Wednesday 7 December 2016

1981 prize bond ticket scoops €1m for punter

Published 31/07/2010 | 05:00

A LUCKY punter has won €1m on a 29-year-old prize bond.

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The winner, who lives in Kilkenny, bought the ticket in 1981 for £5 -- or the equivalent of €6.25 -- at a time when a pint of milk cost 15p and a loaf of bread would set you back 38p.

The prize bond company said yesterday that old tickets were uncommon but did pop up from time to time.

€1m is won every month by prize bond holders while a further top prize of €20,000 is awarded in the weekly draw.

Founded in 1957, the prize bond system is the country's longest-running draw. The company running it is a joint venture between An Post and financial services firm Fexco. Prize bonds are state-guaranteed products which offer cash prizes. All winnings are tax free and the bonds can be cashed in at any time after the minimum holding period of three months.

The prize fund hit €1bn for the first time in history earlier this month and the company paid out €28m in 2009.

Irish Independent

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