UK Premium Bond prizes cut by almost £8m

Millions of premium bond holders were dealt a blow today after their chances of winning a prize were cut and the monthly prize fund slashed by nearly £8 million.

Millions of premium bond holders were dealt a blow today after their chances of winning a prize were cut and the monthly prize fund slashed by nearly £8m.

National Savings & Investments (NS&I) said the odds of any £1 bond winning would widen from 24,000 to 1 to 26,000 to 1.