Bets to back jobs

Marjorie Virgo

The objectives are to encourage punters to gamble on investment in local businesses - instead of horses, dogs and football - and to channel a good proportion of the gambling money into investment in those businesses.

'Encourage punters to gamble on investment in local businesses'

To carry this out, prospectuses give information on a selection of local companies printed in local newspapers. Access is via self-service terminals in High Street premises. After deduction of administrative expenses, 50% of the total sum wagered is invested in the most popular choice of business and awarded as an investment to the punter who wins a weekly lottery. 50% is invested in a portfolio of shares in all the companies, awarded twelve months later to the punter who most accurately predicts the performance of those companies in the year ahead.

Marjorie Virgo, 2 Eastbourne Avenue, Acton, London, W3 6JN.

Comment by Valerie Yule

A simpler approach might be to have shares in local industries (with safeguards against fraud) available for sale in betting shops.

Valerie Yule, 57 Waimarie Drive, Mount Waverley, Victoria, Australia 3149 (tel 807 4315).

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