In the most recent Premium Bonds prize draw, our analysis at This is Money revealed an interesting trend: exactly half of the high-value prizes were claimed by individuals who held the maximum allowed amount of £50,000 in bonds. The October draw featured a total of 92 top prizes, including two £1 million awards and 90 prizes worth £100,000 each. Remarkably, 46 of these prizes, including the two £1 million jackpots, were won by bondholders with £50,000 holdings. One of the fortunate £1 million winners hailed from Greater Manchester, having purchased the winning bond in October 2016, while the other winner resided in West Scotland and had acquired the lucky bond in September 2009.
Furthermore, 44 out of the 90 £100,000 prizes were claimed by those who held the maximum limit of £50,000. It’s noteworthy that this £50,000 cap has been in place since June 2015, following an increase from the previous limit of £40,000. Additionally, 55 out of the 92 top prizes were secured by bondholders with holdings of £40,000 or more, representing almost three in five of these high-value rewards.
In the October draw, there were a total of 180 £50,000 prizes, with 82 of these being won by individuals who held the maximum £50,000 in bonds. This means that 45.6 percent of all the £50,000 prizes were claimed by those with the maximum allowed holdings. Impressively, 59.4 percent of the £50,000 prizes (107 out of 180) were won by bondholders with holdings of £40,000 or more, again highlighting the dominance of higher holdings in the winning circle.
In a heartening testament to the longevity of patience, a bond purchased in 1957, merely a year after the Premium Bonds prize was introduced, won a substantial £25,000 prize despite its modest £40 holding. Additionally, two fortunate winners walked away with £100,000 prizes despite having investments of less than £1,000. Among them was a bondholder from Devon who invested £200 in April 2015, and another lucky winner from Lancashire with a £150 holding purchased in November 1977, who secured a remarkable £50,000 prize.
According to the official statement from NS&I, in the latest draw, more than 5 million prizes were awarded, totaling an impressive £470 million in payouts. From the September draw onwards, the underlying prize fund stands at 4.65 percent, with improved odds of winning at 21,000 to 1, marking the most favorable odds since the April 2008 prize draw. These statistics indicate a promising turn of events for Premium Bonds holders, showing that both patience and higher investments significantly enhance the chances of winning substantial prizes.