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€25k invested in prize bonds

1118119121123124195

Comments

  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    Nothing for me today. The 2019 Annual Report is on the website. There will probably be newspaper reports about it in the next couple of weeks.

    The fund at 31 December was €3.655 billion, up 7%. If every bond was worth €6.25 that would be 584.8 million bonds. But probably about 4% of bonds at 31 December were worth €6.35 so that would make it slightly fewer. The biggest monthly sales were January €55.259 million.

    https://www.statesavings.ie/media/pdf/prizebonds_annualreport_2019.pdf

    As we know there have been abnormally high sales this year, so the fund would probably be around €3.8 billion now.


  • Registered Users Posts: 714 ✭✭✭Agent Smyth


    It's very easy to calculate what the fund value is at the end of each month
    This is because the prize fund is .5% of the total fund


  • Registered Users, Registered Users 2 Posts: 1,694 ✭✭✭Hibernicis


    It's very easy to calculate what the fund value is at the end of each month
    This is because the prize fund is .5% of the total fund

    So is it ((wpf*(365/7)+1,900,000)/i) where wpf is the weekly prize fund and i is the declared interest rate ? The 1,900,000 is the uplift for the prizes in the last weeks of June and December.

    The above gives the following result based on yesterday’s prize fund of €328,400

    =((328,400*(365/7)+1,900,000)/0.005) = €3,804,742,857 which tallies with dxhound2005‘s figure of €3.8 billion.


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    It's very easy to calculate what the fund value is at the end of each month
    This is because the prize fund is .5% of the total fund

    I think it may not be that straightforward. Because a fixed €5,280,000 was allocated to big prizes in 2018 and 2019, and it would depend how that calculation is done in conjunction with the monthly change in €50 prizes. A sort of unintended consequence of fixing the value of big prizes, is that the return given to all €50 winners as a collective keeps going up. As long as more bonds are bought each month than are cashed in. But that can't be known at the start of the year.

    In 2018 €5,280,000 was paid out in big prizes, €11,169,100 in €50 prizes. Percentage of prizes money to €50 prizes 67.9%. In 2019 €5,280,000 was paid out in big prizes, €12,352,400 in €50 prizes, 70.05%. That can be applied to the 0.5% overall return to say that €50 winners as a collective got a DIRT free return of 0.3395% in 2018, 0.3502% in 2019. Equivalent to 0.473% subject to DIRT (35% in 2019), which is a decent return in today's interest rate environment.

    Of course you need a lot of bonds to achieve that average. Somewhere along the way if the fund keeps going up, a re-balancing of the prize structure might happen. It will happen if the notional interest rate changes, like it did in August 2017.


  • Registered Users Posts: 714 ✭✭✭Agent Smyth


    Your all over thinking it (at least from my point of view)
    The prize fund is .5% of the total fund at the end of each month
    All prizes are fixed for the year except the €50 one which increase every month if there is an increase in the fund
    So every year there is
    2x €1,000,000
    50x €50,000
    520x €1000
    520x €500
    And lets use Mays prize fund as this example to find out how much was in the fund at the end of April
    There is 5268 €50 prizes in May now multiply that by 52 to give you the yearly total
    273,936 x €50
    Add them all together to get the yearly or to be more correct .5% of the total fund at the end of April
    so the yearly prize fund in May was €18,976,800.00
    And that is .5% of €3,795,360,000*
    Which according to NTMA is what the PB fund is worth at the end of April

    *please note all calculations were done on the back of a cigarette pack so there might be a few mistakes


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  • Registered Users, Registered Users 2 Posts: 1,694 ✭✭✭Hibernicis


    Your all over thinking it

    I was simply trying to express it as a formula.

    If I alter the formula above to (((wpf*52)+1,900,000)/i) where wpf is the weekly prize fund and i is the declared interest rate then I get exactly the same result as you did:

    =(((€328,400*52)+ €1,900,000)/0.005) = €3,795,360,000

    The difference is whether a year is 52 weeks or 365 days, which is probably moot as the results are very similar.


  • Registered Users Posts: 714 ✭✭✭Agent Smyth


    Hibernicis wrote: »
    I was simply trying to express it as a formula.

    Sorry Hibernicis, didn't mean to offend with my opening comment, but when I see formulas, I see complications where sometimes there doesn't need to be any


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    The Indo seems to be the only paper so far to use the media briefing. Sometimes the papers can mangle the information, but they have covered it accurately. They picked up on something I noticed with the figures. The sales were actually down in 2019 compared to 2018, but because encashments were lower the overall fund increased.

    https://www.independent.ie/business/personal-finance/prize-bond-sales-surge-of-530m-raises-fund-to-365bn-39192647.html


  • Registered Users, Registered Users 2 Posts: 5,784 ✭✭✭abff


    Look at the latest figures, the prize fund available for €50 prizes is just 0.36% of the total fund. This means that a person with a total holding of €25,000 can expect on average to win 1.8 prizes a year. Someone with €100,000 can expect to win on average 7.2 times a year.

    Of course there will be huge variations around this average. With a total holding of €100,000 I waited almost 6 months between wins from mid July last year to early January this year (when I won €100) and another 3 months for my next €50 win. Then I won €50 on April 24th, another €50 the following week and €100 this week.

    Total wins to date are as follows:

    2017 (8 months): €500
    2018: €200
    2019: €500
    2020: €350

    Overall my net annualised return has been just over 0.5%, which is somewhat ahead of expectations and an awful lot better than I would have earned if I had put the money on deposit.


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    abff wrote: »
    Look at the latest figures, the prize fund available for €50 prizes is just 0.36% of the total fund. This means that a person with a total holding of €25,000 can expect on average to win 1.8 prizes a year. Someone with €100,000 can expect to win on average 7.2 times a year.

    Of course there will be huge variations around this average. With a total holding of €100,000 I waited almost 6 months between wins from mid July last year to early January this year (when I won €100) and another 3 months for my next €50 win. Then I won €50 on April 24th, another €50 the following week and €100 this week.

    Total wins to date are as follows:

    2017 (8 months): €500
    2018: €200
    2019: €500
    2020: €350

    Overall my net annualised return has been just over 0.5%, which is somewhat ahead of expectations and an awful lot better than I would have earned if I had put the money on deposit.

    2017 is slightly distorted because the notional interest rate was 0.85% for the first seven months, changed to 0.5% on 01 August. 2018 and 2019 combined are exactly on the expected average, and you are looking good to exceed it in 2020. I also got a return of around 0.5% in both 2018 and 2019, which I posted about. I have a bit more than €100K, but like you I have had 26 weeks and 15 weeks with no win in the past three years.

    You may have seen my post #5963 where I counted the wins achieved by 60 million bonds. That is a big enough sample to prove the average luck 1.8 and 7.2 calculations. But someone would need to have many multiples of 100K to guarantee that return over a one or two year time scale.


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  • Registered Users, Registered Users 2 Posts: 5,784 ✭✭✭abff


    2017 is slightly distorted because the notional interest rate was 0.85% for the first seven months, changed to 0.5% on 01 August. 2018 and 2019 combined are exactly on the expected average, and you are looking good to exceed it in 2020. I also got a return of around 0.5% in both 2018 and 2019, which I posted about. I have a bit more than €100K, but like you I have had 26 weeks and 15 weeks with no win in the past three years.

    You may have seen my post #5963 where I counted the wins achieved by 60 million bonds. That is a big enough sample to prove the average luck 1.8 and 7.2 calculations. But someone would need to have many multiples of 100K to guarantee that return over a one or two year time scale.

    Absolutely. I think the “residual” return for the first 3 months I held bonds was around 0.5%, but that’s a relatively small proportion of the 3 years for which I have held them. The variation from feast to famine and back again strikes me as somewhat untypical, but I’m probably not an extreme outlier.

    At today’s retail rates, even one €50 win or better (a 99.93% probability) is better than the net return I would receive by putting the money on deposit, so I think I’ll stick with my current approach for now.

    Needless to say, this should not be looked at in isolation. It should form part of an overall investment strategy that includes both higher risk and lower risk assets.


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    abff wrote: »
    Absolutely. I think the “residual” return for the first 3 months I held bonds was around 0.5%, but that’s a relatively small proportion of the 3 years for which I have held them. The variation from feast to famine and back again strikes me as somewhat untypical, but I’m probably not an extreme outlier.

    At today’s retail rates, even one €50 win or better (a 99.93% probability) is better than the net return I would receive by putting the money on deposit, so I think I’ll stick with my current approach for now.

    Needless to say, this should not be looked at in isolation. It should form part of an overall investment strategy that includes both higher risk and lower risk assets.

    That is a function of you owning about 0.003% of all the bonds. Much too small statistically to establish a regular pattern. It would be far less likely to get your 14 prizes in 2018/2019 at regular intervals of 7 or 8 weeks.

    I can echo your experience in that 11 of my 15 wins in 2018 were concentrated into just 3 months, 2x4, 1x3, obviously leaving just 4 wins in the other 9 months.


  • Registered Users, Registered Users 2 Posts: 5,784 ✭✭✭abff


    That is a function of you owning about 0.003% of all the bonds. Much too small statistically to establish a regular pattern. It would be far less likely to get your 14 prizes in 2018/2019 at regular intervals of 7 or 8 weeks.

    I can echo your experience in that 11 of my 15 wins in 2018 were concentrated into just 3 months, 2x4, 1x3, obviously leaving just 4 wins in the other 9 months.

    I agree that an even distribution of prizes would be unlikely, but I suggested that the actual pattern was somewhat untypical, but probably not a complete outlier. I’m not sure why you decided to highlight the first part of my statement, but not the second.

    While I know it’s completely random, I can’t help feeling that I’m on a bit of a roll at present and will probably be checking my results with more anticipation that usual over the next few weeks. Not very logical, but human nature I guess.


  • Registered Users, Registered Users 2 Posts: 349 ✭✭Senature


    Just realised I won €50 last Friday, was wondering why there was a random lodgment to my bank account and then the penny dropped :-)


  • Registered Users, Registered Users 2 Posts: 2,093 ✭✭✭tuisginideach


    Zilch today :(


  • Registered Users, Registered Users 2 Posts: 5,784 ✭✭✭abff


    Having had wins in each of the last three drawings, I find myself irrationally disappointed that I didn't feature in this week's list. Another long famine looms.


  • Registered Users, Registered Users 2 Posts: 734 ✭✭✭Sligo Quay


    abff wrote: »
    Having had wins in each of the last three drawings, I find myself irrationally disappointed that I didn't feature in this week's list. Another long famine looms.

    Spare a thought for the rest of us, nothing for me today, only one €50 so far in 2020.


  • Registered Users, Registered Users 2 Posts: 12,044 ✭✭✭✭anewme


    Havent logged in to the tracker for ages. Logged in to see that I won €50 last week. First win in a year.


  • Registered Users Posts: 657 ✭✭✭Andrew Flexing


    No joy.

    Jan:XXXXX
    Feb: €XXX
    Mar: XXX€
    Apr: €XX€
    May: €€X

    my URBAN EXPLORATION YouTube channel: https://www.facebook.com/ASMRurbanexploration/



  • Registered Users Posts: 272 ✭✭PB2018


    Wins on 15th May 2020: €0
    Last win - 10th April 2020: €50
    Weeks since last win: 5
    €134k invested in prize bonds since July 2017
    Win ratio: 18 wins in 150 weeks (12%)
    2017 (Jul-Dec): 5 x €50 = €250
    2018 (Jan-Dec): 4 x €50 = €200
    2019 (Jan-Dec): 5 x €50 = €250
    2020 (Jan-date): 4 x €50 = €200


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  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    €50 for me today, first win since 09 April. The set of bonds started off 2019 well, but then decided to go to sleep for a year.

    Up to date as of Friday 15 May 2020.

    15 May 2020
    Prize Bond Number Value of Prize
    MN572863 €50

    10 May 2019
    Prize Bond Number Value of Prize.
    MN576032 €50

    26 Apr 2019
    Prize Bond Number Value of Prize
    MN572878 €50 (15 numbers away from today's winner)

    22 Feb 2019
    Prize Bond Number Value of Prize
    MN576064 €50 (32 numbers away from 576032)

    08 Feb 2019
    Prize Bond Number Value of Prize
    MN571962 €50


  • Registered Users, Registered Users 2 Posts: 6,931 ✭✭✭Cork Lass


    Nothing for us this week.


  • Registered Users Posts: 841 ✭✭✭pbwinner


    Winnings on 15th May 2020: €0
    Last win 9th April 2020: €50
    Total winnings on €25k from Feb 2011 to date: €2950
    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


  • Registered Users, Registered Users 2 Posts: 1,694 ✭✭✭Hibernicis


    abff wrote: »
    I agree that an even distribution of prizes would be unlikely, but I suggested that the actual pattern was somewhat untypical, but probably not a complete outlier…….

    While I know it’s completely random, I can’t help feeling that I’m on a bit of a roll at present and will probably be checking my results with more anticipation that usual over the next few weeks. Not very logical, but human nature I guess.

    I was interested in this series of posts and I think we have all had the “lucky streak” feeling from time to time (sometimes calling it a glitch or whatever!) I’ve graphed my wins over the last few years to see what the pattern was.
    kOo5sC9.png

    Note that my holding changed at the very end of 2018. So my win rates are as follows:
    2018: Holding - €200,000, number of €50 wins is 12 – .3%
    2019: Holding - €250,000, number of €50 wins is 20 – .4%
    2020: Holding - €252,000, number of €50 wins is 11 to date

    Points of note:
    Low point: 13 consecutive weeks in 2018 with no win
    High point: 5 consecutive weeks in 2018 with a €50 win each week (all in the month of June)
    High point: 3 consecutive weeks in 2019 with a total of 5no. €50 wins

    Gaps between wins:
    1 x 13 weeks
    2 x 7 weeks
    3 x 6 weeks
    3 x 5 weeks
    1 x 4 weeks

    Conclusions:
    Viewed by week, no pattern emerges
    Viewed by month, its slightly better, in that I win most months, but the number of wins is very unpredictable, varying between 0 and 5.
    That is a function of you owning about 0.003% of all the bonds. Much too small statistically to establish a regular pattern.

    This really says it all. While my annual winnings are somewhat in line with the notional interest rate (adjusted for the large prizes), for even the larger holding here monthly and weekly winnings viewed in isolation are very unpredictable.


  • Registered Users, Registered Users 2 Posts: 1,357 ✭✭✭Negative_G


    Negative_G wrote: »
    Winnings on 4th October 2019: €50
    Last win on 14th June 2019: €50
    Previous win 10th May 2019: €50

    Total winnings

    Total winnings since Feb 2015 on €50k: €1,250
    Total winnings since Oct 2016 on €20k: €250

    Winnings on 15th May 2020: €50
    Last win on 4th October 2019: €50
    Previous win 14th June 2019: €50

    Total winnings

    Total winnings since Feb 2015 on €50k: €1,300
    Total winnings since Oct 2016 on €20k: €250

    I must say, 7 months for a €50 return is pretty applying when there is €70k 'invested'.


  • Registered Users, Registered Users 2 Posts: 5,784 ✭✭✭abff


    Negative_G wrote: »
    Winnings on 15th May 2020: €50
    Last win on 4th October 2019: €50
    Previous win 14th June 2019: €50

    I must say, 7 months for a €50 return is pretty applying when there is €70k 'invested'.

    I presume you intended to say 'appalling'? I agree that it's less than would be expected based on an average prize fund of around 0.36% per annum, excluding the larger weekly prizes. Your average expectation over 7 months would be €150 and over a full year would be €250.

    So your actual 'winnings' were around 1/3rd of expected winnings over the past 7 months and around 3/5ths of expected winnings over the past 12 months. In percentage terms, it equates to a net annualised return of around 0.12% over the past 7 months and 0.21% over the past year.

    This is disappointing, but probably still better than you would have earned if you had put the money on deposit, given the abysmally low interest rates that are currently available on deposits. An Post accounts currently pay 0.15%, subject to DIRT and rates from the various banks are generally a lot worse, with most offering 0.01% or 0.02% or even 0.00%.


  • Registered Users, Registered Users 2 Posts: 18,205 ✭✭✭✭Mantis Toboggan


    I'm trying to buy prize bonds but it's saying I need to download a form complete it and post it off.

    Is it possible to just buy these online?

    Free Palestine 🇵🇸



  • Registered Users, Registered Users 2 Posts: 1,026 ✭✭✭Peter File


    I'm trying to buy prize bonds but it's saying I need to download a form complete it and post it off.

    Is it possible to just buy these online?

    You can buy them online. Are you a new customer for them?
    "Existing customers may already be registered for online purchases of Prize Bonds and Fixed Term State Savings Products.
    Please complete Personal Details to proceed."
    https://www.statesavings.ie/prize-bonds


  • Registered Users, Registered Users 2 Posts: 443 ✭✭WacoKid


    I'm trying to buy prize bonds but it's saying I need to download a form complete it and post it off.

    Is it possible to just buy these online?

    Initial registration needs to be done via posted form or drop into the GPO. You need to provide proof of ID etc.

    Once you have made an initial purchase through the form you can buy online from then on.

    When registering best to just buy minimum amount of bonds allowed and then do the subsequent purchases online.


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  • Registered Users, Registered Users 2 Posts: 18,205 ✭✭✭✭Mantis Toboggan


    Yeah new customer. Perfect cheers.

    Free Palestine 🇵🇸



  • Registered Users Posts: 211 ✭✭florawest


    Sligo Quay wrote: »
    Spare a thought for the rest of us, nothing for me today, only one €50 so far in 2020.

    Ah, no wins at all yet for 2020 😕


  • Registered Users Posts: 272 ✭✭PB2018


    Another glitch :)

    Wins on 22nd May 2020: €50
    Previous last win - 10th April 2020: €50
    Weeks since last win: 6
    €134k invested in prize bonds since July 2017
    Win ratio: 19 wins in 151 weeks (13%)
    2017 (Jul-Dec): 5 x €50 = €250
    2018 (Jan-Dec): 4 x €50 = €200
    2019 (Jan-Dec): 5 x €50 = €250
    2020 (Jan-date): 5 x €50 = €250


  • Registered Users Posts: 657 ✭✭✭Andrew Flexing


    No Glitch. No joy.

    Jan:XXXXX
    Feb: €XXX
    Mar: XXX€
    Apr: €XX€
    May: €€XX

    my URBAN EXPLORATION YouTube channel: https://www.facebook.com/ASMRurbanexploration/



  • Registered Users Posts: 841 ✭✭✭pbwinner


    Winnings on 22nd May 2020: €0
    Last win 9th April 2020: €50
    Total winnings on €25k from Feb 2011 to date: €2950
    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


  • Registered Users, Registered Users 2 Posts: 6,931 ✭✭✭Cork Lass


    Nothing for us this week :(


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  • Registered Users, Registered Users 2 Posts: 17,999 ✭✭✭✭Thargor


    €50, happy days.


  • Registered Users, Registered Users 2 Posts: 2,093 ✭✭✭tuisginideach


    Zilch today :(
    and zilch again...:(


  • Registered Users Posts: 1,171 ✭✭✭diceyreilly


    €32,475 in bonds. No prize since October.

    Not too bothered. No interest in banks and just keeping it there till I’m ready to purchase a house.


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    Nothing for me on Friday 22 May.

    I took a look back at how the notional interest rate has changed.

    2000 2.75%.
    2004 2.4%
    Sept 2007 3%.
    Jan 2012 2.25%
    June 2012 1.75%.
    Dec 2013 1.6%
    Nov 2014 1.25%.
    July 2016 0.85%.
    Aug 2017 0.5%.

    Far fewer prizes but more money paid out in 2008 compared to 2018 and 2019. 2017 was slightly more at €21,278,600

    Value Number of prizes Value of prizes

    €1 million Jackpot Prize 4 4,000,000
    €500,000 Jackpot Prize 8 4,000,000
    €20,000 Star Prize 40 800,000
    €1,000 260 260,000
    €250 520 130,000
    €75 147,597 11,069,775

    Total 148,429 €20,259,775


  • Registered Users, Registered Users 2 Posts: 16,566 ✭✭✭✭yabadabado


    Maybe you have done some research in the last few days, with a view to getting a better return? It is a bit of a recurring theme on the thread, but it turns out there is very little choice if you want to fully protect your capital. 0.21% per annum, subject to 33% DIRT is the best you can get with easy access. Even tying up your money for longer periods is not much better.

    http://www.moneyguideireland.com/best-savings-rates/instant-access

    Of course there are lots of other ways of making money out of money. But the occasional visitors to the thread who derided us for not being in the stock market, have not made any appearances lately with their surefire tips.

    I meant to come back to you weeks ago but you are probably correct. To have easy access to the funds and protection on the capital there doesn't seem to be many alternatives.


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  • Registered Users, Registered Users 2 Posts: 2,093 ✭✭✭tuisginideach


    and zilch again...:(
    and again :(:(


  • Registered Users Posts: 657 ✭✭✭Andrew Flexing


    No Joy.

    my URBAN EXPLORATION YouTube channel: https://www.facebook.com/ASMRurbanexploration/



  • Registered Users Posts: 841 ✭✭✭pbwinner


    Winnings on 29th May 2020: €0
    Last win 9th April 2020: €50
    Total winnings on €25k from Feb 2011 to date: €2950
    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


  • Registered Users Posts: 272 ✭✭PB2018


    Wins on 29th May 2020: €0
    Last win - 22nd May 2020: €50
    Weeks since last win: 1
    €134k invested in prize bonds since July 2017
    Win ratio: 19 wins in 152 weeks (13%)
    2017 (Jul-Dec): 5 x €50 = €250
    2018 (Jan-Dec): 4 x €50 = €200
    2019 (Jan-Dec): 5 x €50 = €250
    2020 (Jan-date): 5 x €50 = €250


  • Registered Users, Registered Users 2 Posts: 1,668 ✭✭✭Zimmerframe


    PB2018 wrote: »
    €134k invested in prize bonds
    2020 (Jan-date): 5 x €50 = €250

    You lucky ........


    On a similar figure (6 family members at 20k each) - i.e 120k

    Total winnings in 2020 = NIL :(


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    Nothing for me today. On 08 May the Irish Times were trying to find out how much was the spike in sales.

    https://www.irishtimes.com/business/economy/prize-bond-sales-fall-as-fund-reaches-record-high-of-3-6bn-1.4248595

    The company said it has seen an increase in sales “in recent weeks, which has since steadied to normal levels of purchasing”. The company declined to set out the extent of the increase in sales.

    They could have worked it out from the newest winning numbers. Taking the numbers from the draws of 28 Feb and 29 May, the combined sales for the three months was €192 million (30,720,000 new bonds). This compares with March/April/May sales 2017 €146.33 million, 2018 €153.96 million, and 2019 €127.17 million.


  • Registered Users, Registered Users 2 Posts: 192 ✭✭Mormegil


    €50 Today.

    Last win 17th Jan 2020.

    First year since 2015 to have multiple wins. :)


  • Registered Users Posts: 7 cute sheep


    Hi. I'm new to this. Got around €5K in PB. My question relates to whether it is necessary to check the results each week or whether it is safe to trust them to advise of winnings? Looking at how the prizes are announced they don't make it easy for you. For instance it surprises me that you can only check a single number at a time. If you have a PB for €500 that's 80 numbers. Wouldn't it make sense to offer the option of checking a range of numbers or enter the PB Voucher number? The website talks about unclaimed prizes bit how can there be unclaimed prizes if we have to give personal info every time we buy a bond?


  • Registered Users, Registered Users 2 Posts: 192 ✭✭Mormegil


    cute sheep wrote: »
    Hi. I'm new to this. Got around €5K in PB. My question relates to whether it is necessary to check the results each week or whether it is safe to trust them to advise of winnings? Looking at how the prizes are announced they don't make it easy for you. For instance it surprises me that you can only check a single number at a time. If you have a PB for €500 that's 80 numbers. Wouldn't it make sense to offer the option of checking a range of numbers or enter the PB Voucher number? The website talks about unclaimed prizes bit how can there be unclaimed prizes if we have to give personal info every time we buy a bond?

    You can check a range of numbers, it tells you to enter the first and last number of a range.


    Sign up at the Prize Bonds website however and you can have it check multiple ranges of PB's automatically using the Prize Bond Tracker.



    As to unclaimed prizes, people may have brought PB's years ago and then moved address without notifying anyone. Any correspondence (inc winning cheques (back when they sent cheques out)) would then still go to the old address and thus be unclaimed.


  • Registered Users, Registered Users 2 Posts: 21,562 ✭✭✭✭dxhound2005


    Unclaimed Prizes (Annual Report 2019).
    At the end of 2019, the number of unclaimed prizes, built up since the launch of the product in 1957,
    amounted to €2.86 million. Unclaimed prizes are defined as not claimed after six months. It should be noted
    that we communicate with every prize winner at the address we have for the customer. Unclaimed prizes
    primarily arise due to customers not notifying us of their change of address. We encourage customers to
    notify us of any changes as early as possible after the change.
    The amount outstanding in these prizes is a very small part of the value of prizes awarded over the years
    since the incorporation of the Prize Bond Scheme. All prizes are listed on the State Savings website, www.
    StateSavings.ie. It is important to remember that prizes are held indefinitely until claimed by a bond holder.

    People with a lot of money can get careless about it. The €2.86 million being held by Prize Bonds is dwarfed by the vast amounts in dormant accounts, those with no activity for 15 years. The State is taking €43 million of that money this year to spend on services. Loads of lottery prizes go uncashed. There are hundreds of millions of Punts still not converted to Euro. And some people put their valuables in bank vaults and abandoned them there.

    https://www.irishtimes.com/news/ireland/irish-news/thousands-of-boxes-of-valuables-lie-unclaimed-in-bank-vaults-1.3815357

    The €2.86 million is not part of the Dormant Accounts scheme, nor the bonds which won the prizes. Many other bonds would never have won a prize, and the only activity relating to them could be a IR£5 purchase decades ago. Nobody is going to look for the owners if they never win.


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