Major land and online UK sports betting companies are combining to launch a charity for grassroots sport that could help fund a new generation of Olympic stars, reports Business Times Online this week.Those involved include Ladbrokes, Betfair and Sportech, and the target is to raise at least GBP 10 million.
 
In introducing the project, the three companies are hoping that other reputable gambling companies will join them in setting up a charity trust to raise cash for British sportsmen and women. Full details of the scheme are currently pending a formal announcement, but the companies involved have also been talking to the British government about the project.