How do Prize Bonds work?

How Prize Bonds work

Prize Bonds are available in units of €6.25. There is a minimum purchase of €25 (4 units) and a maximum purchase of €250,000.00 (40,000 units). Prize Bonds are entered into a weekly draw with thousands of prizes ranging in value from €75 to €50,000, with a jackpot prize valued at €500,000 awarded in the last draw every month.

Prize Payment Options

There are two Prize Bond winnings payment options to choose from:

1. Prizes can be automatically paid into the registered Bondholder(s) bank account on provision of a SEPA IBAN and proof document validating the IBAN.

OR

2. Prizes may be automatically reinvested in new Prize Bonds, in the name(s) of the registered bondholder(s), on their behalf, for inclusion in future draws.

Please note:  Where bank details are not provided, the prize payment option will default to automatic reinvestment in new Prize Bonds in the name(s) of the registered bondholder(s).

Both options provide customers with quick and easy access to prizes.

Prize Bonds notify all prize winners by post or by online notification. Customers registered for Ireland State Savings Online* will receive a prize win notification following the draw.

*Get timely notifications of your prizes by registering for Ireland State Savings Online where you can receive notification of any prizes on the day of the draw, and you can view details of any recent and previous prizes.

Prize payment option can be chosen when completing a Prize Bond application form. Alternatively you can change your prize payment method at any time by;

A) Completing a Prize Payments Option Form and sending it by post to Ireland State Savings, Fexco Centre, Killorglin, FREEPOST, Co. Kerry, V93 WN9T

B) Signing in to Ireland State Savings Online and selecting your Prize Bond winnings payment option in your Prize Bond settings.

Note: If providing an IBAN for Prize Payment Option we require copy of a bank statement header verifying the account name(s) and IBAN, if not already submitted to Ireland State Savings.

Prize Bond FAQs

When are the draws?

The Prize Bond draw usually takes place every week. The draw results are normally available online. To view recent draw results click here.

How many prizes are there?

The National Treasury Management Agency (NTMA) sets the variable percentage rate used to calculate the prize fund. Effective from October 2023, the variable rate is 1.00% of the total value of Prize Bonds outstanding.

The value of the prize fund is recalculated at the end of every month, in line with the monthly net sales of Prize Bonds.

Thousands of prizes are awarded each week:

  • €500,000 – Jackpot Prize awarded in the last draw each month

  • €50,000 – 1 prize each week

  • €1,000 – 20 prizes each week

  • €500 – 20 prizes each week

  • €75 – all other prizes*

*The number of €75 prizes will change on a monthly basis in line with the change in the value of the Prize Fund.

To view recent draw results click here.

Is my Prize Bond included in every draw?

All eligible Prize Bonds numbers* are included in each draw until such time as the Prize Bond number is repaid. Each individual Prize Bond number is eligible to win one prize in every draw.

*An eligible Prize Bond number is one that is active and has not been repaid.

How are Prize Bond winners selected in the weekly draw?

The Prize Bond 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.

What is the procedure for the selection of Prize Bonds to be awarded prizes in the draw?

The Prize Bond draw is conducted using a computer based random number generation system.

In conducting the draw, the system generates a random series of numbers in the same format as a Prize Bond serial number. If the series of numbers that is generated includes any number for Prize Bonds that have already been encashed, the system will automatically remove these numbers from the series.

Prizes are awarded to the Prize Bond numbers (in descending order of amount) in the order in which the Prize Bond numbers were generated. This means that the highest valued prize is awarded to the first Prize Bond in the series, the second highest valued prize to the second Prize Bond in the series and so on until all prizes are awarded.

A single Prize Bond number is eligible to win one prize in each weekly draw.

The results of the Prize Bonds draw are published online here.

How do I know if I have won a prize?

Prize Bonds notify all prize winners by post or by online notification. Customers registered for Ireland State Savings Online* will receive an online prize win notification following the draw.

It is important that you keep your name and/or address up to date with Ireland State Savings to ensure you receive postal notification. Click here for information on how to update your personal details with Ireland State Savings including the Change of Name and or Address forms or contact us on 0818 20 50 60 / 01 705 7200.

*Get timely notifications of your prizes by registering for Ireland State Savings Online where you can receive notification of any prizes on the day of the draw, and you can view details of any recent and previous prizes.