A Premium Bonds customer voiced their frustration as they had won no prizes in over 50 years.
They asked the savings giant over X, formerly Twitter: “54 years ago I bought my first Premium Bond and now I’m 70, will I ever be a millionaire or will I remain a pauper?”
A representative responded to their query to explain the rules. They said: “Please note it is an essential feature of the Premium Bond scheme that winning is solely a matter of luck.
“There can be no guarantee of any level of return whatever the value of the holding. The random nature of the prize draw means that there is no predictable pattern to the frequency or value of prize wins.
“It is possible to experience months without winning a prize, as well as months with multiple wins.”
They also set out the rules about the odds of winning, stating: “Currently, the odds of winning are 21,000 to 1 for every £1 Bond.
“This ratio remains the same for a holder of £1 as it does for one with the maximum holding of £50,000.
“The only distinction between them is that the holder of £50,000 has more ‘entries’ into the monthly draw. May I take this opportunity to wish you luck in future prize draws.”
The customer then asked: “So how much must I invest to get a better chance to win something before I leave this world?”
NS&I said in response: “You can invest up to £50,000. As the prize draw is a matter of luck, there is no guarantee you will win a prize no matter the value you hold, although holding more Bonds will give you more entries into the prize draw.”
When buying more Premium Bonds, you must purchase at least £25 worth of the Bonds.
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