Published On: Fri, Sep 27th, 2019

Premium Bonds: How many prizes will be in October 2019 prize draw? NS&I reveals estimate | Personal Finance | Finance

The Premium Bonds prize draw results for October 2019 are set to be announced in just a matter of days. Ahead of the October 2019 draw, NS&I has taken a look at what savers can expect from the upcoming month’s list of winners. According to the Prize draw details section of the NS&I website, it’s expected that the total number of prizes could stand at 3,372,702 in October. The total value of these prizes is an estimated £96,403,025.

This could include two winners of a prize worth £1 million.

There are also estimated to be six winners of a £100,000 payout, and 11 look set to scoop £50,000 each.

Another significant prize value which is up for grabs is £10,000 – with 56 numbers estimated to be selected for a prize of this value.

There are also expected to be 112 winners for a £5,000 prize.

The so-called prizes are assigned to Bond numbers, with Premium Bonds holders getting the chance of winning anywhere between £25 to £1 million per Bond.

The odds of winning for each unique Bond number stand at 24,500 to one.

While each Bond number costs £1, the minimum investment is £25.

There is also a maximum investment which is £50,000 per person.

The total prize fund in the September 2019 Premium Bonds draw was more than £96million.

When it came to the total number of prizes, this exceeded 3.3 million.

Some details about the high-value winners have been revealed on the NS&I website.

This includes the two lucky Premium Bonds holders who have scooped £1 million each.

Of the jackpot winners, one was from Surrey, while the other was revealed to be from Hertfordshire.

Premium Bonds are entered into the prize draw a full calendar month after they have been bought.

There are a number of ways to buy Premium Bonds and this includes online, by phone or by post.

READ MORE: How many Premium Bonds can I hold? What happens to Bond numbers that exceed upper limit?

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