Premium Bonds odds: your chances of winning


Updated on 29 August 2019

What are your odds of winning a prize with Premium Bonds? Read on to see your chances of bagging each prize in the monthly 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-24,500 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 the August 2019 draw (the distribution of prizes changes each month to keep the odds of winning any prize the same) along with what the odds were of winning each prize for a holding of a single £1 bond.

Since we last updated this article with the April 2018 draw odds, it’s become more difficult to bag the top prize.

The odds are slightly better for other top prizes compared to April 2018, although this may be affected by an increase in the number of prizes awarded.  

Prize value

No. of prizes

Odds of winning with a £1 bond

£1,000,000

2

1 in 40.99 billion

£100,000

6

1 in 13.66 billion

£50,000

10

1 in 8,197 million

£25,000

23

1 in 3,564 million

£10,000

55

1 in 1,490 million

£5,000

111

1 in 738.5 million

£1,000

1,913

1 in 42.8 million

£500

5,739

1 in 14.3 million

£100

26,241

1 in 3,124,091

£50

26,241

1 in 3,124,091

£25

3,285,754

1 in 24,950

Any prize

3,346,095

1 in 24,500

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.

But there are only more winners down south because more people live there and more people who live there hold Premium Bonds.

So, statistically there are likely to be more winners from there.

For more demystifying check out: Premium Bonds: common myths busted and have a read about how the Premium Bond winners are chosen.

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 or secret strategy.

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.

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