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€25k invested in prize bonds

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    #62
    Isoaxe
    Registered Users Posts: 74 ✭✭Isoaxe


    Total interest since Feb '11 on €25k: €333.06

    3.65%*€25,000*0.5*0.73 = €333.06

    17th February - 17th August = 0.5 years


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    #63
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Isoaxe wrote: »
    Total interest since Feb '11 on €25k: €333.06

    3.65%*€25,000*0.5*0.73 = €333.06

    17th February - 17th August = 0.5 years
    Yup! Beginning to think PBs are the biggest scam going...


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    #64
    Isoaxe
    Registered Users Posts: 74 ✭✭Isoaxe


    It's not just the interest/winnings that I have a problem with (though they are no doubt puny for the most part). It's the safety of principal, see my posts on the subject here. They're advertised as 100% safe. They're not.


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    #65
    whacky
    Registered Users Posts: 12 ✭whacky


    So heres my take on prize bonds........

    the loot/money/pool of money never increases in value or in number of prizes.

    however...

    the number of prize bonds being issued is always increasing ....................

    and has been since it began. and when u sell, they are just sold onto existing or new bondholders!

    one side is constantly growing...... while the other side remains static!

    in other words, the chances/odds of winning decreases with time as more and more poeple buy bonds.

    whacky


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    #66
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €0
    Total winnings since Feb '11 on €25k: €150


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    #67
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    whacky wrote: »
    So heres my take on prize bonds........

    the loot/money/pool of money never increases in value or in number of prizes.

    however...

    the number of prize bonds being issued is always increasing ....................

    and has been since it began. and when u sell, they are just sold onto existing or new bondholders!

    one side is constantly growing...... while the other side remains static!

    in other words, the chances/odds of winning decreases with time as more and more poeple buy bonds.

    whacky

    Yup agree. My own back-of-the-envelope puts the odds of winning on pb's worse then winning euromillions.


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    #68
    syklops
    Closed Accounts Posts: 18,969 ✭✭✭✭syklops


    I followed this thread early on with interest.

    I was given about 20 pounds worth of PBs when I was born ~30 years ago. Never won a dime on them.


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    #69
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €0
    Total winnings since Feb '11 on €25k: €150


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    #70
    seandugg
    Registered Users Posts: 220 ✭✭seandugg


    whacky wrote: »
    So heres my take on prize bonds........

    the loot/money/pool of money never increases in value or in number of prizes.

    however...

    the number of prize bonds being issued is always increasing ....................

    and has been since it began. and when u sell, they are just sold onto existing or new bondholders!

    one side is constantly growing...... while the other side remains static!

    in other words, the chances/odds of winning decreases with time as more and more poeple buy bonds.

    whacky

    Why do you post absolute nonsense?

    From the prizebonds site:
    The number of prizes awarded each week depends on the total size of the Prize Bond fund. It is currently calculated at a variable rate of 3% of the fund size per annum. This provides over 7,000 prizes every week.


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    #71
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €0
    Total winnings since Feb '11 on €25k: €150

    (This cut and paste of €0 is getting very tiresome! :rolleyes: )


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    #72
    Thargor
    Registered Users Posts: 17,865 ✭✭✭✭Thargor


    You can add me to the list of people who were very sucessful initially with the prizebonds in the first few weeks then it all dried up, its suspicious I have to say, I stuck 10k savings in the PBs when i was in college so I wouldnt end up blowing it and for a while it was like every week Id get a text from my father saying there was another envelope at home with a Kerry postmark on it to say Id won, then they completely stopped coming, I had more winnings from the first 2 months than I did for a year afterwards (zero), got rid of them eventually and stuck it in shares.


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    #73
    ROSSKI
    Registered Users Posts: 295 ✭✭ROSSKI


    I got a few prizebonds when I was only a child but wouldnt have a clue where they are or whats the story with them - Is there anyway of checking this online or how would I go about checking?


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    #74
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    ROSSKI wrote: »
    I got a few prizebonds when I was only a child but wouldnt have a clue where they are or whats the story with them - Is there anyway of checking this online or how would I go about checking?
    Is that a serious question? You really couldn't think that typing "prize bonds" into google might help? :eek:
    In case that's too much trouble, click here


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    #75
    ROSSKI
    Registered Users Posts: 295 ✭✭ROSSKI


    Sorry - Badly worded question:o

    I did a search but couldnt find the answer - I know I have some bonds but I cannot find them and was wondering is there anyway of checking how many I have, did I win anything, etc


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    #76
    Blisterman
    Registered Users Posts: 7,450 ✭✭✭Blisterman


    Thargor wrote: »
    You can add me to the list of people who were very sucessful initially with the prizebonds in the first few weeks then it all dried up, its suspicious I have to say, I stuck 10k savings in the PBs when i was in college so I wouldnt end up blowing it and for a while it was like every week Id get a text from my father saying there was another envelope at home with a Kerry postmark on it to say Id won, then they completely stopped coming, I had more winnings from the first 2 months than I did for a year afterwards (zero), got rid of them eventually and stuck it in shares.

    Have to say, I'm tempted to buy a few quids worth of prize bonds and hold on to them for a few weeks, before selling them.


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    #77
    Thargor
    Registered Users Posts: 17,865 ✭✭✭✭Thargor


    Good idea for an experiment, it wont cost you anything either, do it!


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    #78
    whacky
    Registered Users Posts: 12 ✭whacky


    seandugg wrote: »
    Why do you post absolute nonsense?

    From the prizebonds site:

    Yep seandugg, seen that on the website alright.....

    What you forgot to post was this...

    'As the fund grows, additional prizes will be awarded in the €75 category'

    Meaning the top tier of the prize triangle remains static i.e larger significant prizes.... €1million/€20k etc...

    While the €75 pot constantly grows.

    The total prize fund (from top to bottom) is not in direct proportion to the numbers joining i.e. the more people join the more ALL prize categories should increase, not just the €75 pot

    whacky


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    #79
    maddragon
    Registered Users Posts: 590 ✭✭✭maddragon


    Ok. My story is I put 22k into prizebonds in March and have won 3x75euro prizes since then. If that win rate continues it's approx 2percent. Not great but still in with the chance of a big win. It will be interesting to see if it all dries up like other posters have said.


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    #80
    Seifer
    Registered Users Posts: 2,265 ✭✭✭Seifer


    Are prizebonds purely an Irish thing? Or do they offer similar schemes in other countries?


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    #81
    Alun
    Registered Users Posts: 21,418 ✭✭✭✭Alun


    Seifer wrote: »
    Are prizebonds purely an Irish thing? Or do they offer similar schemes in other countries?
    They have Premium Bonds in the UK which are the same thing.


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    #82
    newmug
    Banned (with Prison Access) Posts: 3,571 ✭✭✭newmug


    Isoaxe wrote: »
    Total interest since Feb '11 on €25k: €333.06

    3.65%*€25,000*0.5*0.73 = €333.06

    17th February - 17th August = 0.5 years


    What do you mean, interest on your savings in a bank?

    What do the 0.5 and 0.73 in your sum mean?

    If you got 333 for half a year, that beats the hell out of prize bonds any day!


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    #83
    littlehedgehog
    Registered Users Posts: 588 ✭✭✭littlehedgehog


    0.5 is the half year, 0.73 is less DIRT :)


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    #84
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €0
    Total winnings since Feb '11 on €25k: €150


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    #85
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €75
    Total winnings since Feb '11 on €25k: €225


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    #86
    brownbeard
    Registered Users Posts: 112 ✭✭brownbeard


    pbwinner wrote: »
    Winnings from today's draw: €75
    Total winnings since Feb '11 on €25k: €225

    A little under a percent in a little over half a year. I admire the fact that you're sticking with it sir.


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    #87
    Thargor
    Registered Users Posts: 17,865 ✭✭✭✭Thargor


    pbwinner wrote: »
    Winnings from today's draw: €75
    Total winnings since Feb '11 on €25k: €225
    Its a nice buzz when you see the envelope isnt it? :p


  • Options
    #88
    pbwinner
    Registered Users Posts: 807 ✭✭✭pbwinner


    Winnings from today's draw: €0
    Total winnings since Feb '11 on €25k: €225


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    #89
    MasterSun
    Registered Users Posts: 211 ✭✭MasterSun


    Done the maths on excel, results:

    If you are willing to invest 1K in one year time, you will have 27.78% chance winning a prize (given a 3.6 to 1 chance, see http://www.prizebonds.ie/about/faqs.html#Q15 ),
    your weighted return would be 3.012384% per year, that's 30.12 euro.

    175653.JPG

    on average, the length of time to win a prize in each category:
    for the monthly grand prize of 1M, it will take u 117,792.95 years;
    for the weekly grand prize of 20,000, it will take u 35,212.13 years;
    for the 1,000 euro prize, it will take u 5,421.70 years;
    for the 250 euro prize, it will take u 2,710.85 years;
    for the 75 euro prize, it will take u 3.6 years;

    P.S.
    if u want to calculate your investment returns, download the xls file and then change the figure in cell C10 (the cell in green).


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    #90
    nhg
    Registered Users Posts: 1,000 ✭✭✭nhg


    I started in January 2011 to purchase €200 of prize bonds per month by direct debit (the children's allowance plus a little bit extra - child 7yrs so hope to use it as a college fund and hopefully hit the jackpot as well!).

    I have €1800 worth now and not a win yet. I have old ones over the years and not a win either.

    My Dad won €75 last year on a bond that was about 30 yrs old and I bought one for a friends birthday last year and a few weeks ago they won €75. They are so handy presents for birthdays, christmas, christenings etc.


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    #91
    Curly Judge
    Registered Users Posts: 2,708 ✭✭✭Curly Judge


    If you check on the winning numbers on the UK prize bonds you will see that the vast majority of winners have holdings of above 20,000 sterling.
    I understand that some people in the UK invest,[or used to invest], like this in the expectation of a 4% return. Which would be quite good when you think about it as the winnings are tax free.


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