40 years ago when i was 7 i bought 6 pounds of premium bonds never won. If put in bank what would i have now?

Question

HAS ANYBODY ELSE GONE THAT LONG WITHOUT WINNING A SINGLE PENNY.40 YEARS IS A LONG TIME TO WAIT.MUST HAVE BEEN IN THOUSANDS OF DRAWS BY NOW.LOOKS LIKE WILL ALWAYS BE POOR.

Answer 1

I'm from the u.s, so this crazy lottery system you speak of is foprign to me, but I did do a quick search to find out what it is:

"Currently, the odds of winning a prize for each bond number held is 21,000 to 1. Around 23 million people own Premium Bonds, over one third of the UK's population."

also

"According to the Sunday Times[1], Premium Bond Probability Calculator[2] on MoneySavingExpert.com shows the odds of winning premium bonds to be as follows

Save £100 over a year and the chance of winning anything is only one-in-20.

Save £1,000 over a year and 57% of people still win nothing.

Save £10,000 over a year and you've only an 18% chance of winning £500 or more"

Your odds don't look great, but you would think after 40 years...so consider this: Every time a randomized event happens, it is random. You could, in theory, flip a coin 200 times and come out tails each time because each flip is still a 50% chance that it will come up tails. Unlikley yes, but possible.

Now, keep in mind you aren't dealing with 50% odds, you are dealing with 21000 to 1 odds in a game with 23 million people. Don't forget that each one of those people has a plenty of bonds (the site I was looking at made it seem you had to purchase in minimums of 100 pounds, more than the 6 you got) So it doesn't seem to strange, here in the u.s we have people who play the lottery every drawing for years, and still lose.

I guess I leave you with, Good luck. Hope you win something.

Answer 2

Yes i have had mine 45 years and never won a penny. If you had put the £6 in the bank you would have about another £18 interest. In the 40 years you have had them there has been 480 monthly draws, however there are over 60 billion tickets held at £1 each....

Answer 3

OK you aint won anything for 40 years,
but come on its only 6 whole pounds you have in bonds.
If you had put money in bank you may have got say £40 but the real value of that would be less than 6 pounds.( taking into account infaltion etc....)

There are people i know who have £5000 and they aint won anything.

ALso there are people who have only one pound of bonds and they have won big prizes.

Remember its a number game so anyone can win.

Answer 4

Strange, isn't it? I read reports from some people who are always coming up with the odd £50 here and there!! With my luck, I'd be in the same position as you. Perhaps there's a big win coming along for you - let's hope so, you've waited long enough. You six quid wouldn't be worth so much now, so if a £50 win comes along you'll be quids in! Fingers crossed.

Answer 5

40 years ago your money was worth over 13 times more than it is today, and had you invested it at 5% you would now have £550.

But never mind, it was for a good cause. You have contributed towards making many winners much better off.

Answer 6

If it had been invested in a savings account, it would now be worth around £30. But then you'd have spent it years ago.

Answer 7

Had you put that in the bank instead, you'd probably have 30 or 40 quid now. In stocks, probably a grand depending upon the stocks.

Answer 8

i dont know but i have 2 pounds in post office book since 1983 it would be interesting to find out more

Answer 9

my dad bought some when they first came out
the number starts 1AN...........and has never won a penny, I think it must have been about 1958

Answer 10

have you notified them when you changed address because alot of people dont then they wonder why they never win anything, worth checking.