€25k invested in prize bonds

honey12345

How much does the average person have in prize bonds???

I am thinking of putting another 30k into a prize bond I would take out the 10k prize bond that I have at the moment (as I have won nothing on that) so it would be a 40k prize bond plus the 30k prize bond that I already have. OR should I get another saving cert...... Hmmmmm!? Is it a good idea to have all of your savings in prize bonds?

Thargor

Ive basically just stopped winning anything on 50k for the last year now, waiting for some clarity in the markets over the next 6 months and then Ill move, pointless leaving it where it is.

One thing I am thinking about is when the oil price turns there could be a chance to double your money or at least getting in low on something like Shell which is currently giving a 9% dividend, Ill probably stick it out for now as a lot of people are saying things are not looking good in the markets and we are due a correction.

Sligo Quay

[QUOTE=honey12345;98268805Is it a good idea to have all of your savings in prize bonds?[/QUOTE]
No definitely not, maybe for a short period but definitely not for a long period unless your on a winning streak.

Agent Smyth

honey12345 wrote: »

How much does the average person have in prize bonds???

I am thinking of putting another 30k into a prize bond I would take out the 10k prize bond that I have at the moment (as I have won nothing on that) so it would be a 40k prize bond plus the 30k prize bond that I already have. OR should I get another saving cert...... Hmmmmm!? Is it a good idea to have all of your savings in prize bonds?

It depends on what you want from your savings, if you want a guarantied return then no is the answer but on the other hand the return from state savings is hardly worth getting excited about. The PBs may give you no return at all but it will give a moment of excitement every Friday followed by disappointment.

topper_harley2

If inflation were to rise, you'll be losing money by leaving it in PBs also, due to lack of return. Historically inflation runs about 2%. It's way lower currently, but could rise in future. Similar issue with low rates of deposit accounts, which is why more people are turning towards stocks (people who would never have considered this before I mean)

honey12345

Maybe I will just put it into a five and a half year saving cert with a guaranteed 7% interest instead.

tuisginideach

honey12345 wrote: »

Maybe I will just put it into a five and a half year saving cert with a guaranteed 7% interest instead.

Makes sense if you're sure you don't need access to it.

topper_harley2

If you're happy with 1.24% annually, DIRT free, then I would go for it over prize bonds. The Friday night "excitement" apparently linked to PBs doesn't appeal to me at all. As mentioned, make sure you don't need early access as bonds are not very liquid so there will be interest penalties for early withdrawl.

Agent Smyth

honey12345 wrote: »

Maybe I will just put it into a five and a half year saving cert with a guaranteed 7% interest instead.

Well the return will probably be better the PBs but I myself wouldn't feel comfortable locking my money in for that length of time, having said that there doesn't appear to be any other off the shelf product that gives a better return at the moment.
It might be an idea to have a chat with a independent financial advisor given that you do have a large chunk of change.

Essex Man

Taylor365 wrote: »

And both the same amount and time in prize bonds?

Be a good comparison, UK vs Irish.

Here are my results for 2015 : 40,000 euros in prize bonds (irl) won 100 euros , ie 0.25%
40,000 pounds in premium bonds (uk)won 575 pounds.ie 1.45%
not exactly life changing , but heres to 2016!

_Tombstone_

Couldn't see any admit they won big on here.

_Tombstone_

Did anyone actually win more than 100 on this thread?

On phone at the min, who oversees the draw? Who sets up the system?

Was reading about a lad that rigged the lotto in the US the other day, little bit of dodgy software all it took.

Can't trust computer draws.

tuisginideach

Essex Man wrote: »

Here are my results for 2015 : 40,000 euros in prize bonds (irl) won 100 euros , ie 0.25%
40,000 pounds in premium bonds (uk)won 575 pounds.ie 1.45%
not exactly life changing , but heres to 2016!

That's an interesting comparison.

I have 1 (I think) premium bond - for 50+ years - don't suppose I could ever expect any return on that!!!! I have uipdated my address and checked for outstanding prizes but to no avail!

honey12345

topper_harley2 wrote: »

If inflation were to rise, you'll be losing money by leaving it in PBs also, due to lack of return. Historically inflation runs about 2%. It's way lower currently, but could rise in future. Similar issue with low rates of deposit accounts, which is why more people are turning towards stocks (people who would never have considered this before I mean)

_Tombstone_ wrote: »

Did anyone actually win more than 100 on this thread?

On phone at the min, who oversees the draw? Who sets up the system?

Was reading about a lad that rigged the lotto in the US the other day, little bit of dodgy software all it took.

Can't trust computer draws.

Someone won 1000 euro before.

Sligo Quay

Draw took place today in lieu of Friday 1st, as usual NO WINNER:(
Yawn last win September 11th 2015 €50 euro.

tuisginideach

I must be in the good books - €50 today.

Agent Smyth

If my figures are correct it would seem the PB fund is about 2,442,816,000 Euro at the end of Dec 15,
Which means at the moment there are about 390,850,560 bonds.

During the year I reckon the PB fund grew by 266,448,000 Euro,
I would estimate that on average there was a net growth in the PB fund of 1,078,765 Euro each working day during year.

Interestingly the prize fund dropped in Dec from 8144 to 8113 prizes, that's the first time I can remember the prizes going down.

tuisginideach

From the Prizebonds website:
Note
-
the number of €50 prizes changes each month in line with changes in the prize fund which is recalculated each month.

So does that suggest there is less money in the Prizebonds generally in January '16 than there was in Dec '15 (or is the wording 'prizebond fund' a way of concealing a deterioration for PB holders) ?

alb

_Tombstone_ wrote: »

Did anyone actually win more than 100 on this thread?

On phone at the min, who oversees the draw? Who sets up the system?

Was reading about a lad that rigged the lotto in the US the other day, little bit of dodgy software all it took.

Can't trust computer draws.

Funny you mention that, it's already possible and free to find computer generated random numbers that are provably fair, or at least close enough to be useful for this purpose.

WhiteMan32

€50 win today on €36k

Last win: 1 X €50 on 9th Oct 2015

I wonder if and when PB prizes will be paid to winners by bank transfer instead of by cheque? Electronic payment of winnings would be far more ideal...and would save time having to queue at bank machine to lodge the cheque.

carrickbawn

Nothing here again this week.

zac8

WhiteMan32 wrote: »

I wonder if and when PB prizes will be paid to winners by bank transfer instead of by cheque? Electronic payment of winnings would be far more ideal...and would save time having to queue at bank machine to lodge the cheque.

You can get prizes paid by bank transfer.

scotchy

Good start to 2016...€50 win on about 20K yesterday:cool:

WhiteMan32

zac8 wrote: »

You can get prizes paid by bank transfer.

Really? OK I must see about arranging this for any of my future PB wins.

FoolsGold1

Nothing since €50 on 18th December, 2015.

carrickbawn

Nothing again today,, Sorry no new winners. They are not half as sorry as I am..
Last win 50 euros on 18th December on 160 k worth of bonds.. Waste of time.

pbwinner

tuisginideach wrote: »

From the Prizebonds website:
Note
-
the number of €50 prizes changes each month in line with changes in the prize fund which is recalculated each month.

So does that suggest there is less money in the Prizebonds generally in January '16 than there was in Dec '15 (or is the wording 'prizebond fund' a way of concealing a deterioration for PB holders) ?

I posted a graph a while back - a huge drop in €50 winners when they changed the fund structure.

pbwinner

WhiteMan32 wrote: »

Really? OK I must see about arranging this for any of my future PB wins.

Yes, that's how I get my winnings paid.

pbwinner

Winnings on 8 January 2016: €50
Last win 4 December 2015: €50
Total winnings since Feb 2011 on €25k: €2100

Negative_G

No win today. Last win 18th Dec.