Premium Bonds look less attractive to punters
The National Savings and Investments which runs the Governments Premium Bonds system has now made it harder to win the most common prize of £100. The Government has cut it's prize fund and it now means that you have a 2.95 per cent chance of winning rather than a 3 per cent chance. If you have a single £1 bond your chance of winning remains the same, but if you have £100 of bonds the chance of winning £25,ooo has fallen from 11.3 million to one in 11.9 million. The blame in prize cuts has been put squarely at the door of additional investors who have forced up the cost of administrating the system. The total invested has gone up from £21 billion in 2003 to £31 billion. | 
