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Prize Bonds fund reduction

  • 07-01-2013 3:51pm
    #1
    Roger_007
    Registered Users, Registered Users 2 Posts: 21,886 ✭✭✭✭


    Have people realised yet the significance in the reduction of the prize fund for Prize Bonds, By leaving the top prize intact, they have reduced the fund for the smaller prizes by 30%. I had invested a considerable sum on the basis that I would get a return of about 2% over time from the smaller prizes, (€75). That was how it worked out and it was OK given that winnings are dirt-free and there was a very remote possibility that I could win a big prize. The likely return is now reduced to 1.3%. Time to take my money elsewhere methinks.


Comments

  • #2
    countrynosebag
    Registered Users, Registered Users 2 Posts: 147 ✭✭countrynosebag


    outraged by the reduction in prize bond winnings - should we be lucky
    we do not gamble, this is the nearest to it for the thrill of...well maybe and we feel the safety of knowing we have not thrown our money away
    also,
    the govt. bonds at 500 euro were set far too high - 50 euros for a smaller proportion would have been feasible here and there, there would have been a good take-up for that amount - birthday, christmas etc.
    so - again - going for the poorer section of the community that would just love the bit of hope in their lives just now
    is anyone thinking straight in the dail?
    try looking at the micro and not just the macro dublin.......................


  • #3
    justforgroups
    Registered Users, Registered Users 2 Posts: 164 ✭✭justforgroups


    Check out the "€25k in prize bonds" thread in the Investments forum...


  • #4
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭sandin


    Prize bond fund is made up of the interest earned on funds. Interest rate is at an all time low, hence the funds for prizes will also be low.

    When interest rates go up again, the prize fund will go up again.

    Surely if you have a "considerable sum" invested in prize bonds, you would have understood exactly how they work - the information is fairly easy to access.


  • #5
    P. Breathnach
    Registered Users, Registered Users 2 Posts: 12,089 ✭✭✭✭P. Breathnach


    Even though the probability of winning €1m is low, it is a tiny bit greater than zero. It makes no sense to disregard it when considering the value of prize bonds as an investment.

    The return on prize bonds is better than the national lottery. I regard it as a good-value punt for a possible €1m. I get to keep my stake and use it again.


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