The Republic's longest-running prize draw notched up sales of €133.3 million last year, as online sales of prize bonds almost doubled.
The Prize Bond Company said it was pleased with sales through its online channel, which jumped 90 per cent to €11.6 million, because it indicated that younger people were buying the bonds.
Sales of prize bonds, which the company describes as a tax-free and risk-free investment, have increased almost 80 per cent over the past five years. However, gross sales increased only marginally overall in 2006 as competition in the savings and investment market increased.
Some 206,012 prize bonds were purchased last year, an increase of 4.7 per cent on 2005. Repayments to people who wanted to cash their prize bonds in were high at €104.3 million, which the company said was due to the high level of sales in recent years.
The value of prizes awarded in the weekly prize bond draws increased 9.4 per cent last year to €13.9 million, while the number of prizes awarded to prize bond holders climbed 12.2 per cent to 145,793. The value of the prize bond fund rose 4.9 per cent last year to €588.8 million.
Prize Bond Company chairman Michael O'Keeffe said consumers liked the security of prize bonds, which was helping keep sales strong. "They know they have a reasonably good chance of winning and they're not going to lose their money," he said.
Mr O'Keeffe said the Prize Bond Company, which operates the prize bond scheme on behalf of the National Treasury Management Agency, hoped to attract some of the money maturing from Special Savings Incentive Accounts (SSIAs). The prize bond scheme has been running for 50 years, over which time unclaimed prizes have built up to a sum of €1.2 million.
A booklet containing details of all unclaimed prizes is available from post offices and can be found on TV3's Threetext page 705 and on prizebonds.ie.
Prize bonds are eligible for a monthly jackpot prize of €150,000 and a weekly cash draw of more than 2,800 prizes. The minimum purchase of bonds costs €25.
