How Prize Bonds work Prize Bonds are available in units of €6.25. There is a minimum purchase of 4 units costing €25. Prize Bonds are entered into a weekly draw with prizes ranging in value from €50 to €50,000, with a €250,000 prize awarded four times a year. Thousands of cash prizes are awarded each week. You can choose from two Prize Bond winnings payment options: 1. Prizes can be automatically paid into Bondholder's bank account on provision of bank account details. OR 2. Prizes may be automatically reinvested in new Prize Bonds, on your behalf, for inclusion in future draws. Please note: Where bank details are not provided, your prizes will default to automatic reinvestment in new Prize Bonds on your behalf. Both options provide customers with quick and easy access to prizes. Prize Bonds notify all Prize Bond winners by post with a new bond certificate for automatic reinvestment or confirmation letter for prizes paid to bank account. Prize payment method can be chosen when completing a purchase 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 State Savings, Fexco Centre, Killorglin, FREEPOST, Co. Kerry, V93 WN9T B) Signing in to State Savings Online and selecting your Prize Bond winnings payment option in your Prize Bond settings. FAQs When are the draws? The Prize Bond draw usually takes place every week and nearly always on a Friday. Details of the next draw are on the Prize Bonds page of our website. The draw results may be available online from 12.30pm. How many prizes are there? The National Treasury Management Agency (NTMA) sets the variable percentage rate used to calculate the prize fund. Effective from February 2021 this variable percentage rate is set at 0.35% 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. As at the end of December 2020, the value of the Prize Bond fund was in excess of €4.4 billion. Approximately 4,300 prizes are awarded each week: €250,000 - Awarded in the last draw in March, June, September and December €50,000 - Awarded in each weekly draw other than when the €250,000 prizes are available €1,000 - 10 prizes each week €500 - 10 prizes each week €50 - all other prizes* *The number of €50 prizes will change on a monthly basis in line with the changes in the value of the Prize Fund. To view recent draw results click here. Is my Prize Bond included in every draw? A registered Prize Bond is included in every draw until it is encashed. With Prize Bonds you are eligible to win not just once, but every week. Each individual Prize Bond is eligible to win one prize in every draw. 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, software-driven, random number generation system (the “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 serial 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 serial numbers (in descending order of amount) in the order in which the Prize Bond serial 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 Prize Bond can only win one prize in each weekly draw. Following the 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 Bond winners by post with a new bond certificate for automatic reinvestment or confirmation letter for prizes paid to your bank account. To ensure that you can be notified of any winnings, it is important that you inform us if you change address. Click here to get a Change of Address form or for details on how to change your address on our records please telephone 0818 20 50 60 / 01 705 7200. Get timely notifications of your prizes by registering for State Savings Online where you can view details of your wins. You can choose from two Prize Bond winnings payment options: Prizes may be automatically paid into Bondholder's bank account on provision of bank account details. OR If bank details are not provided, your prizes will be automatically reinvested into new Prize Bonds on your behalf for inclusion in future draws. Both options provide customers with quick and easy access to prizes. Prize Bond winnings payment method can be chosen when completing a purchase 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 State Savings, Fexco Centre, Killorglin, FREEPOST, Co Kerry, V93 WN9T B) Signing in to State Savings Online and selecting your Prize Bond winnings payment option in your Prize Bond settings.