Should lotteries have a cooling-off period before paying out jackpots?

Reply #16

maringoman — Mon, 27 Jan 2014 04:31:15 GMT

You know it

Reply #15

RJOh — Mon, 27 Jan 2014 03:31:44 GMT

In my state, winners aren't required to make a claim the day after the drawing, they have up to 180 days to make their claims unless they are a jackpot winner who want the cash option. The option to take cash instead of an annuity is only good for 60 days. Other states have similar rules that may last up to a year.

Reply #14

schmuckatelly — Mon, 27 Jan 2014 02:56:05 GMT

Reply #13

Shelby Mustang — Sun, 26 Jan 2014 12:33:10 GMT

Well you have 180 to a year in some case to claim it. Isnt that enough time to get your house so to speak in order? Me Im not going to need a cooling off period, Im gonna need a heating up to the boiling point period LOL

Reply #12

Slick Nick — Sun, 26 Jan 2014 11:40:53 GMT

Reply #11

kapla — Sun, 26 Jan 2014 11:25:52 GMT

Reply #10

savagegoose — Sun, 26 Jan 2014 11:20:46 GMT

the only cooling off period i want is in this

Reply #9

rdgrnr — Sun, 26 Jan 2014 10:44:59 GMT

Yeah, maybe they should do the same with people's income tax refunds too.

I'm sure that would go over real good too.

Reply #8

onlymoney — Sun, 26 Jan 2014 08:01:25 GMT

Reply #7

CDanaT — Sun, 26 Jan 2014 06:18:26 GMT

Sorry that has to be that way in California....Doesn't surprise me as much debt as that state has.

I do have to agree with Rdgrnr on this one about the lawmakers controlling aspects of the lottery system when it comes to them getting their $$ share first. They can't even run the darn Post Office or Amtrak properly.

I think I remember a recent statement over the last 4 plus years and it goes something like this:

If you like you doctor and your health care plan, you can keep it.Peri... [ More ]

Reply #6

rdgrnr — Sun, 26 Jan 2014 04:42:31 GMT

Here's how politicians and government hacks handle our money: http://www.usdebtclock.org/

They now have this country buried in over 17 Trillion Dollars of debt.

They should be the last people on earth to give anyone financial advice.

Reply #5

ttech10 — Sun, 26 Jan 2014 04:36:54 GMT

30 days isn't going to do much for someone. You could give some people a year before paying out and they would still blow it, whiles others you could give it to them the minute they find out they won and they'll never have money issues again.

So, no to a cooling-off period .

Reply #4

weshar75 — Sun, 26 Jan 2014 04:30:11 GMT

You do not get your money right away so I would say no to waiting because you will wait for the lottery to collect your money before they pay you. That is plenty of time to look for help from professional people to help with your money if that is something you want to do with your money.-weshar75

Reply #3

mrcraft — Sun, 26 Jan 2014 04:19:08 GMT

In California, we don't have a choice... for any prize $600 and over, it can take up to 6 - 8 weeks to process a claim once received by the Lottery.

Reply #2

sully16 — Sun, 26 Jan 2014 04:10:55 GMT

Exactly, well said

Reply #1

rdgrnr — Sun, 26 Jan 2014 04:08:35 GMT

I don't like government agencies telling me what to do or deciding what I do without my consent.

Government schmucks should do their jobs and mind their own business.

I won it - give it to me - none of your business what I do with it.

Should lotteries have a cooling-off period before paying out jackpots?

myturn — Sun, 26 Jan 2014 03:49:25 GMT

When people win a large jackpot, they may be on a high and not make rational decisions. A cooling-off period would give people a breathing space before they make any major decisions.

If winners have relatives and friends seeking help with something, a cooling-off period would give the winners more time to decide if it is the right thing to do. Or will this help be a never-ending story.

Maybe a 30 day cooling-off period for prizes payouts and a longer period for larger prizes.