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Prize bond payout falls

PRIZE Bonds winnings are due to fall in the new year as a result of the decreasing cost of Government borrowing.

There will be fewer winners of €1,000, €100, and €50 prizes as there will be less money available to finance them.

However, the main monthly €1m Prize Bond draw and the top prize of €20,000 for each weekly draw will continue.

The NTMA, which administers the Prize Bonds scheme, plans in January to amend the formula by which it calculates the total prize money on offer which will mean a lower payout.