I appreciate your feedback badgerboy but i feel the points system is reasonable. In my defence of giving 3 points for draw is quite simple. On a football coupon, if you had £1 on three homes you would be very lucky to get odds of 9/1, Three aways would be something around 16/1 whereas putting 3 draws on usually bring odds around the 32/1 scale. This is clear evidence that it is more difficult predicting draws than Home's or Away's, so it then begs the question, why not gain more points predicting the draws.
We done a similar points system in my work place a couple of years ago that are quite similar to your idea's and to an extent it worked in the way that there was a monthly prize fund as there was always a couple in with a chance in the final fourth week. However, there would obviously be no prize fund in my competition and with my proposed scoring system, it would give individuals the opportunity to score big weekly scores to establish a healthy lead, then in turn anyone struggling behind the frontrunners would choose predictions more thoroughly to enable them to catch up.