Martin Lewis debunks ‘complete falsity’ about Premium Bonds prize odds

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Martin Lewis has clarified the rules around Premium Bonds(Image: ITV)

Martin Lewis has busted a common myth about Premium Bonds as he explained why newer Bonds appear to win more prizes than older ones.
The financial expert, speaking on his BBC podcast, said each individual £1 Bond has exactly the same odds of winning — 21,000 to one — regardless of when it was purchased. Newer Bonds simply win more often because there are far more of them in circulation, as most Bonds were bought relatively recently.
Mr Lewis 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. However, the best way to boost your chances of a win is simply to hold more Bonds.
The same logic explains why certain regions of the UK appear to win more prizes – there are more Bonds held in those areas.