The government has published its Horserace Betting and Olympic Lottery Bill.

Part one of the bill enables the government to sell the Horserace Totalisator Board – the Tote – to a Racing Trust and authorises the abolition of the Horserace Betting Levy Board – the Levy Board.

The bill's second section allows dedicated Olympic Lottery games to be set up – as part of the National Lottery – to help fund the staging of the 2012 Olympics, should London’s bid be successful.

Of the new Olympic Lottery games, culture secretary, Tessa Jowell, said: “We hope that a dedicated lottery could raise up to £750m to help fund the games, which would bring benefits across the UK including regeneration and increased investment.” Details: www.publications.parliament.uk/pa/pabills.htm