The number of prizes awarded each week depends on the total size of the Prize Bond fund. It is currently calculated at a variable rate of 0.85% of the fund size per annum and is recalculated at the start of each month. This currently provides over 5,000 prizes every week.
The following is the prize structure:
- Quarterly €1 Million Prize
The quarterly €1 Million Prize is awarded in the last draw of every quarter, i.e. March, June, September and December.
- Weekly Top Prize €50,000, other than when the €1 Million prize is awarded.
- 10 prizes @ €1,000
- 10 prizes @ €500
- All remaining prizes @ €50
As the fund grows, additional prizes will be awarded in the €50 category. The calculation of the prize fund is based on the value of prize bonds outstanding at the end of each month. Therefore, the number of prizes awarded each month can rise or fall in line with the value of the prize fund.
The NTMA can amend the number and value of prizes at any time and changes to the rate or prize structure will be advertised in the main daily newspapers and on www.StateSavings.ie.