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Savings shunned as World Cup fever takes hold

31 May 2006
One in three British adults (34 per cent) intends to gamble on the World Cup or the National Lottery over the next two months, according to research from Liverpool Victoria.

The UK's largest friendly society also says that almost the same proportion (29 per cent) do not intend to put any money towards their savings throughout the World Cup in June and July.

Over the entire two-month period, the average Briton will gamble nearly £26 and save £135, although 27 per cent of 18 to 24 year-olds will not save anything at all.

"While a lot of people still intend to gamble substantial amounts over the period of the World Cup, the important message about the need to save does seem to be getting through to some people," said Nigel Snell, Liverpool Victoria's head of corporate communications.

"However, the well publicised savings gap would be reduced further if more people diverted some of their gambling money into regular savings," he continued.

Mr Snell added that women seemed to be better with their finances than men, especially at resisting the allure of the world's most famous football tournament.

"Encouragingly, women seem to have the right idea in this regard, gambling less and saving proportionally more," he concluded.

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