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Calculating probabilities for Premium Bonds winnings

Published online by Cambridge University Press:  01 August 2016

David Hopkins
David Hopkins*
Affiliation:
38 Lausanne Road, London N8 0HN
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Extract

A correspondent raised a question concerning Premium Bonds. (See page 459 of the November 1992 Gazette.) He had held 10,000 bonds for 2 years without winning a single prize and wondered how likely this was. In this note, I will describe a simple method for calculating the probabilities of winning. I will also look at the effects of some recent changes in the Premium Bond rules.

Type
Research Article
Information
The Mathematical Gazette , Volume 78 , Issue 482 , July 1994 , pp. 149 - 156
Copyright
Copyright © The Mathematical Association 1994

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