€25k invested in prize bonds

Hibernicis

Thanks @POBox19

That makes a lot of sense in the context of the market. Presumably people moving money to fixed term while rates of 3%+ are still available. And some strong demand offers out there as well. Even with the advantage of being free of DIRT, PB's miserly 1% (which is .75% approx in real terms) looks pretty poor.

notsocutehoor

€75 win this week, last win 8/3/2024, third win this year

Prize Bond bought July 2020

Winnings to date (no winning records kept pre 2005) €2,625 on €12,700 (including reinvestments) worth of PB's bought monthly over a 26/27 year period plus €20,000 bought in Feb 2016 (eight €50 wins and two €75 wins on the February 2016 purchase), plus €20,000 bought in July 2020 (four €50 wins and one €75 win on the July 2020 purchase), plus €30,000 bought in October 2020 (three €50 wins and one €75 win on the October 2020 purchase).

Winnings 2011 €75

Winnings 2012 €150

Winnings 2013 €200

Winnings 2014 €100

Winnings 2015 Zero

Winnings 2016 €200

Winnings 2017 €250

Winnings 2018 Nada, Zilch, SFA

Winnings 2019 €250

Winnings 2020 €150

Winnings 2021 €150

Winnings 2022 €100

Winnings 2023 €275

Winnings 2024 €225 (and counting)

Here's to next Friday

carrickbawn

75 for me yesterday. Same batch again. I have had 5 wins since last July,all from that batch.

Nothing from bigger batches that I had up to recently. I mentioned before that that serial number seems to consistently have alot of winners. Last week it had 20. 16 from Dublin and 4 for the rest of the country.

Strange🤔

dxhound2005

Simon Bourke© Wexford People Today at 10:48.

A prize bond holder from Co Wexford is €50,000 richer this morning after their bond was picked out of the hat in the weekly prize bond draw. The lucky bond was purchased in 2022 and has the number BBQ980950.

Would be from late September 2022. Someone in America also had a bit of good luck.

Prize Value Winning Prize Bond Location

€75.00 AZY438804 U.S.A

€75.00 AZY438807 U.S.A

POBox19

They'll have a very nice BBQ with that prize.

dxhound2005

Premium Bonds reduced their rate in March from 4.65% to 4.40%. First reduction since December 2020. They did nine changes since. Looking at the historical rates since 2008, they seem to have gone a bit mad in the last three years with their rates. Used to leave them unchanged for longer, and not too much variation.

https://www.nsandi.com/historical-interest-rates

POBox19

Yes, and still 4.4 times the return of prize bonds and keeping the odds at 21,000:1 for a £1 bond. The investment to get to 1:1 is £21k. It’s great to see that NS&I are quite open about returns and odds of winning in their draws.

A iron curtain of corporate marketing speak comes down around State Savings anytime I ask about odds. With prize bonds currently I estimate the equivalent monthly figure is close to €115k or 18,500 bonds at €6.25 each.

dxhound2005

According to Martin Lewis, it is not so straightforward. And it is only able to report typical luck, which anyone can also do for Prize Bonds. For the €75 prizes, with no complication from any other small prize amounts.

https://www.moneysavingexpert.com/savings/premium-bonds/

On the surface, Premium Bonds don't look complex. NS&I happily lists the chance of one bond winning a prize in a month (1 in 21,000) on its website.

Yet to calculate the odds of winning certain prize levels accurately, you need to use something called 'multinomial probability'. After all, to work out the chance of someone winning £200 a year, they could win 2 x £100, 8 x £25, 4 x £50, or a host of other variants. This multitude of probabilities means accurate calculation is hellish.

Back in 2012, I set myself a challenge to do it. I failed. I got one of my team with a top maths degree to try. He failed. We contacted a London School of Economics professor of financial mathematics – she knew how to work it out, but she needed a specialist to do it for her.

Eventually we tracked down a postdoctoral cosmology statistician (someone who calculates star movements) who had the requisite probability skills, and he wrote us an algorithm to build a calculator. We've since refined and updated it in light of changes to the distribution of the prizes, and have recently launched a new version of the Premium Bonds Calculator.

This allows you to plug in how many bonds you have, and it will predict your likely winnings and compare them with savings. It proves that at every value, someone with typical luck will earn less than the quoted prize rate.

The odds in the calculator are based on the prize distribution for the most recent draw; it does change slightly each month. So even with all the great maths, even this should only be seen as a very good estimate.

POBox19

@dxhound2005 I saw that a while back and the calculator could keep one engaged ;)

At the end of the day both systems are a game of chance. It's a gamble and we just hope to come out on the right side with a good win. Otherwise we'd be tucked up in a nice 1 year 3.5% fixed term waiting for the returns notification to land in the inbox.

cobham

I have UK bonds x 4 since 1950's ( I am that old yes) and won once c 1967 = £25. Surely my luck should come round again?

pbwinner

Winnings on 12th April 2024: €0

Last win 7th July 2023: €50

Total winnings on €25k from Feb 2011 to date: €3300

2011: €75 x 4 = €300

2012: €75 x 6 = €450

2013: €50 x 12 = €600

2014: €50 x 9 = €450

2015: €50 x 5 = €250

2016: €50 x 5 = €250

2017: €50 x 4 = €200

2018: €50 x 2 = €100

2019: €50 x 6 = €300

2020: €50 x 5 = €250

2021: €50 x 1 = €50

2022: €50 x 1 = €50

2023: €50 x 1 = €50

2024: €0 x 0 = €0

The Continental Op

https://www.boards.ie/discussion/comment/122007578#Comment_122007578

No ;-)

Try one of the many online calculators https://www.candidmoney.com/calculators/national-savings-premium-bond-calculator

anewme

€75 for me today, first win since October 2020.

willycat

https://www.boards.ie/discussion/comment/121980186#Comment_121980186

Actually it's even worse, because you have available options now for savings in Ireland with way better returns AND instant access accounts. I am one of those who moved money to other options like the ones below.

N26 is offering 2.8% AER (4% if you pay for the Metal tier) in its savings account, which is awesome, and comes with instant access so there's no need to lock your money for a specific timeframe, and the interest is paid monthly (which helps compound). No limits in regards of how much you want to put there. 4% in instant access accounts instad of fixed term accounts is really good. PM me for a referral code if interested.

Other non-banking institutions like Trade Republic also offers 4% AER with almost-instant access (2-3 business days). Max 50K. Can provide referral code for TR too.

I use both (N26 since they opened in Ireland like 4-5 years ago) and they work well! I use N26 for my daily banking too, I had enough of PTSB's nonsense increasing fees.

dxhound2005

There are better returns available in the UK than is offered by Premium Bonds. But Premium Bonds have stood the test of time since the 1950's just like Prize Bonds have. There is no need to be concerned on behalf of the tiny tiny amount of money which people put into Prize Bonds.

Worry more for the €150 billion in current account type bank accounts getting next to nothing in interest. Or the multiple of the Prize Bonds amount in Credit Unions, who won't even declare what interest rate they are paying until the end of the year. Beyond redemption are those who simply abandon vast sums in Dormant Accounts. Or who don't bother collecting Lottery prizes of about €20 million every year.

People in Ireland who managed to buy Premium Bonds may also have bank accounts in England. Some accounts offer a prize draw as well as interest. They must have spotted a niche in the market for people who like this sort of product.

https://heymoneytalk.co.uk/focus/growing-wealth/savings-accounts-with-a-bonus-prize-draw/

dxhound2005

Nothing for me today.

AFR828842 also won €75 in Carlow. So someone probably €50,075 better off.

Lucky Carlow winner scoops €50,000 with Prize Bonds

The lucky bond number is held in Carlow and was purchased in 2016

One lucky Carlow person has won €50,000 through Prize Bonds.

Aisling Bolton-Dowling Today at 15:42 (Independent).

The weekend is off to a great start for one lucky Carlow person who has scooped an impressive €50,000 with Prize Bonds. This week’s Prize Bond Star Prize of €50,000 goes to Prize Bond number AFR834912, held in Co Carlow. The lucky bond was purchased in 2016.

Sligo Quay

https://www.boards.ie/discussion/comment/121950038#Comment_121950038

Thank you, sign up today and posted the form off.

Sligo Quay

https://www.boards.ie/discussion/comment/122010985#Comment_122010985

What do you reckon, another person with a big holding, winning €75 and the star prize €50k.

Anyway I see our big Greek holder won another €75 today and as usual nothing for guess who, yeah you guess correctly.

I live in hope, I dream big and there's always next Friday.

dxhound2005

AFR numbers around that range won on 10 November 2023, 24 November 2023 and 23 February 2024. All in Carlow. So it must be someone there with a big bunch.

We can only look back 26 draws with location details. But we can see all winners going back four years. 10,000 bonds AFR825000 to AFR835000 won 22 prizes in four years.

Hibernicis

€75 for me today

tuisginideach

nothing

TabbyLongTails

everyone, do yourself a favour and put your prize bond money in to trade republic or Lightyear and get 4% a year, prize bonds are just a lottery ticket that doesn’t win

Hibernicis

I was only thinking the other day that it's been some time since we had any of this unasked for advice.

Yeild/Return is just one of the factors involved in any investment decision. When other factors are taken into account, prize bonds (along with other state savings products) can make sense for a portion of a balanced investment portfolio. PB can also be a useful holding place for money on a short to medium term basis, especially where it may be required at short notice.

I'd be particularly slow about putting money in the two outfits you are recommending, as they are not banks and do not benefit from either State Guarantees or DGS, and what alleged guarantees they do have are relatively low.

sportsfan90

https://www.boards.ie/discussion/comment/122029795#Comment_122029795

Agreed. Nobody here is saying go to State Savings for the best returns. I’d wager most people who contribute to this thread have money invested elsewhere and whatever portion they have in PBs is just one element of their portfolio.

At the risk of derailing the thread, what is the issue with Trade Republic with regards to DGS?

Montage of Feck

https://www.boards.ie/discussion/comment/122028917#Comment_122028917

But a lottery ticket that you can get a full refund on, state guaranteed.

Happyhouse22

Want to cash in prize bonds but don’t have a bank account.in Ireland at the moment.

Is it possible to get it paid by cheque?
Or even better a family member’s account?

Hibernicis

@sportsfan90

At the risk of derailing the thread, what is the issue with Trade Republic with regards to DGS?

Don't want to derail the thread, however this has been discussed a lot in the past. You might find this interesting: https://www.reddit.com/r/irishpersonalfinance/comments/16p5s8t/trade_republic_deposit_guarantee_scheme_doubts/

Hibernicis

https://www.boards.ie/discussion/comment/122029860#Comment_122029860

Cheque repayment is no longer an option.

If you have a State Savings Online account, the repayment will be paid to whatever bank account is listed on that. Otherwise, you fill in a repayment form per the following:

Prize Bonds repayment

Prize Bonds can be cashed in at any time after an initial holding period of 90 days and transferred to your Bank Account.

Simply complete a repayment form available here or at any Post Office and send it with:

the Prize Bond certificate* AND

a copy of a bank statement verifying the account name(s) and IBAN to:

State Savings, Prize Bonds, Fexco Centre, Killorglin, FREEPOST, Co. Kerry, V93 WN9T.

* It is optional to return the original Prize Bond certificates with the form. If you are not returning the original Prize Bond certificates please complete the relevant details on the form.

Source: https://www.statesavings.ie/help-support/help-articles/withdrawal-request-repayments

tuisginideach

€75 today

pbwinner

Winnings on 19th April 2024: €0

Last win 7th July 2023: €50

Total winnings on €25k from Feb 2011 to date: €3300

2011: €75 x 4 = €300

2012: €75 x 6 = €450

2013: €50 x 12 = €600

2014: €50 x 9 = €450

2015: €50 x 5 = €250

2016: €50 x 5 = €250

2017: €50 x 4 = €200

2018: €50 x 2 = €100

2019: €50 x 6 = €300

2020: €50 x 5 = €250

2021: €50 x 1 = €50

2022: €50 x 1 = €50

2023: €50 x 1 = €50

2024: €0 x 0 = €0