A Premium Bonds customer has voiced their frustration after not winning any prizes for over 50 years. The unhappy saver asked over X: “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? “.

In response to the query, a representative set out the rules for the savings scheme. 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.”

A woman checks her finances
NS&I has explained the rules for Premium Bonds

They also clarified 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 the provider: “So how much must I invest to get a better chance to win something before I leave this world? “.

NS&I explained: “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 purchasing additional Premium Bonds, a minimum of £25 must be bought.