NS&I explains why some Premium Bonds holders will have ‘better chances of winning’

Premium bonds: Expert explains the 'Ernie' machine

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This month, there was a total of 3,123,205 Premium Bonds prizes. These are worth an astounding sum of £89,792,075.

NS&I announced some details about the highest value winners today.

Additionally, the Government-backed savings provider said there were 107,750,479,204 Bond numbers eligible for the draw.

Among the winners were two people who have been selected for a £1million payout each.

As always, their identities have remained under wraps, but NS&I has shared some information about the jackpot winners.

Both male, the £1million winners come from Surrey and Wiltshire.

436VB112388 was the first Bond number drawn, NS&I said, revealing it belongs to a male from Surrey.

He bought the winning Bond only a matter of months ago, in February 2021.

The man has a holding of £43,590 in Premium Bonds.

It means he is the 26th Premium Bonds jackpot winner from Surrey.

NS&I confirmed the second Bond number to be drawn was 340LX170519.

This Winning Bond belongs to a man from Wiltshire.

He holds a total of £34,000 in Premium Bonds, having purchased the winning Bond in September 2018.

His win makes him the ninth Premium Bonds jackpot winner from Wiltshire.

Amid the results, some may be wondering how likely it is that they could win a prize in the monthly draw.

The odds currently stand at 34,500 to one per £1 Bond number.

NS&I has also addressed some questions surrounding winners on its website, specifically on its corporate branch.

It seems a question which has been asked is: “Why are the only big winners those who have larger Premium Bonds holdings?”

Responding to that very query, NS&I states: “We’ll give you a unique Bond number for every £1 you invest.

“Every number has a separate and equal chance each month of winning a prize.”

As such NS&I explained purchasing more Bonds could improve the likelihood of winning.

“So the more Bonds you buy, the better your chances of winning,” NS&I stated.

“While 2.4 percent of our Premium Bonds holders have the maximum £50,000 invested (as of April 2019), their total investment makes up 34.4 percent of the £80billion held in Premium Bonds, from which the prize fund is calculated.”

But, although it could mean better chances of winning, that’s not to say it would definitely mean prizes.

“Buying more Bonds will improve your chances of winning a prize, but there’s no guarantee what size prize that will be – back in 2004, one Premium Bonds customer had just £17 invested when she won the £1million jackpot.”

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