N.J. Lottery goes from zero to highest tax rate in the USA
Adding insult to injury, 11% taxes are retroactive back to Jan. 1
Local Mega Millions winner calls it Pathetic money grab , as feel-good story about workers' winning jackpot is transformed into an example of oppressive government that finds it easier to take from a few lucky winners than to stop wasteful government handouts and spending.
The limits of luck are becoming clear to Lynn Sellari, whose Cash 5 lottery ticket left her with a windfall of money in May.
Over the past few days, Se ...
Jul 2, 2009, 11:40 pm - Lottery News forum
Feds freeze online poker champ's winnings
Federal officials order banks to freeze millions in online poker winnings
On the Sunday before Memorial Day, David made the big time.
Winning $10,000 in an online poker tournament made him eligible for the upcoming World Series of Poker, the game's premier event, where hundreds of players amateur and professional descend on Las Vegas from around the world to play for a multimillion-dollar pot.
To register, he simply had to cash a check cut by a company that processed payments for the po ...
Jun 11, 2009, 11:20 pm - Lottery News forum
Internet gambling bill awaits house vote
Legislation seeks to enable some forms of online gambling such as Internet poker and wagering on horse racing
Congress is moving closer to passing legislation that will relieve U.S. financial services companies from implementing bans on Internet gambling as the Payments System Protection Act (H.R. 6870) was approved by the House Committee on Financial Services and appears headed for a possible vote by the full House next week.
Pushed by the committee's chairman, Rep. Barney Frank, D-Mass., ...
Jun 10, 2009, 7:51 pm - Lottery News forum
Online poker group says gov't seized $30M in player payouts
In the latest skirmish in the battle over Internet gambling, online poker advocates say the government has frozen more than $30 million in payouts affecting thousands of players.
The Poker Players Alliance released a statement Tuesday claiming that the U.S. attorney for the Southern District of New York instructed four banks to freeze accounts belonging to online payment processors. John Pappas, the group's executive director, claims the frozen accounts contain funds owed to 27,000 players wh ...
Jun 10, 2009, 7:45 pm - Lottery News forum
Tennessee Lottery shortfall requires reserves
$10 million needed to fully fund scholarship grants for students
Are computerized drawings hurting sales? Will the Tennessee Lottery bring back real ball drawings? Why is Powerball always blamed for poor financial showing in Tennessee?
The state of Tennessee probably will have to pull about $10 million from reserves to keep lottery scholarships fully funded this year, budget officials said after reporting a revenue shortfall last week.
State Budget Director Bill Bradley said the state w ...
May 4, 2009, 6:35 pm - Lottery News forum
Bill limiting lottery prizes of people on public aid fails
See previous story at www.lotterypost.com/news/191985.
A proposal that would limit Tennessee lottery winners on state or federal assistance to $600 failed in the House State Government Subcommittee.
The measure sponsored by Rep. Stacey Campfield, a Knoxville Republican, failed Wednesday for lack of a second.
Campfield says people receiving assistance should not be spending money on lottery tickets, but rather on education or to put food in their children's mouths.
The proposal would ...
Apr 28, 2009, 10:57 pm - Lottery News forum
Tennessee may cap lottery winnings at $600 for poor
The Tennessee Legislature is considering a bill that could end up making life more difficult for the poor or could help them, depending on your point of view.
The bill at the center of the issue is scheduled to be discussed at a committee hearing Wednesday. It would prohibit anyone receiving state or federal assistance, sometimes called welfare, from winning $600 or more in the state lottery.
The bill's sponsor, Rep. Stacey Campfield (Knoxville), said that if someone can't afford the basic ...
Apr 7, 2009, 11:31 pm - Lottery News forum
N.C. lottery revenues redirected away from education
Lottery opponents warned it would happen; they were right
State lawmakers voiced concern today over a transfer of proceeds from lottery-ticket sales from school construction to the state's general fund.
Gov. Bev Perdue's office also clarified details of the transfer today, a day after school systems learned they would lose this quarter's state funding for school construction.
Perdue's office said today that the funding being withheld, $37 million from lottery profits and $5 million from ...
Feb 27, 2009, 9:36 am - Lottery News forum
Illinois Senate president hopes to expand lottery
Internet sales being contemplated
Hoping to squeeze more money out of the state lottery, Illinois Senate President John Cullerton wants to sell tickets online and hire a private company to manage and market the games.
Cullerton thinks new technology and fresh ideas could help Illinois facing what could be a $9 billion hole in next year's budget dramatically boost lottery revenues.
I would venture to say you could potentially even double it, the Chicago Democrat said in a recent intervi ...
Feb 16, 2009, 9:38 pm - Lottery News forum
Kentucky blocked from seizing gambling domain names
Kentucky may not seize 141 online casinos' Internet domain names in an attempt to block them from operating within the state's borders, a three-judge appeals panel ruled.
In a 2-1 opinion Tuesday, the Kentucky Court of Appeals panel said an Internet domain name is not a gambling device. That left the Franklin County Circuit Court without jurisdiction in the matter.
It stretches credulity to conclude that a series of numbers, or Internet address, can be said to constitute a 'machine or any ...
Jan 21, 2009, 4:47 pm - Lottery News forum