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Illinios Lottery jackpots are I.O.U.s

Topic closed. 17 replies. Last post 1 year ago by PlayToWin47.

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Illinois
United States
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October 25, 2011
10 Posts
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Posted: August 29, 2015, 5:14 pm - IP Logged

    Are you kidding me? I.O.U.s? I didn't think I would ever see this in my life time. The jackpot size is determined by the amount of money honest people are wiling to risk playing the lottery. But no monies exist for the lucky winner who beats the millions-to-one odds. Wow! Something is drastically wrong here. Their should be laws against this.

    Tialuvslotto's avatar - Jailin
    Texas
    United States
    Member #150797
    December 31, 2013
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    Posted: August 30, 2015, 7:15 am - IP Logged

        Are you kidding me? I.O.U.s? I didn't think I would ever see this in my life time. The jackpot size is determined by the amount of money honest people are wiling to risk playing the lottery. But no monies exist for the lucky winner who beats the millions-to-one odds. Wow! Something is drastically wrong here. Their should be laws against this.

    What Thank$ is talking about is this:

    http://wgntv.com/2015/08/28/illinois-lottery-gives-i-o-u-for-payouts-of-25000-or-more/

    Hopefully short-lived.  Can you imagine winning $25K or more and being told that you have to wait???

    "There is no such thing as luck; only adequate or inadequate preparation to cope with a statistical universe."

    ~Robert A. Heinlein

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
      United States
      Member #30470
      January 17, 2006
      10350 Posts
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      Posted: August 30, 2015, 7:22 pm - IP Logged

      If they can't pay it when someone hits they shouldn't be allowed to book it.

      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

      Lep

      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

        Tialuvslotto's avatar - Jailin
        Texas
        United States
        Member #150797
        December 31, 2013
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        Posted: August 31, 2015, 6:18 am - IP Logged

        This disturbs me to know that the Lottery Pool is regarded as "state money".  Not just the 50% (or more) that they skim off the top, but the prize pool that exists to payout winners. 

        IMO, the prize pool should be considered as separate from the state budget, and held in a trust fund just for the purpose of paying winners.  Shouldn't have anything to do with the state budget.

        "There is no such thing as luck; only adequate or inadequate preparation to cope with a statistical universe."

        ~Robert A. Heinlein

          Raven62's avatar - binary
          New Jersey
          United States
          Member #17843
          June 28, 2005
          49702 Posts
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          Posted: August 31, 2015, 7:01 am - IP Logged

          This disturbs me to know that the Lottery Pool is regarded as "state money".  Not just the 50% (or more) that they skim off the top, but the prize pool that exists to payout winners. 

          IMO, the prize pool should be considered as separate from the state budget, and held in a trust fund just for the purpose of paying winners.  Shouldn't have anything to do with the state budget.

          I guess this proves that Playing the State Lottery is nothing more than a Voluntary State Tax!

          A mind once stretched by a new idea never returns to its original dimensions!

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
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            Posted: August 31, 2015, 5:20 pm - IP Logged

            I spoke to a clerk today, she told me sales on jackpot games are way down.

            People are also playing scratchers with top prized less than $25,000 and not too many are buying the Win for Life games.

            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

            Lep

            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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              Kentucky
              United States
              Member #32652
              February 14, 2006
              7308 Posts
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              Posted: August 31, 2015, 5:56 pm - IP Logged

              This disturbs me to know that the Lottery Pool is regarded as "state money".  Not just the 50% (or more) that they skim off the top, but the prize pool that exists to payout winners. 

              IMO, the prize pool should be considered as separate from the state budget, and held in a trust fund just for the purpose of paying winners.  Shouldn't have anything to do with the state budget.

              I Agree!

              They probably define it as "state money" because of all the unclaimed prizes. It looks like checks over $25,000 are paid from a different fund and signed by a different person who by law can't issue any checks until a budget is made.

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                Kentucky
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                February 14, 2006
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                Posted: August 31, 2015, 6:09 pm - IP Logged

                I spoke to a clerk today, she told me sales on jackpot games are way down.

                People are also playing scratchers with top prized less than $25,000 and not too many are buying the Win for Life games.

                That's strange because MM sales on Friday were down only $14,000 from Tuesday, but Saturdays PB sales were up $34,000 from Wednesday.

                  Coin Toss's avatar - shape barbed.jpg
                  Zeta Reticuli Star System
                  United States
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                  Posted: August 31, 2015, 8:17 pm - IP Logged

                  The state pays 5 + 0 and under, right?

                  So if you hit 5 + 1 on MM or PB you're ok, anything less in Illinois and you'll get an IOU.

                  Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                  Lep

                  There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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                    Kentucky
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                    February 14, 2006
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                    Posted: August 31, 2015, 10:03 pm - IP Logged

                    The state pays 5 + 0 and under, right?

                    So if you hit 5 + 1 on MM or PB you're ok, anything less in Illinois and you'll get an IOU.

                    Did you change your mind from last week when you said "I always play the Megaplier.....you're much more likely to hit 5 + 0 than 5 + 1."?

                    You know the Megaplier has no effect on the Jackpot, right?

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
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                      Posted: August 31, 2015, 11:16 pm - IP Logged

                      Yeah Stack, but who knew this budget fiasco was going on? Apparently it's been going on since some time in July but as far as the lotto, no one knew anything until the IOUs were sent out by the state.

                      I won't play for 5 + 0, Lucky Day Lotto, Lotto, or scratchers that pay over $24,999 'til they get it straight.

                      As zinniagirl posted in the News thread, NC's budget isn't set but their lotto still pays.

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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                        Kentucky
                        United States
                        Member #32652
                        February 14, 2006
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                        Posted: August 31, 2015, 11:39 pm - IP Logged

                        Yeah Stack, but who knew this budget fiasco was going on? Apparently it's been going on since some time in July but as far as the lotto, no one knew anything until the IOUs were sent out by the state.

                        I won't play for 5 + 0, Lucky Day Lotto, Lotto, or scratchers that pay over $24,999 'til they get it straight.

                        As zinniagirl posted in the News thread, NC's budget isn't set but their lotto still pays.

                        From what I've read, it's been 2 months with no budget in sight. To you think the 29 prize winners can get relief from the courts if the budget is not passed soon?

                          Coin Toss's avatar - shape barbed.jpg
                          Zeta Reticuli Star System
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                          Posted: September 1, 2015, 12:08 am - IP Logged

                          Nobody knows that except the 'powers that be'.

                          A TV news story, "Now might not be the time to play the Illinois lottery' wasn't even broadcast until last week (where I am, anyway, don't know about Chicago or Springfield).

                          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                          Lep

                          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                            noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                            Bay Area - California
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                            December 12, 2012
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                            Posted: September 1, 2015, 12:24 am - IP Logged

                             If l give my money to the clerk or feed it to one of the QP machines and it spits out my lottery ticket and come to find out it's the winner, l WANT to get paid, paid with REAL money. Illinois Lottery Commission is taking its winning players down a dark path.

                            People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                              Funtimz's avatar - Lottery-022.jpg

                              United States
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                              March 30, 2015
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                              Posted: September 1, 2015, 8:53 pm - IP Logged

                              Sounds like the State of IL just wants to say, "as long as I owe you, you'll never be broke"...

                              Take Risks: If you win, you'll be happy.  If you lose, you will be wiser...