On to a winner as Prize Bonds hit all-time high

Cash prizes won by 438,682 Prize Bond holders last year came to €46m — marking a near 14% annual increase in prize winners — the highest amount in the scheme’s 55-year history.

The latest annual report from the Prize Bond Company, issued yesterday, shows a 13.4% increase in gross sales, to €352.6m, with the fund value standing at €1.65bn — the highest on record.

The value of cash prizes won by customers — €46m — was also a record high and marked a 9.6% yearly increase and the number of bond purchases rose by 8% to 365,870.

According to Prize Bond Company chairman John Daly, “the enduring appeal of the scheme is evident in the sales figures”.

“2012 was yet another strong year for Prize Bonds, with increased sales and prize fund value, and a record number and value of prizes won by our customers. The year saw a lower level of encashments. The enduring appeal of the scheme which has been running for 55 years is evident in the sales figures,” Mr Daly said.

He added that the strong sales performance has continued into 2013, with sales up by 23% for the first quarter of the year, compared with the same period in 2012.

Last month’s overall monthly ‘millionaire’ draw saw €1m being won by a Cork resident, with 9,000 other holders winning smaller prizes and €1.4m being won in total.

Overall, the combined value of unclaimed prizes stands at €2.04m — dating back to the beginning of the scheme. All cash prizes remain valid, indefinitely, and can be claimed at any time.

Although the Prize Bond Company is a joint venture between An Post and Fexco, all money is placed with the Government, with the scheme being managed by the National Treasury Management Agency.