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Gambling : Putting Dormant Betting Accounts to Use

New British minister introduces a novel idea
 
Punters who have left money lying untended in betting accounts for protracted periods may need to rediscover their funds before a new UK government initiative is implemented.
 
The recently elected Coalition government in the UK – and specifically the minister for Tourism and Heritage, John Penrose – is studying ways in which dormant betting accounts can be better used.
 
The minister has asked MP Don Foster, the Liberal Democrat MP for Bath, to compile a report into abandoned betting accounts and other unclaimed winnings. The report will look at how much money is left abandoned in betting accounts and uncover the value of unclaimed winning tickets.
 
A statement from the government’s Department of Culture, Media and Sport at http://www.culture.gov.uk/news/media_releases/7265.aspx notes that millions lying dormant in betting accounts could be used to improve public sports facilities and clubs
 
“There is potential for some really good causes to benefit from this money - but we have to look at all the options first. That’s why I’ve asked Don Foster to lead this review and leave no stone unturned,” said Penrose.
 
“Every day thousands of people bet on the outcome of sporting events. Therefore it seems a natural fit that funds from abandoned betting accounts should be used to benefit grassroots sports projects.”
 
Foster said: “I’m delighted to be leading this project and look forward to completing it before the year is out. I’ll be meeting representatives from all parts of the industry 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.”
 
If the rightful owners of these winnings cannot be located the cash could be put to good use, benefitting local communities through investing in sport.
 
Work will be done to determine how a betting account can be classed as “dormant” and clarify any legal ramifications surrounding the use of the money. The potential legal rights of any claimants will need to be an important consideration when looking at the scope of a proposal. 
 
Customers will still be able to reclaim their money at any time if they are able to prove their right to it.
 
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 John Penrose by the end of the year.
 
Foster will be meeting interested parties throughout the autumn to gather views and information. Once the report has been considered a formal consultation process will follow.



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AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

Historic weekend at Americas CardRoom - ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.

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