Benefits March 23, 2006

Poll: Office Pool Betting Business Getting More Brisk

March 23, 2006 (PLANSPONSOR.com) - Office betting pools are more popular than ever, according to a new survey by Vault.
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According to a news release, the 2006 Office Betting Pools Survey found that 67% of employees admitted to being in office betting pools, up from last year’s 61%. Meanwhile, 77% of respondents were asked if their fellow employees took part in office pools and answered yes.

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The most popular betting events remain the Super Bowl and regular NFL season play, at 65% and 61%, respectively. Vault reports that the NCAA Men’s Basketball Tournament garnered 57% of responses, while pregnancy pools rated 19%, the Academy Awards 13%, and the television reality shows, such as “Survivor,” “American Idol,” and “The Apprentice”, at 12%.

Poll results also included:

  • 73.5% of respondents take only five to 10 minutes to make their picks after further research at home.
  • 52.5% of respondents are aware that office pools may be illegal in some states, depending on circumstances.
  • 63% of respondents say that illegality doesn’t affect their participation in office pools.
  • 80.5% of respondents say that people do not take the possible illegality of office pools seriously.
  • 86% of offices do not have policies against office pools.
  • 2% of respondents have gotten into trouble with their bosses for participating in an office pool.
  • 76% of respondents said their primary motivation for participating was to have a little harmless fun at work.
  • 17% of respondents said their primary motivation for participating was to win money.
  • 7% of respondents said their primary motivation for participating was to prove their ability at picking winners.
  • 53% of respondents said their entry cost was about $5.
  • 28% of respondents said they paid about $10.
  • 10% of respondents said they paid $20 to enter an office betting pool.
  • 47% of respondents said they won $100 or under.
  • 18% of respondents said they won between $101 and $200.
  • 3% of respondents said they won $201 and $300.
  • 12% of respondents said they won $301 and $500.
  • 4% of respondents said they won over $1000.

Vault reported that some 328 respondents, representing a variety of industries, took part in the survey that is conducted each mid-February.

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