The Prize Bond Company has reported gross sales of prize bonds totalling €489.1m for 2023.
The company, which administers prize bonds on behalf of the National Treasury Management Agency for retail customers, published its annual report for 2023 today.
The report shows that the value of prize bond repayments was €531.9m, while the total sum invested at the end of 2023 was €4.65 billion.
There were 309,685 prizes awarded in 2023, with a total value of €24.1m - an increase of 31% on the previous year.
Over 9,000 prizes are awarded every week with a jackpot prize valued at €50,000, while a jackpot prize of €500,000 is awarded in the last weekly draw each month.
The report also noted that 21% of all prize bond sales last year were generated online, up from 19% in 2022.
An Post remains the main point of sale for prize bonds with over 51% purchased via the post office network in 2023, it also reveals.
Debbie Byrne, Chairperson of the Prize Bond Company, said the company's strong performance reflected continued customer confidence in prize bonds as a unique retail savings product.
"The number of prizes issued increased by 31% in 2023 along with an increase of 51% to the value of these prizes. The opportunity to win prizes remains a defining feature of the Prize Bonds product and part of its enduring popularity," she said.
"I am encouraged to see an increase in the usage of our self-serve online services, a convenient way for customers to view and manage their holdings," she added.
At the end of 2023 unclaimed prizes - prizes not claimed after six months and which have accumulated since prize bonds was established in 1957 - decreased to €3.3m from €3.4m at the end of 2022.
Unclaimed prizes are held indefinitely until claimed by a bond holder and every prize winner is contacted at the address last registered with the Prize Bond Company.
