Many of us will be having a flutter on the Grand National this weekend. For most of us it’s a harmless bit of fun but we’re actually spending more than ever.
Betting turnover on UK horse racing’s most famous event is expected to exceed £150m for the first time this year, with a spokesperson from one major firm predicting that one in four UK adults will bet on the race, judging by their overall figures.
But how does £150m compare with our regular expenditure and national trends? Using the latest monthly figures from The Money Charity, we worked out that £150m could roughly mean the following:
The average UK deposit for mortgage is now £37,441 = 4006 UK mortgage deposits.
Parents now spend a record £231,843 on raising a child to their 21st birthday = 647 childrencould be raised to the age of 21.
It costs £51.12to fill a 50 litre unleaded tank = 2.9m unleaded cars filled.
The average total debt per household – including mortgages – was £54,261 in February = 2764 people’s household debt including mortgage could be cleared.
Total credit card debt in February 2016 was £63.82bn. Per household this is £2,364 = 63,451 households’ credit card debt could be paid off
Food for thought maybe as we join the work sweepstake this weekend!