Skip to main content

Horserace Totalisator Board

Volume 502: debated on Wednesday 16 December 2009

To ask the Secretary of State for Culture, Media and Sport what the monetary value was of funds held by the Tote in unpaid winnings in each of the last 10 years. (307407)

The Tote has advised that gross figures for uncollected winnings recorded at the relevant financial year ends are:

Financial year

Total dividends unclaimed (£)

2009

1,041,131

2008

1,169,293

2007

1,033,620

2006

1,069,281

2005

943,604

2004

968,536

2003

858,503

2002

746,833

2001

667,401

For winning Tote pool bets that are uncollected, the liability to pay the winning ticket holder remains with the Tote as a contractual debt for six years (until a claim is time barred under the statute of limitations).

Accounting policies allow these unpaid dividends, less a provision based on the Tote's experience of likely volumes of late claims, to be counted into the Tote pool's yearly profit. This is, in turn, entirely paid through to Racing within the Tote's “Contribution to Racing” that is described in the Tote's annual report and accounts.