generator called ERNIE 5.
Unlike earlier versions that used thermal noise to generate random numbers, the ERNIE 5 is powered by quantum technology that uses light.
The new technology enables ERNIE 5 to generate lucky numbers in all but 12 minutes worth of 22.1 billion for 535 million tax-free prizes – 42.5 times faster than its thermal pre-eminence.
NS&I receives each bond number, whether it be 8, 9, 10 or 11 digits, and there is a separate and equal chance to win the prize, no matter when it is purchased.
We spoke with team members at NS&I to see if they could shed further light on our readers’ question.
Why do new premium bonds look so lucky?
An NS&I spokesman answers: Whenever purchased, each £ 1 bond will have an equal chance of winning a prize draw on each monthly premium bond.
If customers hold their bonds longer, the chance of winning every £ 1 bond prize does not change.
From January 2000 to October 2021, there were 399 premium bond millionaires.
Of these millionaires, 70 bought their winning bond before January 2000.
The last time someone won a The Jackpot of 1 million premium bonds was with a bond purchased before January 2000, and in October 2019, a man from Essex won a premium bond of $ 4,000 with a bond of 4,000.
The longest anyone holds a bond is 16,587 days before winning the £ 1million jackpot, and in July 2004, a woman from the London Borough of Newham won it for just £ 17.
The winning bond was purchased in February 1959.
The woman’s £ 17 is also the smallest to hold the £ 1 million premium bonds jackpot.
In January 2000, there were 13.5 billion bonds eligible for the draw; In October 2021, the number of bonds eligible for the draw was over 113 billion — an eightfold increase.
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