|Posted: August 10, 2008, 2:48 am - IP Logged|
An old boss of mine told me that some lottery retailers would not activate or settle books of instant tickets in order to keep the money in their bank account (In most states, about 95 cents out of every dollar spent on tickets would go back to the lottery.). Some retailers would not activate or settle packs before and after selling the tickets. They do this is because once a pack is activated or settled (Depending on what state you are in.), the lottery automatically takes the money out of the retailer's bank account to cover the cost. Retailers, such as gas stations or convenience stores, who have a lot of loss leaders (gas, cigarettes, impulse items) would have a hard time paying their bills off, and would use the lottery money until they made enough profit to pay back the lottery.
Here's how this may affect you.
If a pack is not activated, and you try to cash in a winning ticket, the lottery will automatically detect that the pack was not activated, and will not pay out until it is activated.
Just something to think about.
I've redone my website. Go to www.dr-ew.com. I kept a lot of the old stuff, and I've added some new stuff. Look for more new stuff in the coming weeks.