| UPDATED: 13:33, Thu, Jan 21, 2021
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Martin Lewis appeared today on BBC Radio 5 Live with presenter Nihal Arthanayake to discuss a whole host of money-related issues. He provided an important update for a wide range of banking customers who will need to keep an eye out for correspondence they’re set to receive soon. Martin informed listeners there is an important letter set to appear in the post for many, which contains a £50 cheque.
The key is what d someone with average luck win?
On the topic of winning prizes, Martin went on to examine the likelihood of success: Imagine everyone with the same number of bonds lined up in order of winnings - the one in the middle defines average luck (in maths, the median average). It s complex to work out exactly, so years ago I had our Premium Bond Probability Calc built. It uses multinomial probability to show your odds (I had to get a post-doctoral cosmology statistician to design it). It shows, currently with AVERAGE LUCK OVER A YEAR:
£100 of bonds wins NOWT - in fact, 29 in 30 with £100 win nothing.