Oh dear After all that effort to buy £50k back in July. It was looking good; 3 x £25 in August, 5 x £25 in September, that is an annualised run rate of 2.4% p.a. against my expected rate of 1.2% p.a. (I ignore the possibility of prizes in excess of £25 in these calculations) My expected run rate will now reduce to 0.85% p.a. Still better than elsewhere.NS&I are cutting the UK Premium Bonds “prize-fund rate” from 1.4% to 1% from December.
Premium Bonds pay 0.85% in £25 units. So with 10k you might expect just over 3 prizes per year but varying between say 1 and 5.Hi Duke of Marmalade, are the chances of winning on Premium Bonds better than winning on Irish Prize Bonds. I have approx 10k in savings but the interest rates make no sense to keep in the bank. Given the chances of winning on Prize Bonds are very slim I would be relying on luck more than anything but I might give the Premium Bonds a shot. Is it easy enough to purchase from the UK? What do I need to get started?
You would have expected on average 9.1 prizes. You are spot on average as it is not physically possible to get 0.1 of a prize. Your chances of 10 or more was 43%. Under the new rules you can expect on average 6.6 prizes in a year, with only a 14% chance of 10 or more.Ended up with 10 x €50 prizes for 2020 for 130k.
You would have expected 3.2 prizes with only a 4% chance of getting none. You were unlucky; are you sure you had them for the full year?SparkRite said:Ended up with 0 x €0 prizes for 2020 for 45k
Thanks for the maths, Duke.You would have expected 3.2 prizes with only a 4% chance of getting none. You were unlucky; are you sure you had them for the full year?
Under new rules you can expect 2.2 prizes per year with 11% chance of no prizes.
That is only a 1% chance. I presume you don't back the gee gees.Thanks for the maths, Duke.
Actually have them for 18 months now and zero return.
That is only a 1% chance. I presume you don't back the gee gees.