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Every month, savers have the chance to win big prizes as the Premium Bonds winning numbers are announced. There are now 24 million people taking part in the government-backed savings scheme, with ...
Premium Bonds is a lottery bond scheme organised by the United Kingdom government since 1956. At present it is managed by the government's National Savings and Investments agency. The principle behind Premium Bonds is that rather than the stake being gambled, as in a usual lottery , it is the interest on the bonds that is distributed by a lottery.
All prizes are tax free and, with approximately 84 billion bonds issued, the chances of any one bond winning a prize for a given month are approximately 24500 to 1. However, if a bond wins a prize, that bond is not redeemed but remains 'in the pool' for all forthcoming draws (at least until the bond-holder decides to redeem it.).
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In September 2009 the Prize Bond fund exceeded €1bn for the first time. [3] The weekly draw is held on Fridays at 12:30 in the General Post Office, Dublin. Prizes range from €75 to a jackpot of €50,000 except for the last draw of each month, when the jackpot is €500,000.
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