Top prize increased by Prize Bond Company
The Prize Bond Company today announced that its top prize is to be increased to €1m, up from the previous top prize of €150,000.
The €1m prize draw will take place every year on the last Friday before Christmas, and the top prize in every month other than December is being increased to €500,000.
This major change to the prize structure is to mark the 50th Anniversary of the Prize Bond scheme, with the first ever Prize Bond draw taking place in September 1957. Since then, over one million prizes have been awarded, with a total value in excess of €250m.
The new prize structure commences with the draw on Friday, September 7, 2007. The other existing prizes of €20,000, €1,000, €250 and €75 are being retained.
There will be no change to the unit price of €6.25 per Prize Bond. All eligible Prize Bonds are entered into all Prize Bond draws, including the draw for the new Christmas Jackpot Prize of €1m.
