The World Cup in Germany will have a negative effect on savings throughout June and July, according to research.
Around one third will of UK residents intend to gamble during this summer's tournament, while the same number have no intention of saving in the period.
An average amount of £33 per bet per person will be placed on the World Cup in the UK, with the total spending on gambling around £173 million in the next two months, according to friendly society Liverpool Victoria.
However, some savings will be made this summer, at an average of £135 per person.
Youngsters are the least likely to make savings, 27 per cent of 18-24-year-olds plan to save nothing at all, while the 25 to 34 age group will be the biggest savers.
Nigel Snell, Liverpool Victoria’s head of corporate communications, said: "While a lot of people still intend to gamble substantial amounts over the period of the World Cup, the important message about the need to save does seems to be getting through to some people."
"However, the well publicised savings gap would be reduced further, if more people diverted some of their gambling money into regular savings."
Many are also likely to surf the web for online gambling and not just online savings this summer, with the average bet placed around £136 on the internet.
World Cup to hit UK savings, study shows
World Cup to hit UK savings, study shows
Tue, 30 May 2006
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