More than 1 Billion now invested in Prize Bonds

[callybags]

http://www.breakingnews.ie/business/more-than-1bn-invested-in-prize-bonds-431841.html

Does this mean the chances of winning are diminished or do they pay out a certain percentage in winnings.

It's a big increase - 26% if the same dividends are given in prizes.

 

[seanclon]

not really as the prizes are a proportion of the money invested at any time

 

[Johnweber]

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 4,000 prizes every week.

The following is the prize structure:

Monthly

1 Million Prize - The monthly

1 Million Prize is awarded in the last draw of every month.

Weekly Top Prize

20,000

5 prizes @

1,000

10 prizes @

250

Over 4,000 @

75

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

 

[thedon]

I would say the chances have absolutely diminished. I have held prize bonds for over 15 years and have invested about a grand a year so that now I have around €15,000 in prize bonds. I won periodically ( usually the small amounts but some bigger ) until I reached the €5,000 point ( about 10 years ago ) and since then I have won on average 5/6 times a year ( again usually smaller values ) however this year I have only won once, this is highly unusual and I consider the huge investment in recent times to be the culprit it could however be just plain bad luck. Personally I'm going to move the majority of my money elsewhere as whether it be my bad luck or the huge investment in prize bonds recently my money just 'aint working for me in prize bonds anymore, it was fun while it lasted though