But, while statistically every Premium Bond has the same likelihood to win, new research by OLBG.com has found that certain regions in the UK have far more winners than others.
We look at the places in the UK that are home to the most Premium Bonds winners in the last 12 months, as well as the statistically best months and years for Premium Bonds.
Where in the UK has the most Premium Bonds winners?
The UK county that is home to the most recent Premium Bonds winners is Essex, where 10,263 residents won a prize in the last 12 months.
Premium Bonds winners in Essex have scooped more than £30.2 million collectively in the last 12 months. Analysis suggests Premium Bonds holders in the county have a 4.04% chance of winning.
The reason for this will be a mix of luck and statistics.
While the Premium Bonds prize draw gives each individual bond the exact same chance of winning, the more money you hold in Premium Bonds, the more likely you are to be randomly selected.
For example if you hold the minimum investment in Premium Bonds of £25, you have 25 chances each month to be selected for a prize. Meanwhile, if you have the maximum investment of £50,000 you will have 50,000 chances to be chosen.
A spokesperson for NS&I told MoneyWeek: “Every £1 Bond has an equal chance of winning a prize each month – no matter where in the country the holder lives. ERNIE generates the winning numbers randomly and then we match them against eligible Bonds.
“If it seems as though more prizes are won by holders in a certain area of the country then it may be because there are more Bonds held there compared to other parts of the UK.”
NS&I’s spokesperson also noted that each month the Government Actuary's Department carries out an independent check to ensure that the prize draw is fully random.
Essex will therefore likely be leading the pack because it will have a large number of Premium Bonds holders when compared to other areas of the UK, while also sprinkling a good amount of luck into the formula.
The list of the Premium Bonds winner hotspots is dominated by the Home Counties, with Kent being second-best, Hampshire the third, and Surrey the fourth.
Interestingly, all of the top twenty UK regions for most recent Premium Bonds winners are in the south of England with the exception of Wales at number 11, and Lancashire at number 14.
A list of the twenty counties that are home to the most Premium Bonds winners in the past year can be found below:
Swipe to scroll horizontally
Rank
County
Number of Winners
Total Winnings (last 12 months)
Chances of Winning
1
Essex
10,263
£30,262,000
4.04%
2
Kent
9,216
£27,641,000
3.63%
3
Hampshire And Isle Of Wight
9,134
£26,728,000
3.60%
4
Surrey
8,493
£25,832,000
3.35%
5
Outer London
8,132
£26,352,000
3.20%
6
Inner London
6,820
£19,878,000
2.69%
7
Hertfordshire
6,753
£20,680,000
2.66%
8
Devon
6,352
£19,233,000
2.50%
9
West Sussex
6,015
£18,596,000
2.37%
10
Dorset
5,240
£14,766,000
2.06%
11
Wales
4,630
£12,624,000
1.82%
12
Buckinghamshire
4,357
£12,845,000
1.72%
13
Suffolk
4,293
£12,694,000
1.69%
14
Lancashire
4,153
£12,120,000
1.64%
15
Wiltshire
3,952
£11,355,000
1.56%
16
Hereford And Worcester
3,828
£10,387,000
1.51%
17
Cambridgeshire
3,716
£10,720,000
1.46%
18
Derbyshire
3,692
£10,405,000
1.45%
19
Gloucestershire
3,615
£12,645,000
1.42%
20
East Sussex
3,597
£10,779,000
1.42%
Source: NS&I, data analysed by OLBG
What is the best time to buy Premium Bonds?
Alongside crunching the numbers for which regions in the UK have been luckiest for Premium Bonds holders in the past 12 months, OLBG also found that Bonds bought in certain years and months have been more fruitful than others.
In the last 12 months, Premium Bonds bought in 2023 yielded the most wins across the UK, with a total of 32,771 winners.
The 2020s dominate the rankings, with all years in the decade being in the top five luckiest for Premium Bonds.
A table showing the ten years that have produced the most Premium Bonds winners can be seen below:
Swipe to scroll horizontally
Rank
Year
Number of Winners
1
2023
32,771
2
2021
30,562
3
2020
26,869
4
2022
25,507
5
2024
25,071
6
2019
14,741
7
2018
12,785
8
2017
11,964
9
2016
11,794
10
2015
10,483
Source: NS&I, data analysed by OLBG
As well as data on the luckiest years, OLBG has found that bonds bought in January have been the most fruitful for their holders in the last 12 months.
Premium Bonds purchased in the first month of the year have won 23,408 times, while the month that has produced the second-highest number of winners is October with 23,317 winning bonds being purchased that month.
Conversely, the unluckiest month for Premium Bonds in the last year was December, where just 17,347 bonds purchased in that month have resulted in prizes.
As NS&I’s Premium Bonds prize draw is fully random each month, the reason that some years and months are luckier than others is just that – luck.
A table showing which months have produced the most Premium Bonds winners can be found below:
Swipe to scroll horizontally
Rank
Month
Number of Winners
1
January
23,408
2
October
23,317
3
March
22,570
4
July
21,667
5
June
21,554
6
August
21,262
7
November
21,253
8
September
20,824
9
February
20,691
10
April
20,586
11
May
19,377
12
December
17,347
Source: NS&I, data analysed by OLBG
When are Premium Bonds winners announced?
NS&I publishes details about the latest high-value Premium Bonds prize winners on the first working day of each month.
The following day, all Premium Bonds holders are able to check whether they won that month using NS&I’s prize checker tool.
Buying Premium Bonds is quite easy, with there being multiple methods for you to enter the monthly prize draw. You can buy Premium Bonds through the NS&I website, over the phone or by post.
To apply over the phone, call NS&I for free on 08085 007 007.
To apply by post, print and complete an application form and return it with a cheque payable to NS&I. Further instructions and the application form can be found on the NS&I website.
It is also possible to buy Premium Bonds as a gift for a child. The parent or guardian named on their application looks after the child’s bonds until their 16th birthday, regardless of who bought them.
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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.
Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.
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