Premium Bonds odds of winning
Each £1 Bond has a 1 in 22,000 chance of winning a prize in every monthly draw. Hold more Bonds and your chance of winning something goes up — here’s how it looks by holding.
| Holding | Win ≥1 prize / month | Win ≥1 prize / year |
|---|---|---|
| £100 | 0.5% | 5.3% |
| £500 | 2.2% | 24% |
| £1,000 | 4.4% | 42% |
| £5,000 | 20% | 93% |
| £10,000 | 37% | 100% |
| £25,000 | 68% | 100% |
| £50,000 | 90% | 100% |
Based on odds of 1 in 22,000 per £1 per month (from the July 2026 draw (was 3.30% / 1-in-23,000 to June 2026)). Verified 2026-06-10 · Source: NS&I.
👉 Want the £ figures too? Use the Premium Bonds Calculator to see your expected and typical annual prize, and compare against a savings account.
How the odds work
Premium Bonds odds are fixed per £1: 1 in 22,000 per Bond, per draw. Your overall chance of winning at least one prize in a month is 1 − (1 − 1/22,000)holding, and over a year we compound that across 12 draws. That is exactly what the table above shows.
Frequently asked questions
What are the odds of winning Premium Bonds?
Each £1 Bond has a 1 in 22,000 chance of winning a prize in each monthly draw (from the July 2026 draw (was 3.30% / 1-in-23,000 to June 2026)). The more Bonds you hold, the more entries you have, so your chance of winning at least one prize rises with your holding.
Do bigger holdings have better odds?
Per £1 the odds are the same, but holding more £1 Bonds means more chances each month, so the probability of winning at least one prize goes up — though the average return stays at the prize-fund rate.
Are the odds the same as the return?
No. Odds are your chance of winning anything; the prize-fund rate (currently 3.80%) is the average payout across all Bonds. Most people win less than that average because a few large prizes lift it.