Prize Bond fund hits record

THE prize bond fund has increased by 50% in 30 months to hit a record €1.2 billion.

However, the surge in sales and the static rate of encashment has resulted in higher odds of having a bond number emerging as a jackpot winner – up by almost 70 million to one since 2008 to 192m/1.

Yesterday, the Prize Bond Company Limited published its 2009 annual results and sales results for the first half of 2010 which shows that the public is having a renewed love affair with prize bonds despite the higher odds of winning the top prize. The odds for a single bond to win any cash prize in each draw is 32,262/1.