Premium Bonds odds will improve to the best level seen in nearly 15 years from August. Provider NS&I said there will be "more prizes, more excitement and more life changing wins" from the August prize draw, with prize fund rate increasing to 4.00% from 3.70% - its highest level since 2007.
The odds will improve to 22,000 to one from 24,000 to one. NS&I said the move means that each £1 bond will have its best chance of winning a prize in nearly 15 years.
It estimates that the changes will see an extra £30million added to the prize fund from August, with an estimated 460,000 extra prizes up for grabs. The estimated number of £1million prizes will remain at two, the same as in July.
