Likelihood of winning to decrease after NS&I cut the proportion of the total invested amount paid out in prizes

There was some bad news this week for Britain’s 22 million-strong army of premium bond holders: the odds of winning a prize are to get worse.

National Savings and Investments (NS&I) says it is cutting the proportion of the total invested amount paid out in prizes from 3.6% to 3.3% a year with effect from April’s draw.