According to a report in the timesonline.co.uk, some of the biggest online gambling companies in the UK are planning to give back to grassroots sport.

Betting company Ladbrokes, football pool operator Sportech and bet exchange Betfair have reportedly signed on for a charity that could "help fund a new generation of Olympic stars" to the tune of £10 million.

The Times also reports that the three are encouraging fellow betting companies to also contribute to this "sports trust."

The report goes on to say that the government has been approached and that an announcement is expected to be made soon.