Last year, sales of new Prize Bonds dropped to €351m, a significant decline from €489m in 2022, with consumer advocate Brendan Burgess highlighting their unsuitability as long-term investments. The total fund value also fell to €4.46bn, while 386,307 bonds were sold—27% less than prior years. Burgess criticized the low prize fund return of 1% against 3.5% in Britain, indicating that, with current inflation, consumers effectively lost money. Despite an increase in prize distributions, the overall sentiment suggests Prize Bonds do not equate to viable long-term financial growth.
Consumer advocate Brendan Burgess argues that Prize Bonds are not a suitable long-term investment, emphasizing their poor returns compared to other options, particularly under inflationary pressures.
According to the Prize Bond Company, the monetary value of prizes increased by 89% last year, yet this translated to a mere 1% return for consumers, raising concerns about real value against inflation.
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