€25k invested in prize bonds

worded

Spanish Eyes wrote: »

Just asking.

Does anyone know who is present when the prize bonds are called out?

Is it open to the public or what.

Blind Childeren reach into a metal drums

This is a gob smacking read about the sweeps tickets

http://www.independent.ie/opinion/analysis/irish-sweepstake-scandal-remains-a-lesson-to-us-all-26237690.html

Bob24

Spanish Eyes wrote: »

Just asking.

Does anyone know who is present when the prize bonds are called out?

Is it open to the public or what.

See here: http://www.statesavings.ie/Downloads/PrizeBondsFAQs.pdf

8. How are prize bond winners selected in the weekly draw

The Prize Bonds winners are selected in a computerised draw each week. The numbers are randomly generated by a computer and every draw is observed by an official from the National Treasury Management Agency. The results of every draw are independently analysed to confirm the randomness of the draw (see FAQ 18).

It's a computerised draw "observed by an official from the National Treasury Management Agency" (not sure what they can observe unless they have superhuman vision and can see what's going on inside the CPU of the computer!)

So it's a bit if a black box, but they say the system is independently analysed to make sure the draw is random (they don't seem to provide any reference to that independent audit though).

Spanish Eyes

So not open to the public really.

dxhound2005

Pity the good people of Longford. Their county got only 14 prizes today. Dublin got nearly 3,000.

worded

Spanish Eyes wrote: »

So not open to the public really.

And that's why I don't like / trust it.

In god we trust .... I prefer the uk system with just numbers than our alpha numeric system

What way does the U.K. System work. Is it more transparent ? Easier to understand ? Better audited ?


They are called premium bonds

alb

I've posted earlier in this thread saying so, but it's easy and cheap nowadays to have a computerized draw that is provably fair, there is no excuse for not doing it.

Sligo Quay

dxhound2005 wrote: »

Pity the good people of Longford. Their county got only 14 prizes today. Dublin got nearly 3,000.

I think that's purely down to population, more population in Dublin, the six counties of Northern Ireland had smaller wins than Longford, the only six counties in the whole country with prizes in single figures and that's not surprising, the population in Northern Ireland (six counties) mainly purchase UK Premium Bonds.
Co Cavan had 48 prizes, but over the border in Co Fermanagh they only had 3 prizes and Co Armagh only 3 prizes, now turn that around, there's more wins on UK Premium Bonds in Northern Ireland (six counties) than the rest of the 26 counties, all down to population purchase.

FoolsGold1

Thank you, but no, no, not Bitcoin !!!

degrassinoel

worded wrote: »

Blind Childeren reach into a metal drums

This is a gob smacking read about the sweeps tickets

http://www.independent.ie/opinion/analysis/irish-sweepstake-scandal-remains-a-lesson-to-us-all-26237690.html

An article from 2003 referring to the draws in 1930.. man, i doubt very much they still do that lol

tuisginideach

degrassinoel wrote: »

An article from 2003 referring to the draws in 1930.. man, i doubt very much they still do that lol

Definitely don't still do that - the Sweep doesn't exist any more!

worded

tuisginideach wrote: »

Definitely don't still do that - the Sweep doesn't exist any more!

The last draw was in 1986

It was a complete con job for 50 years ! That's quite a run

https://en.m.wikipedia.org/wiki/Irish_Hospitals%27_Sweepstake

dxhound2005

Prize Bonds will be going for 60 years come this September. Back then a single bond cost more than a weeks wages for many people. That's quite a run and no sign of them slowing down.

This is how they did the draw up until 1993. I don't know if it involved any blind children or even blindfolded children.

http://www.irishstatutebook.ie/eli/1957/si/179/made/en/print

The system then changed to a software based random number generator.

http://www.irishstatutebook.ie/eli/1993/si/337/made/en/print

Many millions of prizes have been paid out, including a few to myself. If someone can explain this mysterious system which gives out special prizes please let me in on the deal. But don't tell me to cash in old bonds and buy new ones for the same amount. That makes no sense. The bond that won €50 for me this week is ten years old.

prizebondloser

How long does it take before the physical bond usually arrives? (I requested the bond numbers by email but that was a no go!)

I purchased in the post office on Monday 03/07

I guess they may be backlogged!

pbwinner

Winnings on 14th July 2017: €0
Last win 7th July 2017: €50
Total winnings on €25k from Feb 2011 to date: €2400
2011: €75 x 4 €300
2012: €75 x 6 €450
2013: €50 x 12 €600
2014: €50 x 9 €450
2015: €50 x 5 €250
2016: €50 x 5 €250
2017: €50 x 2 €100

tuisginideach

Congratulations you have new winners.
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50

Praise the Lord!!!! :):):):)


P.S. - and no, I didn't phone them up (though I did feel like doing that) and threaten to cash in my bonds! This brings me up to just under 60% of last year's winnings to date.

Cork Lass

tuisginideach wrote: »

Congratulations you have new winners.
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50

Praise the Lord!!!! :):):):)


P.S. - and no, I didn't phone them up (though I did feel like doing that) and threaten to cash in my bonds! This brings me up to just under 60% of last year's winnings to date.

Well done to you. Nothing again for us.

worded

dxhound2005 wrote: »

My €10K block came up with another winner today, just two weeks after the previous one. That makes €100 won by that block in each of 2014, 2015, 2016 and 2017 to date.

Congratulations you have new winners.

Draw Date
Prize Value
Bond Number
07 July 2017
€50
GI471715

Were you emailed or did you hand to log in ?

Sligo Quay

Nothing today, last win, last win June 2nd €50 euro.

Cute Hoor

tuisginideach wrote: »

Congratulations you have new winners.
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50
14 July 2017 €50

Praise the Lord!!!! :):):):)


P.S. - and no, I didn't phone them up (though I did feel like doing that) and threaten to cash in my bonds! This brings me up to just under 60% of last year's winnings to date.

There was no need to ring them, they were looking at your sad/angry faces here every week and took pity on you. Heartiest congrats.

Nothing for me today :(:(:(:(:(:(:(:(:(:

tuisginideach

Hope we'll all move from purple to yellow faces next week!

L'prof

dxhound2005 wrote: »

Pity the good people of Longford. Their county got only 14 prizes today. Dublin got nearly 3,000.

Only works out at about 6.5 times more per capita. I'd imagine there's more wealth and disposable income in Dublin so not too surprising really

dxhound2005

Bonanza day for Longford yesterday, 30 prizes, the same as Monaghan. Longford TD's must have been busy writing in to get more prizes. Someone in Japan won as well.

Cute Hoor

dxhound2005 wrote: »

Bonanza day for Longford yesterday, 30 prizes, the same as Monaghan. Longford TD's must have been busy writing in to get more prizes. Someone in Japan won as well.

You can't bate them Japanese TDs

dxhound2005

I have a bond issue date 13 January 2017 from the AGA series. My latest one arrived today issue date 14 July in the AHX series. I calculate that approx 50 million bonds have been issued in the first six months of this year valued at €312 million.

I think we did an exercise like this for 2016 and there was over €700 million value issued. The second half of the year is probably more lucrative with Christmas being included.

For people wondering why they don't win prizes, that is another 50 million "tickets" in the draw up against your tickets. There must be nearly 500 million bonds in every draw now. Every week 499,992,000 of them are losers.

Cork Lass

dxhound2005 wrote: »

I have a bond issue date 13 January 2017 from the AGA series. My latest one arrived today issue date 14 July in the AHX series. I calculate that approx 50 million bonds have been issued in the first six months of this year valued at €312 million.

I think we did an exercise like this for 2016 and there was over €700 million value issued. The second half of the year is probably more lucrative with Christmas being included.

For people wondering why they don't win prizes, that is another 50 million "tickets" in the draw up against your tickets. There must be nearly 500 million bonds in every draw now. Every week 499,992,000 of them are losers.

I always thought that the prize fund increased in accordance with the amount of bonds. Am I right? We are considering taking out our money and doing something else with it - just not sure yet.

tuisginideach

I have a feeling that only happens in hindsight and on a downward trend!

dxhound2005

The prize fund is recalculated at the end of each month. It went from 7214 prizes in June to 7293 this month. From their FAQ's.

6. How many prizes are there?

The National Treasury Management Agency (NTMA) sets the variable percentage rate used to calculate the annual prize fund.

Effective from July 2016 this variable percentage rate is set at 0.85% of the total value of prize bonds outstanding.

The value of the prize fund is recalculated at the end of every month, so the total value of prizes paid out by the NTM changes each month in line with the monthly net sales of prize bonds.

Effective from December 2016 approximately 6,500 prizes are awarded each week:

Cork Lass

I wonder how many bonds are in circulation at present?

Agent Smyth

Cork Lass wrote: »

I wonder how many bonds are in circulation at present?

Given that the PB fund was €3,069,082,352 at the end of June,
there would be around 491 million bonds in circulation.
This grows by at least a million bonds every week,
sometimes closer to one and a half million.

So on the 28th of July there will be about 5 million new bonds in the draw competing for the 7293 prizes.
In March 2013 there were around 272 million bonds competing for 9168 weekly prizes,
now we have 491 million bonds competing for 7293 weekly prizes.

And we wonder why we're not winning any more

Cork Lass

^^^^^^^
Not looking good for us so