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Prize bonds? anybody got them?

  • 04-12-2012 8:14pm
    #1
    spankmemunkey
    Registered Users Posts: 2,016 ✭✭✭


    This may be posted in the wrong place so feel free to move

    But does anybody on here have Prize bonds? its a form of gambling isnt it?

    What are the chances of winning on them?


Comments

  • #2
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    I've a tiny amount, €200 or so for about 4 years now. Never ever heard a thing about them, presume I didn't win anything.


  • #3
    spankmemunkey
    Registered Users Posts: 2,016 ✭✭✭spankmemunkey


    I was gonna buy about 1000 euro worth of them, I think its like 4 for 25 euro.

    I was just on their site there and they say they notify winners by post or you can check your numbers online!


  • #4
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    spankmemunkey wrote: »
    I was gonna buy about 1000 euro worth of them, I think its like 4 for 25 euro.

    I was just on their site there and they say they notify winners by post or you can check your numbers online!
    If you do a search on boards, there is a thread somewhere on here where some fella bought a sh!tload of them and kept a record of every draw. I can't find it now as I'm on the phone.


  • #5
    spankmemunkey
    Registered Users Posts: 2,016 ✭✭✭spankmemunkey


    Ill have a search for that now!


  • #6
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    spankmemunkey wrote: »
    Ill have a search for that now!
    See does this work.
    http://touch.boards.ie/thread/2056292513?page=2


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  • #7
    okidoki987
    Registered Users Posts: 10,614 ✭✭✭✭okidoki987


    I bought a load when I had some spare cash many years ago.

    Upside:
    Always there, cashable, will always be worth what I paid for them, in every draw.

    Downside:
    Loss of interest, odds of winning a large payout very big,

    I get a good few €75 prizes over the year so worth it for me.


  • #8
    spankmemunkey
    Registered Users Posts: 2,016 ✭✭✭spankmemunkey


    What is a load? I read theres a million euro given away each month! like one, one million winner?


  • #9
    okidoki987
    Registered Users Posts: 10,614 ✭✭✭✭okidoki987


    What is a load?

    High 4 figures.

    Yep there is one 1 million prize each month (never won it though :o).
    The great thing is you buy 1 prize bond, you are in that draw every month forever or until you cash it in.
    The odds would be zilllions /1 as there so many tickets in there.
    When you buy a lottery ticket, you are only in the 1 draw.
    Pays your money and take your choice.


  • #10
    jmorrisey
    Registered Users Posts: 696 ✭✭✭jmorrisey


    okidoki987 wrote: »
    High 4 figures.

    Yep there is one 1 million prize each month (never won it though :o).
    The great thing is you buy 1 prize bond, you are in that draw every month forever or until you cash it in.
    The odds would be zilllions /1 as there so many tickets in there.
    When you buy a lottery ticket, you are only in the 1 draw.
    Pays your money and take your choice.

    seriously has anyone ever won or had an association to anybody that won over 1000 euro? Ive never encountered it and no loads of people with lots of them including my own family


  • #11
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    jmorrisey wrote: »
    seriously has anyone ever won or had an association to anybody that won over 1000 euro? Ive never encountered it and no loads of people with lots of them including my own family

    I know someone who won mega money either 1/4 or 1/2 million, can't remember.


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  • #12
    actuallylike
    Registered Users Posts: 1,450 ✭✭✭actuallylike


    Follow this thread:

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

    There's also talk in it about the odds of winning compared with simply investing the money. Turns out it'd be better to simply invest. Don't think Prize Bonds are really gambling though.

    I personally, have €5000 invested for a year now. Have won 3 €75 so €225. Don't know if that's good or bad though.


  • #13
    jmorrisey
    Registered Users Posts: 696 ✭✭✭jmorrisey


    actuallylike wrote: »
    Follow this thread:

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

    There's also talk in it about the odds of winning compared with simply investing the money. Turns out it'd be better to simply invest. Don't think Prize Bonds are really gambling though.

    I personally, have €5000 invested for a year now. Have won 3 €75 so €225. Don't know if that's good or bad though.

    Thats a very good r.o.i. in todays climate


  • #14
    okidoki987
    Registered Users Posts: 10,614 ✭✭✭✭okidoki987


    I personally, have €5000 invested for a year now. Have won 3 €75 so €225

    3-3.5% a year before dirt = roughly €125
    Much better off getting €225 off the Prize Bonds.


  • #15
    Oscars Well.
    Closed Accounts Posts: 1,285 ✭✭✭Oscars Well.


    I've about €16,000 worth. Have had them for about a year and won €75 four times.


  • #16
    spankmemunkey
    Registered Users Posts: 2,016 ✭✭✭spankmemunkey


    Oscars Well. wrote: »
    I've about €16,000 worth. Have had them for about a year and won €75 four times.

    Jaysus you must have too much money to know what to do with!

    Surely you could do better with 16,000 would you not do the government saving incentive scheme?


  • #17
    samina
    Registered Users Posts: 329 ✭✭samina


    We got some as kids probably about 25+ years ago. None of us won a thing


  • #18
    dxhound2005
    Registered Users Posts: 20,441 ✭✭✭✭dxhound2005


    The draw is posted every week at 12.30pm on Friday.

    http://www.prizebonds.ie/livedraw/drawresults.asp?0

    The top prize is €20,000 every week except the last draw of the month which is €1 million. There are only 16 prizes (out of 9000 plus) over €75 so the chances of winning one of them is slim with probably 50 million bonds out there. An examination of the draw any week will show that Dublin and Cork between them gets about half the prizes and other counties are within a certain range every week.

    And if you look at the prizes in bond order every serial letter group wins including some of he earliest bonds from the 1950's. But the more recent serials feature more heavily because less of them have been cashed in. You can have large gaps between one winning bond and the next meaning a holding of €1 million could easily not win a prize in a given week. But someone with €1000 could win twice, it is a good example of randomness.


  • #19
    meoklmrk91
    Registered Users Posts: 4,085 ✭✭✭meoklmrk91


    I have €1k worth since June this year, I won €75 once, Which is far better than any interest rate I would get for the same amount. So I'm happy enough.


  • #20
    okidoki987
    Registered Users Posts: 10,614 ✭✭✭✭okidoki987


    And you will always get your original principal back.


  • #21
    Juwwi
    Registered Users Posts: 4,244 ✭✭✭Juwwi


    Probably a stupid question but to buy them do you just go into any post office with cash to buy them?

    And how much is it now for 1 prize bond in the draw ?


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  • #22
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    In the Post Office or online Robbie.

    €6.25 per unit with a minimum purchase of 4 units, €25.


  • #23
    okidoki987
    Registered Users Posts: 10,614 ✭✭✭✭okidoki987


    You will need ID either when you buy them for the 1st time or when you buy over a certain amount, can't remember which it is.
    Under the money laundering regulations now.


  • #24
    Oscars Well.
    Closed Accounts Posts: 1,285 ✭✭✭Oscars Well.


    spankmemunkey wrote: »
    Jaysus you must have too much money to know what to do with!

    Surely you could do better with 16,000 would you not do the government saving incentive scheme?

    Always in with a chance of winning the million :p But seriously, you're probably right. Might dabble in a few shares or just put it in a long term savings account.


  • #25
    dxhound2005
    Registered Users Posts: 20,441 ✭✭✭✭dxhound2005


    Something statistically unlikely happened in today's draw. Longford got 4 of the 16 prizes over €75.

    http://www.prizebonds.ie/livedraw/drawresults.asp?0


  • #26
    dxhound2005
    Registered Users Posts: 20,441 ✭✭✭✭dxhound2005


    The prize structure has changed.

    http://www.prizebonds.ie/about/prizes.html


  • #27
    famagusta
    Registered Users Posts: 600 ✭✭✭famagusta


    dxhound2005 wrote: »
    The prize structure has changed.

    http://www.prizebonds.ie/about/prizes.html


    Ya the fund payout has been reduced from 3% to 2.25%.

    When you take out the big prizes that skew the % you would be looking at 1.5% interest roughly.

    Balls.


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