Premium Bonds prizes: 13 nostalgic photos from biggest wins, Miss Premium Bonds and ERNIE machine that made dreams come true

NS&I started the prize winning investment scheme back in 1957 and the whole nation jumped onboard with the dream of transforming their lives by winning big.

Unlike its more recent competitor the Lottery, Premium Bonds can pay out multiple times without having to pay more. In fact, one lucky win has been handed more an incredible 408 times. Many people have also won the top prize of £1million, although winning the smallest prize of £25 is much more likely.

The system has always relied on an audited random number generator pick the winning numbers which makes the odds of winning 24,000 to 1 for every £1 held in bonds.

Nowadays, everyone dreams of winning the Lottery but my childhood was filled with my mum saying ‘if my Premium Bonds come up’. Here’s a look back through our archives at the money making phenomenon which still makes millionaires today.

ERNIE was the hardware random number generator. The first ERNIE was built at the Post Office Research Station by a team led by Sidney Broadhurst. This is Mrs Pat Jobling of Blackpool, a machine operator for 3 years at ERNIE, pictured on the new glamorous chrome and all polished ERNIE, toasting it in champagne.

Ernie the Premium Bond Computer, 1956. The designers were Tommy Flowers, and Harry Fensom and it derived from Colossus, one of the world's first digital computers.

Mrs Elizabeth Jeffery of St Annes, a cleaner at ERNIE for 31 years, retires in May 1973. She is pictured with the old ERNIE, toasting its farewell in brown ale.

Have you ever won big on the Premium Bonds or have childhood memories of it? Have you got a story you want to share with our readers? You can now send it to us online via YourWorld at https://www.yourworld.net/submit/ It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers.