Posted on 10/18/2015 7:37:05 PM PDT by Libloather
"I do a lot of traveling; I would just jump to the border and go to Wisconsin," said Lobello, 47. "I used to buy lottery tickets in Illinois, but I'm not purchasing them anymore. If they're not paying when they say they're going to pay, I have no confidence in the future."
As of Thursday, Illinois Lottery payments for any winnings over $600 are being delayed until the state budget stalemate is resolved. Lottery officials said the agency's check-writing account is depleted and no authority can replenish it, though winnings under $600 can still be retrieved immediately at retail kiosks.
The Illinois Lottery began delaying payments in July, at first only for prizes larger than $25,000 due to state law barring larger payouts because the legislature must authorize the state comptroller to release the funds.
(Excerpt) Read more at chicagotribune.com ...
Isn't this state run by Democratics?
True, but it is still the fault of George Bush.
The situation is just too funny. If the two win their suit, then they will get paid in IOUs from the state and be out their lawyer fees also.
If my neighborhood bookie gave out IOUs, two hours later he’d be in the hospital if he was lucky. Not by me. I dont use bookies.
If a portion of lottery winnings were put aside for the WINNERS, there would be plenty. They make easily 10 times what they pay out.
But if you really want to get a handle on just how many idiots there are in Illinois, just realize how many people are still buying lottery tickets there even with the indefinite delay in these payments.
Good micro-demonstration of what will occur in our economy - the house won’t be able to cash out the chips they issued and money will go elsewhere.
I'm not sure how it works in Federal court, but if they win a fraud case I believe the defendant pays triple damages AND pays the legal fees.
No IOUs, either. The infamous case of the city of East St. Louis about 25 years ago offers some insight into how this type of case could end. When the cash-strapped city lost some major lawsuits over police brutality cases, they had no money to pay the claims so they ended up signing over some of their municipal properties to the plaintiffs in the cases. I think one plaintiff even got the title to city hall.
To me, this is a fundamental sign of economic distress. When you can’t run a lottery at a profit (and still pay the winners), you just might be doing something wrong.
They just can't run the state at all.
Alternate replies...
1: The voters need to let them know.
or
2: They already have--into the ground.
When the state goes bankrupt, can we just revert it to a territory and start over?
The governor is a RINO from what I have heard.
Why are they even selling tickets if they can’t pay out?
Back in BC, I was winning 2 grand with Keno and they pay up, even with pissed off faces but they do it. 6/49 snd BC49 are small compared to here with the Powerball but it’s tax free.
More revenue for Scott Walker and less for Michael Madigan.
They won’t be selling any tickets if winners cannot collect their winnings.
If you are a bookie, or run numbers, or run a three billion dollar casino, RULE #0 IS:
PAY YOUR WINNERS. IMMEDIATELY.
Your good reputation is really all you have, it is hard to get, and very easy to lose. Of course, the reputation of IL is crap anyway, but most of the victims have nowhere else to go.
“They won’t be selling any tickets if winners cannot collect their winnings.”
Well, you would THINK that would be so.
“Oh, they can run the lottery profitably.”
It’s fantastically profitable (if you ran a casino in Las Vegas with that kind of payout percentage, you would be arrested and lose your license), but even the Lottery profit margin can’t withstand THAT amount of thievery.
“but it’s tax free.”
As I understand it, no governmental body in Canada from the national government down to the local water reclamation district can touch that money. They had a push to sell their lottery tickets here (illegal, but it is done). If I won that, I’d be singing “Oh, Canada” in no time flat.
“But if you really want to get a handle on just how many idiots there are in Illinois, just realize how many people are still buying lottery tickets there even with the indefinite delay in these payments.”
Ironically, this might actually do some good. Keeping large amounts of money out of people hands for a bit might give them time to think about it before they spend it on...well, you know.
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