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When is October’s Premium Bonds draw?
The October Premium Bonds draw typically takes place on the last working day of the month. For October 2025, the draw is scheduled for Friday, October 31st. This is when all eligible bondholders have a chance to win prizes, from cash sums to the jackpot. Make sure your bonds are registered and up to date to be included in the draw.
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How do I check if I’ve won?
Checking your Premium Bonds winnings is simple. You can visit the official NS&I website or use their mobile app to see if your bond numbers have been selected. You’ll need your bond number or reference details. NS&I also sends out notifications if you win, but it’s best to check regularly online to stay informed.
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What are the odds of winning with Premium Bonds?
The odds of winning with Premium Bonds depend on the total number of bonds in circulation. Currently, the odds are approximately 24,000 to 1 for each £1 bond per monthly draw. While the chances of winning the jackpot are slim, the overall return, considering all prizes, is effectively around 4% when factoring in all winnings, making it a popular savings and prize-winning option.
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How does the prize draw work?
Premium Bonds use a computer-generated random number process to select winners each month. Every £1 bond has an equal chance of winning, regardless of when it was purchased. The draw is conducted securely and transparently, with prizes ranging from £25 to £1 million. The process ensures fairness and gives all bondholders an equal shot at winning.
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Can I increase my chances of winning?
Yes, the simplest way to increase your chances is by buying more bonds. The more bonds you hold, the higher your chances of winning in each draw. Some people participate in syndicates or group buys to pool their bonds and improve their odds collectively. Remember, Premium Bonds are a form of savings with the chance to win, not a guaranteed investment.
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Are Premium Bonds a good investment?
Premium Bonds are popular because they combine the safety of government-backed savings with the excitement of a lottery. While they don’t pay interest like regular savings accounts, the effective return, including all prizes, is around 4%. They’re best suited for those looking for a secure way to save while having a chance to win cash prizes.