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I'm done with the lotto! Going to buy prize bonds instead

  • 08-08-2015 11:37am
    #1
    amdublin
    Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭


    So I nevvvvver used do the lotto but over the past year I started to the point of becoming addicted and obsessed with it twice a week.


    And of course every time I didn't win I was mad with myself for literally "throwing €4 away".


    So with this upcoming price increase I've decided I am going to stop doing it.


    Instead I am going to invest the money I would spend in a year (€250) on lotto upfront and into prize bonds. At a minimum at least my investment is always there.


    (a) any thoughts
    (b) how do I go about purchasing prize bonds


Comments

  • #2
    Crunchienut
    Registered Users, Registered Users 2 Posts: 1,289 ✭✭✭Crunchienut


    I've been doing the same for a while now and it's amazing how quickly it builds up. You can set up a standing order or make one off purchases online or in a Post Office. Money Laundering regulations apply so you will need ID as if opening a bank account. All the info you need is here - good luck!

    http://www.statesavings.ie/PrizeBonds/Pages/HowToPurchase.aspx


  • #3
    amdublin
    Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭amdublin


    Fantastic crunchinut exactly what I need. And good luck to you too!


  • #4
    amdublin
    Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭amdublin


    Ps. Anyone had any wins? of any size?


  • #5
    LeinsterDub
    Registered Users, Registered Users 2 Posts: 8,229 ✭✭✭LeinsterDub


    http://touch.boards.ie/thread/2056292513/182


  • #6
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    http://www.boards.ie/vbulletin/showthread.php?t=2056292513


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  • #7
    amdublin
    Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭amdublin


    Application being posted tomorrow. I'm very excited about the thought of my money always being there as compared to the lotto - GONE.


  • #8
    ScottStorm
    Registered Users, Registered Users 2 Posts: 364 ✭✭ScottStorm


    amdublin wrote: »
    Application being posted tomorrow. I'm very excited about the thought of my money always being there as compared to the lotto - GONE.

    That sums up the benefit, they reduced the winnings of the prizebonds recently too, I have about 2g worth or so and have never won a cent.


  • #9
    amdublin
    Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭amdublin


    ScottStorm wrote: »
    That sums up the benefit, they reduced the winnings of the prizebonds recently too, I have about 2g worth or so and have never won a cent.



    Exactly.


    So you've never won a cent but at least you have your 2g. Lotto - you'd probably (on the basis of the odds) never have won either but your 2g would be long gone.


  • #10
    ScottStorm
    Registered Users, Registered Users 2 Posts: 364 ✭✭ScottStorm


    amdublin wrote: »
    Exactly.


    So you've never won a cent but at least you have your 2g. Lotto - you'd probably (on the basis of the odds) never have won either but your 2g would be long gone.

    And had I left it in a savings account I would have earned x amount in interest, such are the choices we make. I agree it is better than the lotto.


  • #11
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,471 Mod ✭✭✭✭Ciarrai76


    I've had prize bonds for about 18 years now and I haven't won a cent yet!


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  • #12
    deathtocaptcha
    Registered Users, Registered Users 2 Posts: 349 ✭✭deathtocaptcha


    Ciarrai76 wrote: »
    I've had prize bonds for about 18 years now and I haven't won a cent yet!

    The odds are based on how many bonds you have though.. if you have €50 worth of bonds and there's €2b bonds in total, your odds of winning anything are 1 in 40 million. For comparison, your odds of winning the lotto are about 1 in 8.1 million.


  • #13
    vickers209
    Registered Users, Registered Users 2 Posts: 1,478 ✭✭✭vickers209


    http://www.boards.ie/vbulletin/showthread.php?t=2056292513


  • #14
    honeybear
    Registered Users, Registered Users 2 Posts: 5,648 ✭✭✭honeybear


    amdublin wrote: »
    Ps. Anyone had any wins? of any size?

    I'm coming up to a year of owning Prize Bonds. Tbh, the return is pretty pathetic but, it's a bit of fun checking your numbers online every Friday-I long to see the star beside my county...here's dreaming! There's a great thread about guys that have 100,000+ invested-they update us every week on their winnings. I think that a lot of the owners seem to be disappointed by the returns. When you know your up against that kind of investment, it puts my chances into perspective. Hope you strike it lucky amdublin!


  • #15
    Addle
    Registered Users, Registered Users 2 Posts: 4,812 ✭✭✭Addle


    honeybear wrote:
    it's a bit of fun checking your numbers online
    Do you have to check?
    I thought you were automatically notified if you won something?


  • #16
    honeybear
    Registered Users, Registered Users 2 Posts: 5,648 ✭✭✭honeybear


    Addle wrote: »
    Do you have to check?
    I thought you were automatically notified if you won something?

    Oh sorry. You do get notified the following week-my Mam greeted me waving the very obvious winner! I pre-empted her expectations as I knew I had "only" won 50euro...She had visions of something better!


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