Prize bond-holders received record prize money of €42 million last year, a 17 per cent jump on 2010.

Despite that, the annual report of the Prize Bond Company says the value of the fund at the end of 2011 was €1.45 billion, its highest ever.

During the year, the number of prizes won in the weekly draws jumped by more than a quarter to 385,078.

On the other side of the equation, bond purchases were 3 per cent ahead of 2010 at 339,000. Gross sales amouonted to €311 million.

After allowing for encashments, net sales in 2011 were €118 million.

The company said there had been a 11 per cent rise in prize bond sales in the first quarter of 2012.