Martin Lewis has clarified a common misconception about Premium Bonds, explaining that newer Bonds do not actually have better odds of winning than older ones. Speaking on his BBC podcast, the financial expert confirmed that every individual £1 Bond carries exactly the same chance of winning — 21,000 to one — regardless of when it was purchased.
Why newer Bonds appear to win more often
Mr Lewis explained that newer Bonds simply win more frequently because there are far more of them in circulation, as most Bonds were bought relatively recently. He said: "The idea that if you were to sell your old bonds and re-buy the same number of new Bonds, that you would now win more often is a complete falsity. Every Bond has exactly the same chance."
Despite the equal odds, some long-standing Bond holders with small holdings sometimes land big wins. One person from Brighton and Hove recently scooped a £5,000 prize for a Bond they bought back in July 1960.
How to boost your chances of winning
According to Mr Lewis, the best way to increase the likelihood of a win is simply to hold more Bonds. The same logic also explains why certain regions of the UK appear to win more prizes — those areas simply have more Bonds held within them.
The Premium Bonds prize draw takes place at the start of each month.
