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 online. 

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.

How does the Prize Bond Draw work?

All Prize Bonds that have not been repaid are classified as “active Prize Bonds”. A Prize Bond that was issued but has been repaid, is classified as an “inactive Prize Bond”.  Each active Prize Bond is eligible to win one prize in each Prize Bond Draw. 

The Prize Bond Draw is electronic, and winning numbers are selected using a random number generator. The system generates a random series of numbers in the same format as a Prize Bond number. The number is matched with an active Prize Bond, and this process repeats until all prizes are awarded.  If the number is matched with an inactive Prize Bond, the system will automatically remove these numbers from the series.

The prizes are allocated in the order in which they were drawn, in descending order of value. 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. To view the current structure of the prize fund, click here.

The results of the Prize Bond weekly draws are published here.

The Prize Bond Draw is conducted by the Prize Bond Company under the supervision of an official from the National Treasury Management Agency (NTMA). 

The results of Prize Bond Draws are independently analysed by a third-party company specialising in statistical and data validation.

Prize Bond Draw Process

How do I know if I have won a prize?

Prize Bonds notify all Prize Bond winners by post or online.

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.