Store owner's lottery bonus put on hold

Comment #6

TheGameGrl — Sat, 24 Mar 2007 00:20:42 GMT

I was right there with ya justex, with the way in which the terminology of commission was used. Still dont understand it, even after several post. Reckon the best I can come up with is to compare it to a standard adult who may at some point default on a loan , the bank says catch up or we'll penalize you, The state is just retaining this mans funds due til he can settle what is past due. His flaw is shutting down and basically cancelling his account with the state. Now they can say since hes... [ More ]

Comment #5

justxploring — Fri, 23 Mar 2007 01:51:15 GMT

I guess I misunderstood the use of the word commission in the article.

Comment #4

vincejr — Fri, 23 Mar 2007 00:16:09 GMT

There is nothing surprising about him having a balance due the lottery; that is how almost all lotteries sell their tickets.

For scratch tickets, each book has a face value (# of tickets x value of each ticket). The retailers are usually charged a percentage of the face value equal to the lottery's take on the ticket. For example, if the retailer commission on scratch tickets is 6%, then the lottery charges the retailer 94% of the face value of the book. This amount is usually delay billed f... [ More ]

Comment #3

konane — Thu, 22 Mar 2007 21:09:59 GMT

........ According to CT Lottery spokeswoman Diane Patterson, Zahid has not received his bonus because unfortunately, Mr. Zahid does owe some money to the lottery. At this time there is a net balance to the account.

The amount has not been disclosed.

According to Patterson, lottery vendors must maintain separate bank accounts dedicated to lottery monies.

There is no charge to the retailer to sell Lotto tickets, Patterson said, but vendors do pay a commission to the Lottery for each

Comment #2

johnph77 — Thu, 22 Mar 2007 20:54:54 GMT

Don't know whether there is a commission or not, but a transfer of money from the retailer to the Lottery for tickets sold has to take place. Maybe that's the hangup.

Comment #1

justxploring — Thu, 22 Mar 2007 19:19:37 GMT

Excuse my ignorance, but vendors pay a commission? I thought it was the other way around. Silly me.

Edit: Just checked out the FL web site. Under how to become a retailer it states:

Full service On-line and Scratch-Off products provided 5 percent commission on ticket sales 1 percent commission on cashing winning tickets No investment required No cost for equipment, fixtures or supplies Average $1,547 gross margin per square foot Attract high-frequency customers that boost traf... [ More ]

Store owner's lottery bonus put on hold

Lottery Post — Thu, 22 Mar 2007 19:12:00 GMT

The store owner who sold the unclaimed $3.5 million Connecticut Classic Lotto ticket in February will not be receiving his $10,000 sales commission unless he settles outstanding accounts with the state lottery, according to a spokeswoman for the lottery.

Zee Zahid, proprietor of Coventry Getty Mart, was to receive a $10,000 bonus for selling the winning ticket on Feb. 14, 2006.

But the expected windfall became more hassle than help for Zahid.

No, I didn't get the $10,000, and they gave... [ More ]