Pennies in Football Pools Swell Into a Big Industry: Huge Postal Gains One day last April Reuben Lo an East End Londoner, invested sixpence, says the "Sunday Express."
He was a poor man, and a lot of thought and careful consideration went into even that investment.
Reuben weighed the pros and cons before he plunged. His prize was a fortune sufficient to keep himself and his family in luxury for the rest of their lives.
His reward was £30,780—the biggest dividend ever paid in a football pool.
What is the history of this industry, the fastest growing in Britain to-day; an industry which, in fifteen years, has reached a turnover of £750,000 week—£30,000,000 in one single football season?
Let us go back to 1922. In that year, Mr. J. J, Barnard, of Birmingham, had a brain-wave. Why, he asked himself, should bookmakers lay themselves open to possible—sometimes inevitable—loss by laying predetermined odds against certain combinations of football match results?
Why not pool all the money staked, deduct a percentage for profit and expenses, and divide the balance between those people who had forecast correct combinations of matches? Why not indeed? The more he thought about it, the more feasible the idea seemed. It looked fair to both sides, Mr, Barnard set to work.
But others saw the wisdom of that notion, too. The Moores Brothers, of. Liverpool were soon in the field. Vernon Sangster was not far behind.
These men argued that, whereas a man might not be able to afford to gamble pounds or shillings, at least he could risk a few pence for the Saturday flutter. So they started the penny pool Last season one firm paid out over four million winners, and another paid out in their penny pool alone dividends amounting to more than £350,000. sum, and if it is not correct a polite reminder is sent to you saying so.
Text read from the printed page and cleaned; old type leaves the occasional error.