Premium Bonds holder fumes after 62 years pass with winning a penny – NS&I responds | Personal Finance | Finance
A frustrated Premium Bond holder has complained of 62 years without a win.
Steve Hawkins took to X – formerly Twitter – to challenge bosses at National Savings & Investments (NS&I) about his lack of luck.
Steve has just six £1 bonds, which dramatically reduces the chance of a win, however NS&I insists even people with just a few bonds can claim thousands of pounds.
The organisation pointed out that the draw is entirely random and – in the end – it is just a matter of chance.
A frustrated Steve suggested the draw might even be fixed.
He wrote: “I would like to know how in 62 years my Premium Bonds have won nothing – obviously they are a fix then.”
In response, NS&I stated: “The prize draw’s randomness makes it impossible to predict win frequency or value. You may go months without winning or have multiple wins in a month.
“Currently, odds are 21,000 to 1 for every £1 Bond, regardless of your holding value.”
That failed to satisfy Steve, who responded: “Ok, but I have 6 premium bonds that have won nothing.
“It’s hasn’t just gone months it has gone 62 years. That is almost impossible to have 6 premium bonds that don’t win £5 in that amount of time.”
NS&I defended the way the draw works, pointing out: “If you have 6 Bonds, this means you have £6 invested. That is 21,500 to one for those six.
“The minimum you can win is £25; however, the odds are low with only 6 Bonds, but not impossible.”
And it pointed out that just this month there was winner of a big prize for someone who had just two £1 Bonds.
The organisation stated: “We had a winner with a holding of just £2, who won a nice £5,000 prize!”
It signed off by wishing him luck in future draws.
