In late July of 2010 an investigation was underway into players accounts left dormant with millions at stake in the UK. John Penrose, Minister of Tourism and Heritage delegated Don Foster MP to look into the abandoned betting accounts and compile a report of his findings. John Penrose’s main objective is to put these unclaimed funds to good use. To keep within the the gambling arena, Penrose is taking in consideration to benefit sports projects. Due to the thousands of people who bet on sports it would only seem fitting according to Penrose. Allowing extra funds to improve sports facilities could generate revenue in a time of economical struggle.
Don Foster has completed his report and turned it into the Government. “I’d like to thank Don for all his hard work in putting this report together and for everyone in the industry who has contributed with their views,” said John Penrose. “I’ll be looking at this report in detail, particularly in light of our work on the regulatory future of remote gambling to see whether we are able to make sure sporting good causes can benefit in the future.”
The dormant money comes from online gambling accounts including online bingo, casino, poker and sport books. The real question is why are so many accounts left abandoned? In many cases due to strict terms and conditions of operators the players did not have easy withdrawal processing and simply gave up. Such strict guidelines and delay tactics benefit the operator while drawing interest on money left in accounts. Clear cut terms and conditions are necessary to implement as well as better regulatory legislation.
Money taken from these accounts to benefit the sporting industry are allowing players to claim what is righteously theirs if they can prove it is a legitimate win. Some customers are not happy with the appropriation of funds claiming that it unfair to the player who were denied withdrawals from the operator in the first place.
It would seem only feasible to look into why customers are not getting paid. This should take precedence rather then finding ways to spend money that is not rightfully theirs.