Unclaimed lottery winnings

Reply #4

anonymous77 — Tue, 28 Feb 2006 10:22:04 GMT

If my memory is correct, Federal taxes alone account for approximately 10%+ of the whole prize money in MM and PB. So, when taxes are also taken into account, that percentage number (say, 35%) would go down even further.

Reply #3

LckyLary — Tue, 28 Feb 2006 05:35:13 GMT

I don't understand why the ratio is 40 percent to begin with. If they raised it, people might play more to make up the difference. I wonder how much unclaimed is those discarded scratch-offs where people toss it after only revealing a few spots. I found one where the bonus box was unscratched (but no prize) and sometimes one where it paid maybe 4 dollars but someone missed a match. People buy 10 tickets at a time so they hurry through them and miss spots.

Then, after you get back your 40 pe... [ More ]

Reply #2

fxsterling — Tue, 28 Feb 2006 04:06:41 GMT

the lotto is stealing the 12% should go to good losers no more cash to eduction a super jack-pot

Reply #1

ryanm — Tue, 28 Feb 2006 03:38:30 GMT

I'm pretty sure the lotteries use all unclaimed prizes toward the purposes they were designed for, such as education.

Unclaimed lottery winnings

LotteryPlayer — Tue, 28 Feb 2006 03:26:19 GMT

I read an article recently that said 12% of lottery winnings are never claimed. The unclaimed money is kept by the lottery.

So when a lottery says that lottery players have won 40% of the lottery money, since 12% of that 40% is never claimed, doesn't that mean only about 35% (40% minus [12% of 40%]) of the lottery money is actually returned to the lottery players?

It seems to me that the only fair thing for them to do is to put that money back into the jackpots.