Premium Bonds: your odds of winning a prize with a £1, £10,000 or £50,000 investment

Updated on 11 October 2017

Take a look at the latest odds of bagging each prize in the Premium Bonds draw, depending on how much you have invested.

Your Premium Bonds winning odds

Your odds of winning a prize in the Premium Bonds monthly draw are slim.

Each individual £1 bond has a one-in-30,000 chance of winning any prize, and the odds are really stacked against you if you’re after the £1 million jackpot.

Speaking of prizes, be sure to check our regularly updated Premium Bond winners article to find out if you've won big each month.

The odds of winning each prize in the Premium Bonds draw

Here’s how prizes were distributed in October 2017 draw (the distribution of the prizes changes each month to keep the odds of winning any prize same) along with what the odds were of winning each prize for a holding of £1, £10,000 and the full £50,000 in Premium Bonds.

Prize value

No. of prizes

Odds of winning with a £1 bond

Odds of winning with a £10,000 holding

Odds of winning with a £50,000 holding



1 in 35.4 billion

1 in 3.54 million

1 in 708,058



1 in 23.6 billion

1 in 2,360,192

1 in 472,039



1 in 14161.15 million

1 in 1,416,115

1 in 283,223



1 in 6436.89 million

1 in 643,689

1 in 128,738



1 in 2441.58 million

1 in 244,158

1 in 48,832



1 in 1264.39 million

1 in 126,439

1 in 25,288



1 in 52.22 million

1 in 5,222

1 in 1,045



1 in 17.41 million

1 in 1,741

1 in 349



1 in 3,212,747

1 in 322

1 in 65



1 in 3,212,747





1 in 30,644



Any prize


1 in 30,000



Source: NS&I

Could you increase your odds of winning?

We’ve now established that it’s hard for a single bond to win even a £25 prize, never mind any of the top awards. So, what can you do to increase your chances of winning?

Live in the south of England is one often-trumpeted solution.

However, there are only more winners down south because more people live there and more people who live there hold Premium Bonds. So statistically people who live there are going to win more often.

For more demystifying check out: Premium Bonds: common myths busted.

In fact, the only way to win more prizes is to simply buy more Premium Bonds, so don't believe anyone who claims to have a trick up their sleeve.

This is because each prize-winning Bond number is selected randomly by ERNIE (which stands for Electronic Random Number Indicator Equipment), so there is no way to beat the system.

Should you invest in Premium Bonds?

The ‘Premium Bond fund rate’ represents the return someone with average luck could get.

At the moment this is 1.15%, so someone with £50,000 invested would win an average of £575 each year.

But as numbers are randomly-selected, there is also a chance you could win big or, more likely, win nothing at all!

One of the biggest attractions of Premium Bonds is that prizes are tax-free.

However, the new Personal Savings Allowance means you can earn up to £1,000 (£500 for higher-rate taxpayers) in savings interest without the taxman taking a cut.

Since statistically, you’re unlikely to earn more than this, even if you invest the maximum £50,000, you are probably better off putting your money in a high-interest current account.

However, if you have other investments that are beating inflation and just want to experience the thrill of the draw each month, it’s the safest place to put your money.

Unlike other savings accounts which are protected by the Financial Services Compensation Scheme (FSCS) which guarantees the first £85,000 deposited per person per institution, NS&I is backed by the treasury so 100% of deposits are protected.

If you don’t have any Premium Bonds but are interested in buying some use our simple guide: Best way to buy Premium Bonds online, by phone and by post.

Finally, if you think you may have missed out on a windfall use our Unclaimed Premium Bond prizes: have you won? guide to find out how to claim your money.

If you'd prefer to put your cash into a traditional savings account, check out the loveMONEY savings centre.


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