In Britain, premium bonds are numbered tickets that are sold by the government. Each month, a computer selects several numbers, and the people whose tickets have those numbers win money.
premium bond in British English
(ˈpriːmɪəm bɒnd)
noun
British premium bonds
Examples of 'premium bond' in a sentence
premium bond
And the risk is far less than from putting back the money into premium bonds.
Times, Sunday Times (2009)
He had a chunk of inheritance money but premium bonds were about as risky as his portfolio got, and they paid out a pittance.