PROPERTY IS HOT – FOOTBALL IS NOT!

A 2010 survey of financial advisors has shown that confidence in the property market as an investment is flooding back.

There may still be a lot of uncertainty surrounding UK property prices, but a 2010 survey of financial advisors has shown that confidence in the market as an investment is flooding back. To mark the launch of a record ever slots jackpot, online casino operator 888.com conducted research on how the professionals would advise a winner to protect their £8,888,888. Over 80 per cent of IFA’s questioned believed that a substantial investment in the UK residential property market would prove prudent – with only 44% saying they would have recommended the same course of action 12 months ago. Although anyone scooping the Pirates Millions’ jackpot may be tempted to splash out on places in the sun, this option was less popular with IFAs with only a quarter recommending any foreign property investments. Over 90 per cent of respondents revealed that they would advise a winner to take a ‘budget’ from the money for personal extravagances such as cars, holidays of a lifetime and gifts for friends and family – but drew the line at long term labours of love. A quarter of those surveyed admitted that they would expect some winners from a gaming related prize to suggest investing in their favourite football clubs – with all of them revealing that they would determinedly advise clients against any long term involvement! Mark Garrood, managing director of The Financial Advice Bureau revealed that advising on investments would depend on heavily on the attitude of the winner. He said: “With a win as substantial as £8.88m the investment advice would rely heavily on the client’s attitude toward risk – and although you would usually expect someone that had won money to carry quite a high tolerance, in may not be so in this case as they could have won without any stake. “I would always advise someone to take some time to weigh up the advice they have been given and take a sensible budget aside to enjoy their win – becoming chairman of their town or city football club could be a surefire way of seeing their luck run out!” 888.com is offering users 3 completely free spins at the ground breaking prize, and, Itai Pazner, Senior Vice President COO 888.com, says the survey was a fun way of finding out how a winner might spend the cash. He said: “This is the biggest ever online slots jackpot and everyone who visits the site will be allowed 3 free spins the first time they play the game, without having to deposit any money or enter card details. “This will offer the unique opportunity for someone to become a multi-millionaire without paying a penny, and we believe it will really appeal to everyone from on-line casino regulars to those who play the lottery or buy the odd scratchcard. “We were very interested to see how the IFAs would advise a winner, although I am sure there are a few football chairman out there wishing that they thought differently!” To take up the free spins people should visit http://www.888.com/freespins/en/acq.htm?sr=354822 ENDS