Welcome Guest
Log In | Register )
You last visited January 8, 2009, 4:21 pm

Mega lottery bucks go unclaimed every year

Last post 2 months ago by myzeus. 22 comments.

Page 3 of 3 BackGo to Page
Print E-mail Link
ICNUMBERS's avatar - the eye
Standard Member
Regular
Messy Michigan
United States
Member #64935
August 28, 2008
67 Posts
Offline
Posted: October 6, 2008, 10:16 pm - IP Logged Bottom

in June of 2001, a New Jersey winner of a $46 million Big Game lottery jackpot was able to collect his prize after the deadline because — get this — he stuck the winning ticket in an envelope addressed to the lottery and dropped it in a mailbox a day before the deadline.  It arrived three days after the deadline, but since the postmark was before the deadline, he was paid the big bucks.

The N.J. winner's ticket was in a drawer full of junk for nearly a year before he found it.

When he told his wife about sending the ticket via regular mail (not even certified mail), her response was, "Are you crazy?"

 

I would have choked him!!!!  If that was my ticket I would have driven to cash it in the second I found out I won.  I can understand mailing it if it were a few hundred or a grand but 46 MILLION??????? He must not have needed the $$$ very badly!!

GamerMom,

I would most definately say that this guy put the press in press your luck. I wonder if he would do it the same way again.

IC#'s

Remember we are the decisions that we make, please take the time to educate.Stooges

Standard Member
Regular
Northern California
United States
Member #20270
August 9, 2005
128 Posts
Offline
Posted: October 7, 2008, 5:58 pm - IP Logged Bottom Top

CA treats these prizes as two distinct classes (as required by law). Most states do the same or similar (with a few exceptions).

 

unPAID prizes are prizes with values of $559 or less that are never redeemed. In any online game prize structure with a 50% payout, over time, you will end up very close to the 2% figure attributed to Alborg above (meaning a game designed at 50% will actually payout at 48%). By law in CA (again, a lot of states have similar rules) those UNPAID prizes must be returned to players (which is what propels the CA Lottery "promo ticket" fund). People buy a bunch of tickets, maybe they don't check them, they get lost, they go through the wash, etc.

 

unCLAIMED prizes have a value of $600 and above and would necessarily have had to be claimed (taxes withheld, etc.) By law in CA, unCLAIMED prizes go directly to the beneficiary once the claim period has expired.

myzeus's avatar - Apollo
Standard Member
New Member
New Member
Ohio
United States
Member #60163
March 24, 2008
49 Posts
Offline
Posted: November 25, 2008, 12:34 am - IP Logged Bottom Top

 I bet 99% of unclaimed prizes are small prizes worth about 1~5 bucks. Most people won't even bother to claim the prize unless it's significantly large.

I would claim it anyways. I would apply the small wins toward a future huge win.

Sandy