25 May 2012

Weather Lottery in Premiership deal

06/11/2006 Robert Tyerman

Keith Milhench, boss of AIM newcomer The Weather Lottery, says the affinity group lottery operator is signing up a top Premiership Football team as a new client. He says the company, which runs a lottery for affinity group members based on the Fahrenheit temperatures in certain cities around the world recorded in The Daily Telegraph, already has 1,500 clients, ranging from the Conservative and Scottish Nationalist Parties to Gloucester Rugby Club and the Northern Ballet, and is breaking even on annual turnover of £1.7 million.

‘New clients are now pure profit’, boasts Milhench, a former Toronto ice hockey player and coach, and ten per cent shareholder. Some 30,000 members and supporters of these groups contribute £1 a week to the lottery, which pays out smaller but much more frequent prizes than the National Lottery on what he argues are better odds.

They pay by standing order or credit or debit cards and so the fall-out rate is only four per cent, according to Milhench, who boasts ‘we could handle two million clients. We could never go bust,’ he adds.

Whether that makes The Weather Lottery shares at a sub-float 6p a better bet than the weather remains to be seen.

Companies: Weather Lottery (The)

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