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Dormant millions to improve sports facilities
The government is to look into the possibility of using abandoned betting accounts and other unclaimed winnings to benefit good causes.
John Penrose, minister for tourism and heritage said: "There is potential for some really good causes to benefit from this money. We have to look at all the options first but it seems a natural fit that funds from abandoned betting accounts should be used to benefits grassroots sports projects." Don Foster MP has been tasked with compiling a report into how much money would be involved, as well as determining how a betting account can be classified as dormant and clarifying any legal ramifications surrounding the use of the money.
He said: "I'll be meeting representatives from all parts of the industry throughout the autumn to gain views and suggestions on how this can work. "It would be great to see some local sporting facilities and initiatives getting some extra funding in these difficult financial times."
The review stems from a pledge in the Coalition Agreement to look into the best use of abandoned betting accounts. Foster will present his findings - along with a possible proposal of new legislation - to the minister by the end of the year. Once the report has been considered a formal consultation process will follow.
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