What are your odds of winning a prize with Premium Bonds following the latest prize rate cut? Read on to see your chances of bagging each prize in the monthly draw, depending on how much you have invested.
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We finally know the odds of winning a game of solitaire. Technology 17 November 2019. Get the latest odds, spreads and betting lines from this week's games, as well as full coverage of the National Football League from USA TODAY. On the other hand, what if the odds that Kamala Harris will win the election are +135. If you bet $100 on Harris to win, you win $135 and get back the original $100 bet. When the 2020 election odds are +135 that means oddsmakers give the Democrats a 42.55% chance of winning the election. The return on the wager is higher.
- Odds correlate to the probability of a team winning, which is the implied probability. A -140 favorite has about a 58.34% chance of winning, while a +120 underdog has a 45.45% chance. Did you notice those percentages add up to more than 100%? That’s because of the vig, which is a sportsbook’s cut for facilitating your bet.
- Side: The side refers to the point spread. While the odds can fluctuate, most sides are -110, meaning you have to bet $110 to win $100. Cowboys -7 -100.
Your Premium Bonds winning odds
Your odds of winning anything with your Premium Bond holdings have just gotten a lot longer.
That's because the Premium Bond prize rate has been cut from 1.4% to just 1%.
As a result, each individual £1 bond now has a one-in-34,500 chance of winning any prize, compared to one-in-24,500 in the November draw (the last before the cut).
The next section takes a look at your latest odds of bagging each of the various Premium Bond prizes, but first, make sure you check our regularly updated Premium Bond winners article to find out if you've already won big.
The odds of winning each prize in the Premium Bonds draw
Here’s how prizes were distributed in the December 2020 draw (the distribution of prizes changes each month to keep the odds of winning any prize the same) along with what the odds were of winning each prize for a holding of a single £1 bond.
Since we last updated this article with the September draw odds, it’s become more difficult to bag the top prize.
The odds are also worse compared to September, particularly as the number of prizes awarded has been significantly cut.
Prize value | No. of prizes | Odds of winning with a £1 bond |
£1,000,000 | 2 | 1 in 49.48 billion |
£100,000 | 4 | 1 in 24.74 billion |
£50,000 | 9 | 1 in 10,994 million |
£25,000 | 17 | 1 in 5,820 million |
£10,000 | 42 | 1 in 2,356 million |
£5,000 | 86 | 1 in 1,150.61 million |
£1,000 | 1,648 | 1 in 60.04 million |
£500 | 4,944 | 1 in 20.01 million |
£100 | 26,795 | 1 in 3,692,939 |
£50 | 26,795 | 1 in 3,692,939 |
£25 | 2,807,840 | 1 in 35,241 |
Any prize | 2,868,182 | 1 in 34,500 |
Source: NS&I
Could you increase your odds of winning?
We’ve now established that it’s hard for a single bond to win even a £25 prize, let alone any of the top awards.
So, what can you do to increase your chances of winning?
Point Spread Probability Winning
Live in the south of England is one often-trumpeted solution.
But there are only more winners down south because more people live there, and more of them hold Premium Bonds.
So, statistically, there are likely to be more winners from there.
For more demystifying check out: Premium Bonds: common myths busted and have a read about how the Premium Bond winners are chosen.
In fact, the only way you can boost your chances of winning more prizes is to simply buy more Premium Bonds, so don't believe anyone who claims to have a trick or secret strategy.
This is because each prize-winning Bond number is selected randomly by ERNIE (which stands for Electronic Random Number Indicator Equipment), so there is no way to beat the system.
- Where to Bet:
How to read Super Bowl 55 Odds
The Kansas City Chiefs wil meet the Tampa Bay Buccaneers in Super Bowl 55 from Raymond James Stadium in Tampa, Florida on Feb. 7, 2021.
The Chiefs opened as -3.5 betting favorites while the Buccaneers are 3.5 underdogs.
After early wagers came in, most operators are holding Kansas City -3 (-120).
If you were to wager on Kansas City -3, you would have to lay 5/6 odds (Bet $120 to win $100) instead of your normal 10/11 juice (Bet $110 to win $100).
The return on Tampa Bay would be even-money (1/1) and a $100 wager would return $100.
The total or over-under on Super Bowl 55 is hovering between 56 and 57 points.
How to read NFL Las Vegas Odds
The point-spread was developed to provide a balance for both teams involved in a contest to entice bettors to potentially back the weaker team and receive points. The two squads in a game are listed with a title, either a favorite or an underdog. The favorite is usually the perceived better team in the game, as backing them means giving up several points.
The favorite is always listed with a minus (-) sign before the point-spread while the underdog is labeled with a plus (+) label.
Ex. Favorite -10, Underdog +10
On the VegasInsider.com odds page, there is another number associated with the favorite and its listed as -10. This number is simply defined as “vig” or what many in the sports betting industry call vigorish. Another common term is called “juice” and it’s technically the price the bettor has to pay on a straight wager.
Ex. Bet $110 to win $100 (10% juice)
Ex. Bet $100 to win $90.91 (10% juice)
It's not uncommon to see other values posted other than -10. Examples seen on the NFL Vegas Odds pages could include -08, -12, -15 and -20. The -10 price is the most common value in the industry while many books offer reduced 'juice odds' and that would fall into the -08 category.
The lower-juice sportsbooks are normally found outside of the state Nevada. If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets.
Another number that’s posted on the NFL Las Vegas is the total or ‘over/under’ for the specific matchup. If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites.
All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Las Vegas Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time.
NFL Open Line
One of the best features on the NFL Vegas Odds is the Open Line. This numbers consists of the first betting line received from one of our Las Vegas or Global Sportsbooks. The opening line varies depending on the sportsbook but it provides a clear-cut rating that the oddsmakers use. If you’re betting on the NFL or any other sport, it’s a great idea to view the open line first.
VI Consensus NFL Line
The VegasInsider.com Consensus NFL Line is just as important as the Open Line and also a key resource on odds platform. The Consensus column could be called a “Median Line” since it shows the most consistent number provided by the sportsbooks on VegasInsider.com. The consensus line will be the same as the open line but once the wagers start coming in, this number is often different than the openers.
How do I bet on the Super Bowl?
We know that you can bet on the Super Bowl and all of NFL Futures or bet on the NFL Draft at any time of the year, but what’s the process? The future wager or the “Odds to Win” bet on the Super Bowl is correctly selecting a team to win an event that takes place at a later time. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. In the case of the Super Bowl, you’re not a winner or loser until you see zeros on the clock in the final game.
Most sportsbooks offer different ways to read to Super Bowl Odds. In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered.
Ex. Green Bay (8/1) to win the Super Bowl
The Packers are listed as an 8/1 betting choice to win the Super Bowl. If you wager $100 on Green Bay to win the NFC and they capture the championship, then you would win $800 (8 ÷ 1 x 100). Your online betting account would then credit your account $900, which includes your win and stake ($100).
The American Format would see Green Bay listed at +800 and for the Decimal Format, the Packers would be 9.00.
Point Spread Probability Winning College Basketball
If you are in a state where online betting is legal, we encourage you to check out our sportsbook directory to find the most trustworthy and reputable sites and mobile apps to place your Super Bowl bets.