€25k invested in prize bonds

Rackstar

robwen wrote: »

Don`t they automatically send a cheque to your address if you win so how are there unclaimed prizes?

Person moves and doesn't update their prize bonds?
Person gets cheque and doesn't cash?
Cheque gets lost in post?

FoolsGold1

Winnings from today's draw - €50
Last win 7/11/14 - €50

pbwinner

Winnings from today's draw: €0
Last win 3rd October 2014: €50
Total winnings since Feb 2011 on €25k: €1850

cold case

Thargor wrote: »

Timing it was a poor way of measuring it anyway, you'll get different times in different browsers/pcs and even if you didnt you had no way of measuring the rate it scrolled at. You should have just selected all and copied and pasted it into Excel then that would have given you an exact count.

It has to be a vast number anyway, for decades it was only the elderly buying them so there must be thousands of bonds thrown in skips every year after people pass away, same for all the ones given to kids and then lost over the years. They should be raising the prizes with all this unclaimed money not cutting them like they have been doing.

I know it is not very scientific, I just pressed on the mouse full speed and used a stopwatch!

However, my main concern, is all the numbers that have been cashed in, those numbers are still being drawn, even though there is no way they can win. Many times here people have mentioned that they are cashing in thousands worth of prize bonds and repurchasing new bonds, well those old numbers are still being used in draws, and therefore the chances of winning are even more remote.

Thargor

cold case wrote: »

I know it is not very scientific, I just pressed on the mouse full speed and used a stopwatch!

However, my main concern, is all the numbers that have been cashed in, those numbers are still being drawn, even though there is no way they can win. Many times here people have mentioned that they are cashing in thousands worth of prize bonds and repurchasing new bonds, well those old numbers are still being used in draws, and therefore the chances of winning are even more remote.

Where did you hear that? I would assume a bond number is retired or reassigned when its cashed in, if they were still playing on obsolete numbers with no hope of winning you'd expect the payouts to dwindle away to nothing over time.

Copa Mundial

I got gifted €100 worth of bonds for my 21st recently, in two minds whether or not I'll cash them in or keep them where they are.

FoolsGold1

I guess that whoever gave them to you was hoping that they'd sometime, sooner rather than later, produce a winner for you...and so they might...even the odd €50 could double your money!...nothing is sure, EXCEPT that if you cash them in now ~ you will be a "No hope-r"!! Good luck. :p

Mormegil

Rackstar wrote: »

Person moves and doesn't update their prize bonds?
Person gets cheque and doesn't cash?
Cheque gets lost in post?

I notice on the Unclaimed Prizes Bond tracker page there's now two options to search for when there was IIRC only one on the old website.

Now you can search for Unclaimed Prizes and Uncashed Prizes.


Anyone have any idea what the difference is?

FoolsGold1

Winnings from today's draw - €50
Last win 28/11/14 - €50

Thargor

Touch wood but the 2 big holders seem to be on a bit of a roll lately?

Im bringing my holding up to 40k next week after my Christmas bonus but still no win in the last 3 months :mad:

FoolsGold1

Best of luck. as they say..."It could be you..." €50 is mush better than nothing, but it's cod's wallop too!

Thargor

Well its definitely better than the banks and the markets are way too shaky to risk shares at the minute.

pbwinner

Winnings from today's draw: €0
Last win 3rd October 2014: €50
Total winnings since Feb 2011 on €25k: €1850

lorenzo87

Hey guys, I have 100 euro in the prizebonds, have won nothing. I am thinking about chucking a grand in next week. How safe is your money in there? Is there any possibility that something can go wrong?

Regards, Lorenzo.

Frogdog

lorenzo87 wrote: »

Hey guys, I have 100 euro in the prizebonds, have won nothing. I am thinking about chucking a grand in next week. How safe is your money in there? Is there any possibility that something can go wrong?

Regards, Lorenzo.

Your money is as safe as it can be in Ireland. It's guaranteed by the government.

lorenzo87

Frogdog wrote: »

Your money is as safe as it can be in Ireland. It's guaranteed by the government.

Thanks very much, I'll give it a bash.
When it comes to withdrawing the money, can it be sent straight into my bank account or does it always come by cheque?

topper_harley2

lorenzo87 wrote: »

Thanks very much, I'll give it a bash.
When it comes to withdrawing the money, can it be sent straight into my bank account or does it always come by cheque?

Have you actually visited the PB site? http://www.statesavings.ie/Downloads/PrizeBondsFAQs.pdf. And then the withdrawl form: http://www.statesavings.ie/Downloads/PrizebondsRepaymentForm.pdf

PB are pointless unless you have E100K plus. Throwing in a grand will win yo squat.

Please read this thread on AAM http://www.askaboutmoney.com/showthread.php?t=182819&highlight=prize+bond

Basically unless you have a huge (E100K+) pool, your chance of returning is poor.

lorenzo87

topper_harley2 wrote: »

Have you actually visited the PB site? http://www.statesavings.ie/Downloads/PrizeBondsFAQs.pdf. And then the withdrawl form: http://www.statesavings.ie/Downloads/PrizebondsRepaymentForm.pdf

PB are pointless unless you have E100K plus. Throwing in a grand will win yo squat.

Please read this thread on AAM http://www.askaboutmoney.com/showthread.php?t=182819&highlight=prize+bond

Basically unless you have a huge (E100K+) pool, your chance of returning is poor.

Throwing in a grand will lose me squat too, so why not take a chance? Can always keep topping it up. Thanks for the links.

topper_harley2

Fair enough but I would put the grand in a saver account with guaranteed interest. It's poor interest but guaranteed.

FoolsGold1

lorenzo87 wrote: »

Throwing in a grand will lose me squat too, so why not take a chance? Can always keep topping it up. Thanks for the links.

Fair play to you lorenzo87 - you deserve a win. Good luck!

lorenzo87

topper_harley2 wrote: »

Fair enough but I would put the grand in a saver account with guaranteed interest. It's poor interest but guaranteed.

The thought of that 20 euro interest isn't as appealing as the possibility of winning 50k or a million.

Cute Hoor

topper_harley2 wrote: »

Fair enough but I would put the grand in a saver account with guaranteed interest. It's poor interest but guaranteed.

I'm struggling with this one. As far as I can see the best interest rate you can get at the moment is 1.75%, so that is €17.50 on your €1,000, take off tax, usc etc and you are probably down at €9, would it get you a pint in Cafe en Seine?, and you have the hassle of declaring it to the Revenue as well. With a possibility (however limited) of winning big compared to a pint a year I certainly know which option I'd be picking.

FoolsGold1

Cute Hoor wrote: »

I'm struggling with this one. As far as I can see the best interest rate you can get at the moment is 1.75%, so that is €17.50 on your €1,000, take off tax, usc etc and you are probably down at €9, would it get you a pint in Cafe en Seine?, and you have the hassle of declaring it to the Revenue as well. With a possibility (however limited) of winning big compared to a pint a year I certainly know which option I'd be picking.

I think that you are very well-named! I am a "Fool" (Gold notwithstanding) but there is method in my madness. Good luck for a Christmas Million!

topper_harley2

Declare what to the revenue? You dont declare interest to revenue unless its over 3K in one year.

As I said each to their own, but the chances of winning even E50 is tiny on E1000 invested, let alone winning any of the larger prized. That's why people who received E100 worth as presents when they were kids fifty years ago still have them without ever winning anything.

The volume of them in circulation relative to your E1000 makes winning so tiny that the "excitement" of a chance of winning a million quickly fades IMO.

Thargor

Just one thing to remember, any money you put in is frozen for the first 3 months.

Taylor365

topper_harley2 wrote: »

As I said each to their own, but the chances of winning even E50 is tiny on E1000 invested, let alone winning any of the larger prized. That's why people who received E100 worth as presents when they were kids fifty years ago still have them without ever winning anything.

The volume of them in circulation relative to your E1000 makes winning so tiny that the "excitement" of a chance of winning a million quickly fades IMO.

If you win anything with 1000 in pbs, you damn well better spend it all on a lotto ticket because the odds are probably the same (winning 50 on 1000 pbs vs winning the lotto)

Seve OB

I put 5k into PB about a year ago.

Have won twice, €50 each time. don't think I would have made that much on interest, so I am quite happy to risk winning nothing with a safe investment as opposed to getting feck all interest.

At the end of the day, it's a gamble so people must remember that. but it is a gamble with basically no risk involved.

topper_harley2

Seve OB wrote: »

I put 5k into PB about a year ago.

Have won twice, €50 each time. don't think I would have made that much on interest, so I am quite happy to risk winning nothing with a safe investment as opposed to getting feck all interest.

At the end of the day, it's a gamble so people must remember that. but it is a gamble with basically no risk involved.

Actually, if you'd put the 5K in a two year fixed term account @ 2% AER you'd have just over E100 quid net interest, guaranteed.

lorenzo87

topper_harley2 wrote: »

Actually, if you'd put the 5K in a two year fixed term account @ 2% AER you'd have just over E100 quid net interest, guaranteed.

Uffffffffff.. Now that's something I must look into.. That means for 1k I'll make €20. That's my Vindaloo sorted, and I can even afford a few Poppadoms.

Cute Hoor

topper_harley2 wrote: »

Declare what to the revenue? You dont declare interest to revenue unless its over 3K in one year.

Do you not have to pay tax on all interest received? Should this not be included in your tax returns?