Michigan Lottery teams with PayPal for online payments
The Michigan Lottery is teaming with PayPal to offer players a new way to fund their online accounts.
Starting Monday, the lottery says players may use PayPal to fund accounts to play online games. To make a deposit into their lottery account, players must have a balance in their PayPal account or the account must be linked to a financial institution account.
Players also may withdraw winnings and direct them to their accounts with the payments system company.
Lottery players can win up ...
Apr 15, 2016, 7:40 pm - Lottery News forum
Offshore gambling site laundered $2 million in Amazon gift cards, Feds say
The operators of an offshore gambling website that accepts online lottery wagers used Amazon gift cards to launder nearly $2 million over the past few years, a Department of Homeland Security investigator alleged in a recent application for a seizure warrant filed in the U.S. District Court in Philadelphia.
The filing alleges that the Costa Rica-based gambling site, 5Dimes, instructed U.S. customers to use Amazon gift cards to fund their 5Dimes online gambling wagers, in an effort to skirt th ...
Mar 15, 2016, 7:53 pm - Lottery News forum
Why you might go bankrupt if your next-door neighbor wins the lottery
Winning the lottery can be hazardous to your neighbors' financial health.
Research released this month by the Federal Reserve Bank of Philadelphia found a significant jump in bankruptcies among households living near someone who won a big lottery jackpot. The economists theorized that people may have seen the good fortune next door and felt pressure to accumulate more assets of their own, especially flashy purchases like cars, that they simply could not afford.
Income inequality induces p ...
Feb 16, 2016, 10:12 am - Lottery News forum
Pennsylvania Lottery testing payment with credit, debit cards
People can now use debit and credit cards to purchase Pennsylvania lottery tickets at nine Smoker's Express stores in the Harrisburg area as part of a new payment trial.
The Pennsylvania Lottery is testing out the financial viability of allowing people to use credit and debit cards to purchase draw and instant lottery tickets. The test, which started this week, is the result of an ever-growing population of Pennsylvanians that don't carry cash and can't play the Lottery.
We've been hearin ...
Feb 11, 2016, 3:50 pm - Lottery News forum
Ohio Lottery officials exploring other ways to pay winning-ticket holders
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 b ...
Jun 22, 2015, 7:57 am - Lottery News forum
N.C. school construction lottery money doesn't really build schools
Includes video report
Where does the North Carolina Education Lottery money go? You know, you buy a ticket, you put money into the education lottery, and you think all that money goes to North Carolina schools. But that is not quite how it works.
Of every dollar, 61% goes back into the lottery for prizes, 28% goes to education, and 11% go back to retailers and the lottery for administration.
Of that 28 percent for schools, the Education Lottery website says 45.8% goes to teacher pay, 20 ...
Jul 10, 2014, 8:50 am - Lottery News forum
Maryland Lottery used to launder drug money, federal authorities say
Federal prosecutors have accused a man they say is one of Baltimore's most notorious drug dealers of laundering the profits of his heroin-selling operation through the Maryland State Lottery, Las Vegas casinos and a local used-car dealership.
The allegations against Steven Blackwell, laid out in a revised indictment Wednesday, are the most detailed glimpse yet into Blackwell's dealings, which police believe led to a spate of deadly violence in the city throughout 2008 and 2009.
Blackwell i ...
Apr 28, 2011, 7:36 am - Lottery News forum
Forbes: Tonight's $312M Mega Millions lottery is a sound investment
Editor's Note: Tonight's $312 million Mega Millions drawing takes place at 11:00 pm Eastern Time (8:00 pm Pacific Time). The winning numbers will be published at USA Mega (www.usamega.com) and at Lottery Post's Lottery Results page.
Playing the lottery is a fool's errand. Everyone knows it's a losing gamble, that the house wins and that, especially as jackpots increase, the odds of winning are slightly lower than the odds of getting struck by lightning twice. (Just ask this guy.) In tonight's ...
Mar 25, 2011, 7:47 pm - Lottery News forum
N.C. Lottery snatches back some prizes
Some lottery winners have no luck.
Before anyone can claim a big prize, state law requires lottery officials to first check on whether the winner owes the government any money.
Since the first ticket went on sale in North Carolina in March 2006, the lottery has collected $1.3 million in back taxes, delinquent child support, overdue student loans and other debts. For some winners, the hit is a few hundred dollars out of thousands. For others, the debt wipes out their whole prize ...
Apr 28, 2009, 10:37 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