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You can find the current article at its original source at https://www.theguardian.com/business/2016/sep/13/prize-draw-littlewoods-football-pools-buyer-jackpot-littlewoods-sportech
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| Football Pools owner sells out for nearly £100m | Football Pools owner sells out for nearly £100m |
| (35 minutes later) | |
| The Football Pools, once a staple of the British Saturday teatime as families crowded around TVs and radios with fingers crossed for eight score draws, is to change hands in a near £100m deal. | The Football Pools, once a staple of the British Saturday teatime as families crowded around TVs and radios with fingers crossed for eight score draws, is to change hands in a near £100m deal. |
| The National Lottery came close to killing off the pools, but 300,000 people still spend an average of just over £3 a week in the hope of scooping the maximum prize of £3m. | The National Lottery came close to killing off the pools, but 300,000 people still spend an average of just over £3 a week in the hope of scooping the maximum prize of £3m. |
| The three big pools operators, Littlewoods, Vernons and Zetters merged between 2000 and 2007. The owners, Sportech, after many years of dwindling profits, have now agreed to sell to a new company run by the existing management for £97.3m. | The three big pools operators, Littlewoods, Vernons and Zetters merged between 2000 and 2007. The owners, Sportech, after many years of dwindling profits, have now agreed to sell to a new company run by the existing management for £97.3m. |
| The buyers are pinning their hopes on an online revival, with players still able to “perm eight from ten” football matches – but rather than resting on the result from Bury v Workington, online punters are offered Barcelona v Celtic or Paris St Germain v Arsenal. Spot the Ball, the game on the reverse of the paper coupons, can also be played online. | The buyers are pinning their hopes on an online revival, with players still able to “perm eight from ten” football matches – but rather than resting on the result from Bury v Workington, online punters are offered Barcelona v Celtic or Paris St Germain v Arsenal. Spot the Ball, the game on the reverse of the paper coupons, can also be played online. |
| At its peak in the 1970s and 1980s the pools had 15 million regular punters, helped by an army of door-to-door coupon collectors. | At its peak in the 1970s and 1980s the pools had 15 million regular punters, helped by an army of door-to-door coupon collectors. |
| When Leeds factory worker Viv Nicholson and husband Keith promised to “spend, spend, spend” after bagging £152,319 in a 1961 pools win – equal to around £3m today – they captured the spirit of the new consumer age, and prompted atabloid frenzy. | When Leeds factory worker Viv Nicholson and husband Keith promised to “spend, spend, spend” after bagging £152,319 in a 1961 pools win – equal to around £3m today – they captured the spirit of the new consumer age, and prompted atabloid frenzy. |
| But Keith Nicholson died in 1965 and by the end of the 60s the fortune was gone after Viv spent compulsively. Viv Nicholson died last year. | |
| Football pools started in 1923 when Littlewoods sold them outside Manchester United’s Old Trafford ground. Its success drew criticism from politicians and religious leaders, with the then Labour leader, Ramsay MacDonald, calling it “a disease which spread downwards to the industrious poor from the idle rich”. | Football pools started in 1923 when Littlewoods sold them outside Manchester United’s Old Trafford ground. Its success drew criticism from politicians and religious leaders, with the then Labour leader, Ramsay MacDonald, calling it “a disease which spread downwards to the industrious poor from the idle rich”. |
| The game allowed players to place small stakes on football results with the chance of winning a big prize from the pooled money. The pools says it has paid out £3.2bn in prize money to more than 61 million people. | The game allowed players to place small stakes on football results with the chance of winning a big prize from the pooled money. The pools says it has paid out £3.2bn in prize money to more than 61 million people. |
| Players, often in workplace syndicates, filled in paper coupons that they submitted by post or through an agent. The aim of the main game was, and still is, to predict eight score draws, although the pools now has various add-on games. | Players, often in workplace syndicates, filled in paper coupons that they submitted by post or through an agent. The aim of the main game was, and still is, to predict eight score draws, although the pools now has various add-on games. |
| After the harsh winter of 1963, when football matches were scrapped for three weeks running, the ‘Pools Panel’ was created to predict scores, and such was the intense interest they were broadcast live on BBC television. | After the harsh winter of 1963, when football matches were scrapped for three weeks running, the ‘Pools Panel’ was created to predict scores, and such was the intense interest they were broadcast live on BBC television. |
| Robert James, senior lecturer in history at Portsmouth University, said: “The pools was significant because it gave the working class a sense of identity and community and of aspiration to something better by winning something. | Robert James, senior lecturer in history at Portsmouth University, said: “The pools was significant because it gave the working class a sense of identity and community and of aspiration to something better by winning something. |
| “Football was seen as the working class game and the pools helped give people a sense of community through leisure. They didn’t have to be at the game to debate about it. The pools also helped legitimise gambling because initially gambling was illegal and was done through the bookie’s runner and it was secretive and underhand.” | “Football was seen as the working class game and the pools helped give people a sense of community through leisure. They didn’t have to be at the game to debate about it. The pools also helped legitimise gambling because initially gambling was illegal and was done through the bookie’s runner and it was secretive and underhand.” |
| Rival operations such as Vernons and Zetters sprang up and by the 1980s around one-in-four of the British population were doing the pools. In 1986, Littlewoods paid out the first £1m jackpot when £1,017,890 was shared by 11 nurses from Devizes in Wiltshire. | Rival operations such as Vernons and Zetters sprang up and by the 1980s around one-in-four of the British population were doing the pools. In 1986, Littlewoods paid out the first £1m jackpot when £1,017,890 was shared by 11 nurses from Devizes in Wiltshire. |
| Sportech bought Littlewoods Gaming, which included the pools, in 2000 and in 2007 it acquired Vernons and Zetters. Combining the three pools was meant to strengthen the game against the National Lottery, which launched in 1994. | Sportech bought Littlewoods Gaming, which included the pools, in 2000 and in 2007 it acquired Vernons and Zetters. Combining the three pools was meant to strengthen the game against the National Lottery, which launched in 1994. |
| But the pools struggled against the might of the lottery. It still had 10 million players in 1994, but this fell to 700,000 by 2007 and has halved again since. Sportech said it stabilised earnings in the first half of this year and decided the time was right to sell and focus on its US gaming businesses. | But the pools struggled against the might of the lottery. It still had 10 million players in 1994, but this fell to 700,000 by 2007 and has halved again since. Sportech said it stabilised earnings in the first half of this year and decided the time was right to sell and focus on its US gaming businesses. |
| Sportech said: “The board of Sportech believes that the proposed disposal represents an attractive opportunity to realise the value of The Football Pools following the implementation of its modernisation programme.” | Sportech said: “The board of Sportech believes that the proposed disposal represents an attractive opportunity to realise the value of The Football Pools following the implementation of its modernisation programme.” |
| A new company will float on the stock market after raising funds from investors. It will be run by Conleth Byrne, managing director of the Football Pools, and Carl Lynn, its finance director. | A new company will float on the stock market after raising funds from investors. It will be run by Conleth Byrne, managing director of the Football Pools, and Carl Lynn, its finance director. |
| Other ways to win | Other ways to win |
| The national lottery | The national lottery |
| Was set up by John Major’s government and is operated by Camelot, which recently said that more than £35bn had been raised for good causes since it started running the lottery in 1994. The ticket price of the twice-weekly main Lotto game was increased to £2 in 2013, and Camelot later changed the prizes, guaranteeing to pay out £1m to someone each week. Players select six numbers from 1 to 59 (previously it was 49) or pick Lucky Dip. Its other games include EuroMillions and Thunderball. Colin and Chris Weir from the Scottish town of Largs won £161m on EuroMillions in 2011, making them the biggest lottery winners in Europe. However, the price of a EuroMillions ticket will rise from £2 to £2.50 on 24 September. | Was set up by John Major’s government and is operated by Camelot, which recently said that more than £35bn had been raised for good causes since it started running the lottery in 1994. The ticket price of the twice-weekly main Lotto game was increased to £2 in 2013, and Camelot later changed the prizes, guaranteeing to pay out £1m to someone each week. Players select six numbers from 1 to 59 (previously it was 49) or pick Lucky Dip. Its other games include EuroMillions and Thunderball. Colin and Chris Weir from the Scottish town of Largs won £161m on EuroMillions in 2011, making them the biggest lottery winners in Europe. However, the price of a EuroMillions ticket will rise from £2 to £2.50 on 24 September. |
| People’s postcode lottery | People’s postcode lottery |
| A charity lottery where, for £10 a month, you use your postcode to try to win prizes. It claims that since 2005 players have raised more than £142m for charities and community projects. The most a single ticket can win is 10% of the draw revenue, up to a maximum of £400,000. Of every £1 spent, a minimum of 30p goes to charity, 40p is used for prizes and 30p is used to cover the expenses in running the lotteries. In 2016 it expects to raise more than £40m for charity. Novamedia, the parent company of People’s Postcode Lottery, operates similar schemes in the Netherlands and Sweden. | A charity lottery where, for £10 a month, you use your postcode to try to win prizes. It claims that since 2005 players have raised more than £142m for charities and community projects. The most a single ticket can win is 10% of the draw revenue, up to a maximum of £400,000. Of every £1 spent, a minimum of 30p goes to charity, 40p is used for prizes and 30p is used to cover the expenses in running the lotteries. In 2016 it expects to raise more than £40m for charity. Novamedia, the parent company of People’s Postcode Lottery, operates similar schemes in the Netherlands and Sweden. |
| The health lottery | The health lottery |
| This is not a national lottery: it’s 51 local society lotteries, each representing one or more local authority areas across Britain, aimed at raising money for health-related good causes. Each local society lottery takes turns at participating. It costs £1 to play each line, and there are 32,000 participating retailers, or it can be played online. Twenty pence in every £1 goes to support good causes. The top prize, for matching five numbers, is equal to 10% of total ticket sales, capped at £100,000. Projects that receive funding include support for older people to keep fit, respite programmes to give carers a break, and healthy living initiatives. | This is not a national lottery: it’s 51 local society lotteries, each representing one or more local authority areas across Britain, aimed at raising money for health-related good causes. Each local society lottery takes turns at participating. It costs £1 to play each line, and there are 32,000 participating retailers, or it can be played online. Twenty pence in every £1 goes to support good causes. The top prize, for matching five numbers, is equal to 10% of total ticket sales, capped at £100,000. Projects that receive funding include support for older people to keep fit, respite programmes to give carers a break, and healthy living initiatives. |
| Premium bonds | Premium bonds |
| Celebrated their 60th birthday earlier this year – Harold Macmillan announced their launch on 17 April 1956. There are now around 21 million bond holders, and | Celebrated their 60th birthday earlier this year – Harold Macmillan announced their launch on 17 April 1956. There are now around 21 million bond holders, and |