Sales of Prize Bonds topped €350 million last year
Sales of Prize Bonds topped €350 million last year, according to the latest annual report from the Prize Bond Company.
During 2024, the value of Prize Bond repayments was over €538 million.
The total amount invested in Prize Bonds was €4.46 billion at end of last year.
There were 475,102 prizes awarded in 2024, with a total value of €45.6 million.
Currently, over 8,500 prizes are awarded weekly with a weekly jackpot prize valued at €50,000 and a jackpot prize of €500,000 in the last weekly draw each month.
At the end of last year, unclaimed prizes - prizes not claimed after six months and which have accumulated since Prize Bonds was established in 1957, totalled €3.4 million.
"I am pleased to report this strong performance for 2024," said Debbie Byrne, Chairperson of the Prize Bond Company said
"This reflects continued customer confidence in Prize Bonds as a unique retail savings product.
"The number of prizes issued increased by 53% in 2024 along with an increase of 89% to the value of these prizes," she added.
25% of all Prize Bond sales in 2024 were generated online compared with 21% in 2023.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
3 days ago
- Irish Independent
‘They are not a suitable long-term investment' – expert questions wisdom of buying Prize Bonds as sales drop sharply
A total of €351m was spent on new Prize Bonds last year, according to the Prize Bond Company. This was a fall on sales of €489m in 2023, and was well down on the figure from 2022, when €615m in new Prize Bonds were sold. Consumer advocate Brendan Burgess said the bonds are not a suitable long-term investment. The value of the Prize Bonds fund at the end of last year was €4.46bn, also down on previous years. There were 386,307 Prize Bonds sold last year, a fall of 27pc on the previous year. The National Treasury Management Agency (NTMA), which manages the Prize Bond draws, says on its website the prize fund amounts to 1pc of the fund. Mr Burgess, founder of the website, said this was a poor return. Britain's equivalent, called Premium Bonds, have a prize fund of 3.5pc. However, the central bank there has a higher deposit rate than the European Central Bank. Some finance experts claim that buying Prize Bonds means forgoing interest and essentially buying a raffle ticket. ADVERTISEMENT The Prize Bond Company, which sells and markets the bonds on behalf of the NTMA, said the monetary value of prizes was €45.6m last year, an increase of 89pc in the financial year. Mr Burgess said this means the return was a tax-free 1pc. He said this was better than can be earned on a current account. 'But with inflation well in excess of 1pc, these people lost money in real terms,' he said. He said he was he was amazed at the number of people who die with large sums of money in Prize Bonds for years. 'They are not a suitable long-term investment. For a long-term investment, people should be in a diversified portfolio of shares,' Mr Burgess said. Four years ago, the Prize Bond Company controversially scrapped the €1m top prize. It was replaced with a monthly jackpot of €500,000, and a string of smaller prizes. There were 475,102 prizes awarded last year, with a total value of €45.6m, the Prize Bond Company said. 'Currently, over 8,500 prizes are awarded weekly, with a weekly jackpot prize valued at €50,000, and in addition a jackpot prize of €500,000 in the last weekly draw each month,' it said. Chairperson of the Prize Bond Company, Debbie Byrne, said there has been a big shift by consumers to buying Prize Bonds online. A quarter of all Prize Bond sales last year were generated online, compared with 21pc in 2023. Ms Byrne said the €351m in sales last year reflected continued customer confidence in Prize Bonds 'as a unique retail savings product'. She said the number of prizes issued increased by 53pc last year, along with an increase of 89pc to the value of these prizes. 'The opportunity to win prizes remains a defining feature of the Prize Bonds product and part of its enduring popularity,' she said.
RTÉ News
3 days ago
- RTÉ News
Sales of Prize Bonds topped €350 million last year
Sales of Prize Bonds topped €350 million last year, according to the latest annual report from the Prize Bond Company. During 2024, the value of Prize Bond repayments was over €538 million. The total amount invested in Prize Bonds was €4.46 billion at end of last year. There were 475,102 prizes awarded in 2024, with a total value of €45.6 million. Currently, over 8,500 prizes are awarded weekly with a weekly jackpot prize valued at €50,000 and a jackpot prize of €500,000 in the last weekly draw each month. At the end of last year, unclaimed prizes - prizes not claimed after six months and which have accumulated since Prize Bonds was established in 1957, totalled €3.4 million. "I am pleased to report this strong performance for 2024," said Debbie Byrne, Chairperson of the Prize Bond Company said "This reflects continued customer confidence in Prize Bonds as a unique retail savings product. "The number of prizes issued increased by 53% in 2024 along with an increase of 89% to the value of these prizes," she added. 25% of all Prize Bond sales in 2024 were generated online compared with 21% in 2023.
Irish Daily Mirror
30-05-2025
- Irish Daily Mirror
Celebrations after lucky Prize Bond owner scoops €500,000 in weekly draw
One lucky punter from Co Cork is celebrating a huge cash windfall after winning this week's top prize in the Prize Bond Draw. Ireland State Savings, which runs the draws, confirmed today that this month's top prize of €500,000 is going to Prize Bond number WQ533371, held in The Rebel County. The lucky bond was purchased back in 2014. There were a total of 8,835 prizes awarded in this week's Prize Bond Draw, amounting to a total of over €1,239,475 in prizes. Prize Bonds are a State Savings product which, instead of paying interest, offers bondholders the chance to win cash prizes every week. In addition to a €500,000 prize awarded on the last weekly draw of every calendar month, there are weekly draws where the top prize is €50,000. Other cash prizes awarded each week include 20 of €1,000 and 20 of €500. Founded in 1957, the Prize Bonds draw,which is held every Friday, is Ireland's longest running prize draw. Prize Bonds are available in units of €6.25. There is a minimum purchase of €25 (4 units) and a maximum of 250,000 (40,000 units). They can be purchased by Direct Debit, online at by telephone to call save 0818 20 50 60 or at the local Post Office. Prize Bonds are entered into a weekly draw with thousands of prizes ranging in value from €75 to €50,000, with a jackpot prize valued at €500,000 awarded in the last draw every month. All winnings are tax-free, and Prize Bonds can be cashed in at any time after the minimum holding period of three months. Prize Bond holders can check draw results online at The main winning numbers are also available in most Post Offices.
