Is it true that the more bonds you buy the more chance you have of winning?

Question

T

his month I won £250

The month before I won £150...

I invested £30,000 on my bonds and have never won a £1,000 in one go. Do I stand a chance of ever winning a million?

Answer 1

It's just like the lottery, the more tickets/bonds you have the more likely you are to win big.

Answer 2

Premioum Bonds are a bad idea.

Take your capital [£30,000] out of Premium Bonds and instead, reinvest it all in Income Bonds.  Income Bonds are issued by the Post Office and are backed up by the UK Treasure and Bank of England.  Income bonds are the only investment which the capital sum is guaranteed.

How much interest - approx 4.5%

How often - monhtly

Where is paid to - bank account of your choice.

£30,000 at 4.5% of interest will get you £1,350 a year.  This is subject to a savings tax of 20% [if you pay income tax] = £270.

Which leaves you with a tax paid income of £1080. This equals a monthly sum of £90 to add to your coffers.

What to do with the £90 each month?

Invest it in an ISA.

Percentage Calculator

http://www.math.com/students/calculators...

Post Office Income Bonds

http://www.nsandi.com/press-room/press-r...

ISAs and TESSAs - at this next site you can find the best investment for you - invest in an ISA etc and get tax free income.

http://www.moneysupermarket.com/isa/

Answer 3

According the the NSAI website, if you've got 30k in bonds, you can expect to win an average of 14 prizes per year.

Everyone who holds  bonds, no matter how few, stands a chance of winning the £1m.

Answer 4

There`s Always a Chance.

The More you do, they more you could loose or win.

all chance my friend.

keep at it. seems like your doing well to.

Answer 5

It looks as though you're doing OK, because apparently the odds of any single £1 bond winning a prize in any monthly draw is 22,000/1

http://www.nsandi.com/products/pb/rates....

(Lots more interesting info available from that link.)

Answer 6

Yes, obviously the more bonds you have the more chances you have - though EACH bond has the same odds against it winning as any other.

However, if you take the UK National Lottery where the odds against an all correct answer are over 14.5 million to 1 you could buy 30 grands worth of tickets every week of your life and never win a tenner.

So, whilst if you invested 30 grand in bonds your chances of winning a major prize are increased, the odds still remain very very long.