Martin Lewis debunks common Premium Bonds myth as ‘absolute nonsense’

Martin Lewis debunks common Premium Bonds myth: 'Absolute nonsenseSource: ITV

Transcript

00:00I'm looking to buy a premium bonds if I were to buy say a total of ten thousand pounds

00:04is it best to buy the whole block or separates of five hundred pounds or a thousand pounds

00:08there are a huge number of myths out there about premium bonds that people in different parts of

00:13the country win more than others the older bonds are better than newer bonds they are all absolute

00:18nonsense every one pound bond is entered into a prize draw and has exactly the same chance as

00:27every other pound bond whether that pound bond was bought in 1963 or it was bought in 2024 it does

00:33not matter so you buy ten thousand in one go because that's administratively simple and it will

00:38have exactly the same chances the reason some areas win more than others is because there are more

00:42people with bonds in them the reason people with bigger who have more savings win more often is

00:46because they've got more bonds it is just a pure random chance lottery draw there is no clever way

00:51that you can beat it well except probably by putting your money in a cash ice as i said earlier

00:55but that's a slightly different argument