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Old 18-09-2005, 09:49   #21
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Quote:
Originally Posted by cjanderson
well your risk is that you don't earn interest at all - you could get 5% on a savings account (4% post tax) which would mean getting £800 a year interest i think.

With premium bonds, on average you get about 3% but it could be more or less.

So depends on your attitude to risk. Once I've got 2k in there I'll stop. better value to pay off my mortgage every month now.
The more you have in there the higher chance you get a payout.Its a risk whether a come out on top or I loose some interest.Guess I'll check out www.moneysavingexpert.com to find out which is the best paying current account or saving account.

Last edited by Q; 18-09-2005 at 09:51.
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Old 18-09-2005, 09:51   #22
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Quote:
Originally Posted by Q
The more you have in there the higher chance you get a payout.Its a risk whether a come out on top or I loose some interest.
strictly not true, each bond has the same chance.

But, if you just had £50 in, it would probably take you years to get back a £50 prize (or you'd win £50 right away and have a 100% return). If you have £20k in there, you are more likely to see the £50 prizes more often, so the actual winnings tends towards the 3.2% return more.
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Old 18-09-2005, 10:07   #23
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Quote:
Originally Posted by cjanderson
strictly not true, each bond has the same chance.

But, if you just had £50 in, it would probably take you years to get back a £50 prize (or you'd win £50 right away and have a 100% return). If you have £20k in there, you are more likely to see the £50 prizes more often, so the actual winnings tends towards the 3.2% return more.
Is it just one bond then that gets put in the draw?I thought if you got £20,000 then more enteries were put in than if you had just £50.If it is just one no matter what then there is no increase in probaility in winning in my eyes.
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Old 18-09-2005, 10:07   #24
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Quote:
Originally Posted by cjanderson
strictly not true, each bond has the same chance.
Huh? What he said was correct and so's the second part of your sentence. Each bond has an equal chance and the more bonds means a greater chance of winning.
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Old 18-09-2005, 10:12   #25
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Originally Posted by Ragnarak
Huh? What he said was correct and so's the second part of your sentence. Each bond has an equal chance and the more bonds means a greater chance of winning.
Ah, yes, sort of see what he is saying. Yes, more likely you will get a payout, but in the long run, you'd expect to earn the same return (3%) when averaged out.
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Old 18-09-2005, 10:28   #26
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Do you have any idea how they arrive at that 3% and if they derive it statistically what kind of error and standard deviation are associated with it?
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Old 18-09-2005, 16:50   #27
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Quote:
Originally Posted by Q
Is it just one bond then that gets put in the draw?I thought if you got £20,000 then more enteries were put in than if you had just £50.If it is just one no matter what then there is no increase in probaility in winning in my eyes.
£20,000 = 20,000 entries in each monthly draw.
£50 = 50 entries in each montly draw.

I've just bought £2,500 which will go into the November draw. Decided that I fancied becoming a millionaire without much risk , so going to try it for a year or so. If it doesn't go well, will probably use it to pay off some mortgage.
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Old 18-09-2005, 16:57   #28
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Got £100 worth a couple of years ago and have so far won two £50 prizes, so it's paid for itself. Added another £200 a few months ago.
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Old 18-09-2005, 17:05   #29
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This thread has finally made me get off my arse and buy some.Ive applied for some and will go into the November Draw.Will give it a try for a while.

Thanks to Catherine for her advice as well-credit where credits due.Told her we should call her the Martin Lewis of thedvdforums.com.

If anyone doesnt know about it then www.moneysavingexpert.com is excellent for finding the cheapest and best things out there.
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Old 18-09-2005, 18:39   #30
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No problem, glad to be of help.

I put in a lump sum plus you can now invest monthly very easiliy. So have been doing that for a bit.

Million times better than playing the lottery.
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Old 18-09-2005, 18:44   #31
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You can also set something up whereby if you do win, it automatically gets reinvested back into premium bonds iirc. For those who have won back their money, that's good going, I wouldnt say no on 10k
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Old 18-09-2005, 19:21   #32
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Already had 3 wins this year! (all only £50 though...)

Got £6K worth of bonds and buying £200 more every month, coz I've already used up my ISA limit for this tax year.....
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Old 03-11-2005, 16:58   #33
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Quote:
Originally Posted by cjanderson
1st i think. results go up on the website from 2nd or so.

Not won anything yet
I got some bonds to go into this month's draw, but the website is still showing October only.

Yes, I know I'm impatient, but I want to know if I've won £5!
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Old 03-11-2005, 17:00   #34
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Quote:
Originally Posted by Arthur Fowler
I got some bonds to go into this month's draw, but the website is still showing October only.

Yes, I know I'm impatient, but I want to know if I've won £5!
apparently the site is updated so would show a Nov win, but the text has not been yet.
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Old 03-11-2005, 17:06   #35
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I have £500 worth and have won twice in the last 3 years so my bonds are punching above their weight at the moment with regards to odds.

EDIT - Both were £50 prizes - good old ernie!

Last edited by IndigoLion; 03-11-2005 at 17:07. Reason: Adding
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Old 03-11-2005, 17:10   #36
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Quote:
Originally Posted by cjanderson
apparently the site is updated so would show a Nov win, but the text has not been yet.
So I haven't won anything , not even a million from my £10 investment

Have to wait until next month then I guess.
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Old 03-11-2005, 17:24   #37
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Quote:
Originally Posted by Arthur Fowler
I got some bonds to go into this month's draw, but the website is still showing October only.

Yes, I know I'm impatient, but I want to know if I've won £5!
I can answer that for you: You haven't won £5 and you never will. The minimum prize is £50
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Old 03-11-2005, 17:27   #38
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Quote:
Originally Posted by Arthur Fowler
So I haven't won anything , not even a million from my £10 investment
Are you having a problem with the zero key on your keyboard today? The minimum investment is £100 unless you invested donkey's years ago ( in which case you wouldn't have bought your bonds to go into this month's draw)
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Old 03-11-2005, 18:09   #39
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Got mine on 11th October, so I wont be in the draw till December 1st?
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Old 03-11-2005, 18:16   #40
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I have £13 worth that were apparantly a Christening present. I won £50 when I was about 13 (now 33) which was a lot of money at that age.
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