Sounds like an epic fail.... Losers!
Posted on 10/15/2015 12:43:50 AM PDT by Cincinatus' Wife
The Illinois state lottery announced Wednesday it’s no longer a lottery; it’s more of a voluntary collection agency. That’s because the lottery, due to gridlock in passing a new state budget, no longer has the money to pay people who win. Selling lottery tickets? Not a problem. Paying out winning tickets? Problem.
(Excerpt) Read more at slate.com ...
Sounds like actionable fraud.
Sounds like if this was a Staten Island bookie, the person would be at his house with 2 friends and 3 bats.
Geez these people are pigs. Lampposts for the lot of them.
If I won 8 million and the IOW was for a year. I actually think I would be ok with that because it would really give me time to get my act together and plan really well. I mean I won’t be able to spend that much anyway in mine or my kids lifetime anyway so what’s a year. I think people would be better off with that year wait. I actually think less bankruptcies.
“The court order might just be coming, as a federal class action lawsuit filed against the state by a group of winners alleges they are waiting on a whopping $288 million in winnings.”
Plenty of $$$ to volunteer to take care of the Gitmo 114 for the rest of their lives though. Wonder how many illegal’s the state is paying for for everything from healthcare to college to ...?
The catch is that the taxes on your winnings, federal/state/otherwise are due immediately - not after you actually (finally) get paid, which would be after tax day 2016.
Good gosh. They can’t even pay $700 or $1000 winning lottery tickets?
How close we must be. To Illinois going bankrupt, if nothing else. I’d say they are technically there.
How can they not have the money? It was paid to them by the participants. I don’t understand. Who stole it?
I imagine the concern is that they will never get the money.
Illinois is obligated by their 1970 Constitution to pay all pensions as agreed to with no delay and with no reduction of benefits. Their agreed to pensions are so far beyond what they can afford, they are raiding every other source of income.
They cannot, and I mean CANNOT, do anything about the pension situation since it is a provision in their State Constitution, so those pensions will be paid before any other bills.
If they are that strapped for money, I know one thing I’d certainly NOT do. I wouldn’t be buying any scratch off tickets from them.
In Georgia years ago, the lottery had the misfortune of allowing too many people play CASH3 and CASH4 using the popular traditional numbers like “777”, “7777” and other ones (1234). When they hit, their payout completely turned their books red. They paid, but the kicker here was they didn’t issue IOUs; what they did was to actually change the odds on the scratch offs (contrary to the odds they printed on the back) to get their money back. What they did was steal from the people buying the scratch offs.
This went on for a good while until they got caught at it. They rationalized the unpublicized action by saying the printed odds on the ticket were for the LIFETIME of the game and they fully intended to print up enough winners to make that so. Fat chance on that, IMO.
So for all you scratchers out there, beware.
Sounds like an epic fail.... Losers!
I’ll bet you, as most states do, the Illinois Lottery is actually the Illinois Lottery Corporation. A private corporation chartered by the state to operate a lottery according to a payback schedule to the state, but not governed by those pension laws, etc. These people are slick.
It's a win-win!
That this could happen shows an amazing (even for IL) level of incompetence and mischief. And stupidity....who would ever buy an IL lotter ticket any more?
“And if they still can’t pay you, you get to keep the IOU!”
“It’s a win-win!”
ROFLMAO!
The percentage you’re paying is too high priced
While you’re living beyond all your means
And the man in the suit has just bought a new car
From the profit he’s made on your dreams
But today you just read that the man was shot dead
By a gun that didn’t make any noise
But it wasn’t the bullet that laid him to rest was
The low spark of high-heeled boys
https://www.youtube.com/watch?v=rEZH0t5Yozw
Informative/humorous thread BUMP!
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