Coral Football Jackpot: The Modern Football Pools
The original football pools were almost like a forerunner to the National Lottery, with the chance to get rich quick proving irresistible to the nation. Winners became millionaires overnight and many became mini-celebrities either due to their success or because of their subsequent fall from grace.
However, whilst the football pools still exist, their popularity has dropped significantly. In recent years as some new pools-style products have grown massively in popularity and here we take a look at the Coral Football Jackpot.
What is Pool Betting?
The concept of pool betting can be applied in a number of ways, including the original football pools and also Tote’s pools products. The basic principle, however, is that the amount you receive for a winning bet is not based on fixed odds, but rather on how much money is wagered and the number of people that win.
In some countries, notably France, Australia and the USA, this form of betting, also known as pari-mutuel betting, is the main way of placing a wager. Whilst the bookies will give an estimate of what the odds will be, your exact returns are not known until after the event.
The total amount taken on the event is first subject to any taxes or fees, then the operator – be that the bookie, government or whoever is running the betting – takes their cut and then the remaining pool of cash is divided proportionately among those who backed the winner according to how much they wagered.
Both the Coral Football Jackpot uses this principle to some extent, although it offers a minimum prize too. The minimum ensures there is always a huge prize available, although the actual jackpots almost invariably end up larger anyway as the pool grows, especially if no one wins in a given week and the jackpot rolls over.
Coral Football Jackpot
Coral launched their Football Jackpot at the beginning of the 2013-14 football season with great fanfare… and a very tasty £1m jackpot which could be won for just a £1 stake. The odds of winning are significantly better than the National Lottery and whilst £1m isn’t as big as many lotto jackpots, entry costs only a pound, your chances of winning are much higher and you have a lot more control over what happens, not to mention a lot more fun watching the games unfold over the weekend.
The Coral Football Jackpot requires players to predict the outcome of 15 pre-selected games at the weekend, with most of those normally coming from the Premier League and Championship. You just select which side you think will win, or if it will be a draw, and then sit back – fingers crossed – and watch the games go your way over the weekend (games are usually split over Saturday and Sunday and sometimes Monday too).
Naturally, with 15 games to predict there is a large dose of luck needed to win but you can improve your chances by selecting more than one result on the toughest games, though naturally this increases the stake each time.
Alternatively you can do the equivalent of a lucky dip and let Coral choose for you. Interestingly – for the mathematicians at least – the odds of winning via a lucky dip are almost identical to your chances of winning the lottery jackpot at one in 14,348,907 (compared to just under one in 14m for the lottery). Of course, the reason we say your chances of winning the Coral Football Jackpot are so much better is that you don’t need to choose at random and each week there are several teams on the coupon whose odds (and form, et cetera) suggest their chances of winning are much better than the one in three picking at random gives you.
The Coral Football Jackpot reached a staggering £5m+ in December 2014 after numerous rollovers and when it was eventually won, four lucky winners went home with more than £1.3m each! From just a £1 stake, we’d say that’s not a bad weekend’s football betting!
The minimum jackpot is £100,000, which is still not to be sniffed at but with the difficulty of predicting five games it quickly rolls over to much higher amounts whilst there are also consolation prizes for getting 13 or 14 out of 15 and these too can be in the tens of thousands of pounds. Why not have a look what the current football jackpot at Coral is and give it a go – surely it’s worth a quid?! Oh, and Coral also give new customers a very generous £20 free bet for placing just a £5 paid bet so why not do that first to get even better value from Coral?