The winners of May’s NS&I Premium Bond prize draw might be introduced within the coming days, which can see a staggering complete of £330million up for grabs.

After the prize fund fee was raised from 3.15 % to three.3 % in February, over 5 million prizes have been paid out to Premium Bond savers final month, starting from values from £25 as much as two £1million prizes.

The odds of profitable, nevertheless, sit at 24,500 to at least one for each £1 bond, however there are methods for savers to extend their possibilities.

How to spice up possibilities of profitable Premium Bond prizes

While winners are chosen at random, there are methods to spice up the possibilities of profitable, and this includes topping up and shopping for extra bonds.

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Bonds may be purchased for £25 every and as much as £50,000 may be invested total. According to NS&I, every £1 bond quantity has an equal probability of profitable, no matter when or the place it was purchased.

Winning bond numbers are generated by NS&I’s Electronic Random Number Indicator Equipment (ERNIE), which has had a number of upgrades because it was first utilized in 1957.

An NS&I assertion reads: “Using light, ERNIE 5 generates random numbers that are matched against eligible Bond numbers to determine the lucky winners. And because it’s random, every Bond number, whether it has eight, nine, 10 or 11 digits, has a separate and equal chance of winning a prize.”

Following the announcement of April’s million-pound winners, Jill Waters, NS&I retail director, mentioned: “One of this month’s winners has won £1million with Premium Bonds after just 10 months, whilst the other waited nearly ten years to hit the jackpot.

“This just goes to show that, whether it is months or years, customers up and down the country can win big and feel the magic of Premium Bonds.”

Ms Waters added: “Buying Premium Bonds is a fun way to save as customers have the chance to win one of over five million prizes.

“With just £25, people can begin their Premium Bonds journey and can start saving today for a better tomorrow. Don’t forget to keep your contact details up to date so that Agent Million can find you.”

How to test in case you’ve gained a Premium Bond prize

People can test in the event that they’ve gained a prize by utilizing NS&I’s official prize-checking instrument, which may be accessed here. They’ll simply want their bond quantity to see the outcomes.

People may also obtain the NS&I Premium Bonds prize checker app, which is accessible on the Apple Store or Google Play, the place the identical info might be available.

Not solely will it present this month’s prizes, nevertheless it’ll additionally present the bondholder in the event that they’ve gained in any of the earlier six attracts, in addition to any older prizes that haven’t been claimed.

Currently, it’s thought that round £88.8million value of bond winnings are going unclaimed. This may be for quite a lot of causes, comparable to lacking present tackle particulars, which makes it key for folks to test their info is updated.

According to NS&I, one of the simplest ways to make sure prizes don’t go unclaimed is for savers to decide to have them paid straight into their checking account or mechanically reinvested into extra Premium Bonds. Savers can learn the way to do that here.

The subsequent NS&I prize draw outcomes might be accessible on May 3.