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Ohio Lottery officials exploring other ways to pay winning-ticket holders

Topic closed. 23 replies. Last post 1 year ago by jlindros.

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New Member
Houston
United States
Member #61602
May 29, 2008
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Posted: June 22, 2015, 4:30 pm - IP Logged

Just wondering. Here (In Texas) you have to go to a claim center to collect anything over $600 at which point they will with hold an amount for taxes (I believe it is 25%). If the winnings are distributed by debit card or some such, will they with hold taxes, even on small winnings? Would that mean a winner may have to file taxes with multiple 1099's showing all winnings and with holdings, or would they all be lumped together on one 1099. Lot of tax questions if such a system were put in play.

    Bondi Junction
    Australia
    Member #57242
    December 24, 2007
    1102 Posts
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    Posted: June 22, 2015, 9:34 pm - IP Logged

    Ohio Lottery officials are considering new options to pay some winners because retailers now have less cash on hand to give out to those holding winning tickets.

    Lottery winners one day might receive payment cards or have their winnings electronically transferred to an account, the Northeast Ohio Media Group reported.

    Retailers can redeem winning tickets of up to $599, but Greg Bowers, Ohio Lottery finance director, said some retailers don't have enough cash on hand to pay out the prizes because of the increased use of credit and debit cards.

    "It is a hot topic in the lottery industry," he said.

    Bowers said he is not aware of any retailer who has been unable to pay winnings, but the problem can occur. About 85 percent of prizes are paid by retailers.

    Winners of prizes between $600 and $5,000 can obtain a claim form at retailers to send in or they can receive cash from 192 banks across the state for a fee of $10.

    Those who win more than $5,000 must contact a regional lottery office.

    "This has been a struggle on how to get people their money because they want it fast," Lottery Director Dennis Berg said. "And certain people in this culture want cash."

    Lottery officials said younger players likely would prefer another option than cash because they often don't carry a lot of money.

    If cashless payouts are implemented, some retailers might be allowed to cash winning tickets between $600 and $5,000.

    The Michigan Lottery introduced a debit card two years ago that allows players to buy tickets and have prizes up to $600 loaded on the card. But the lottery discontinued the card earlier this month.

    This is one reason why I play by subscription. Small prizes are automatically credited to my subscription account, which can be used as part payment on renewal, or cashed in at any time. I get an email telling me that I have won a prize, I can then login to my subscription account to see how much.

    If I have a big win, which I am still waiting for, they will contact me with the good news and make arrangements for payment.

    We all get a lot out of lotteries!

      dpoly1's avatar - driver
      PA
      United States
      Member #66141
      October 16, 2008
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      Posted: June 23, 2015, 12:10 am - IP Logged

      Just tell them that you will come back when they have the cash

      dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

       

      Eschew Poverty ........... Vote Conservative!

        Goteki54's avatar - Lottery-007.jpg
        Baltimore, MD
        United States
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        May 30, 2013
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        Posted: June 23, 2015, 6:33 am - IP Logged

        The best places to go where a person won't have the problem of the retailer being short on cash to pay out is gas stations and grocery stores. However, alternative payouts could spread nationwide if the Ohio Lottery implements a plan that is successful and could be held up as a model for other lotteries to adapt, that's if other lotteries aren't already working on their own plans.

        Following the trends and patterns means following the money!Banana

          HoLeeKau's avatar - YheaShea
          Idaho
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          July 17, 2010
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          Posted: June 23, 2015, 7:49 pm - IP Logged

          Not feeling putting lottery winnings on a debit card AT ALL seems like another way to control and manipulate your lottery monies...

          I agree, it would only be a matter of time before the state decides to change the law to give the state tax commission access to these transactions.  Then everyone would have to claim all their wins and prove losses every single year or be charged with tax evasion. 

          Do states share their returns with the IRS?  That would be even more scary.

          Nope, I'll take the cash please.


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            March 25, 2011
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            Posted: June 24, 2015, 11:14 am - IP Logged

            i don't see this as a problem at all. everyone knows you have to go to the grocery store to cash the ticket since these small convenience stores usually don't have the cash on hand. no one seems to mind to have to do this at all since they need food and don't have to tip at the service desk at the supermarket. it is a no brainer just for the no tip factor. if you cash it where you bought it the clerk who sold it is looking for a tip. by cashing it elsewhere they more than likely will not even know you won thus dramatically reducing the guilt for not tipping. worse than that is cashing it at a bar. for example a keno ticket. you feel and look like a chump if you don't tip the bartender when you hit say a 450.00 keno. so smart people just put it in their pocket and cash it tomorrow at the grocery store. just a theory if you are opposed to tipping. not justified unless seller issues you a quick pik, then maybe deserves a tip because he or she controlled your ticket by pushing a button at the precise time.


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              June 16, 2014
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              Posted: June 24, 2015, 3:58 pm - IP Logged

              I don't see anything wrong with cash payout. Are they trying to create a problem where there is none?. Disapprove

              icam with your comment.

               

              i hope it don't change here in nyc/nj tri-state.Thumbs Down

              or down south in NC where i play much(thx to familia) i don't want this.

               

              ADIOS


                United States
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                June 16, 2014
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                Posted: June 24, 2015, 4:02 pm - IP Logged

                I agree, it would only be a matter of time before the state decides to change the law to give the state tax commission access to these transactions.  Then everyone would have to claim all their wins and prove losses every single year or be charged with tax evasion. 

                Do states share their returns with the IRS?  That would be even more scary.

                Nope, I'll take the cash please.

                yep. Stop stop  messin' with our lotteries.I hope this do not happen out where i am...

                Store owners sometimes i hear do pull the,'Oh i don't have it right now." Come back later.

                So far,for me i have not experience that. However,a few have who i know,and it's not cool.

                But,they sure are QUICK to take the dinero $$$$ when we play, arent' they, HoLee  smdh

                 

                I agree, cash please,thank you... LOL

                 

                adios

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                  Alpena, Michigan
                  United States
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                  May 5, 2015
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                  Posted: June 25, 2015, 8:06 pm - IP Logged

                  I went to the regional office of the Michigan lottery and had to wait 2 days to collect on my ticket. On my 1st trip, I waited 4 hours.  The office is about a 60 mile round trip. Why not just designate a local bank in each town to cash the tickets?