Post Office Bonus Bonds

Press, Volume CIX, Issue 32235, 2 March 1970, Page 12

Post Office Bonus Bonds

Sir, —Would I be correct in j saying that your chances of winning a prize are 16,296 toj > 1, and even then your prize; would probably be only a 810; one. Your chances are six! I million to one on winning the I first prize. Would someone' 1 from the appropriate depart-i ment please tell me I am | wrong in these calculations? ! Otherwise 1. shall remain. . . . j—Yours, etc., I ADDINGTON ADDICT. I February 24. 1970. I [The Director-General of the Post Office (Mr G. Searle) i replies: “The position is that, (the precise chances of a 81 i unit winning a prize in a i draw will be influenced by the I response to the' scheme and

by the number of draws in which the unit participates. It is recognised that the chances of a $1 unit winning a prize will not be as great as lin some lotteries, but it is i important to remember that the amount which will be contributed to a monthly draw by a $1 unit will be very small—only l/3rd of a cent—and that the bond unit will take [part in monthly draws for as Jong .'. as the bondholder : wishes. A special feature of (the scheme is, of course, that will be able to i get their money back when I they want it,"]