This is too strange. So if you win the Illinois lottery you have to wait to get paid???
Doesn’t the lottery have money from ticket sales to pay prizes? Isn’t it structured so that a certain amount is paid to winners, while the “house” or state keeps the rest?
I don’t see how the lottery can be broke. Did the liberals siphon off lottery funds to pay for other things? If so isn’t that against the law???
> Doesn’t the lottery have money from ticket sales to pay prizes? Isn’t it structured so that a certain amount is paid to winners, while the “house” or state keeps the rest? <
Most state lotteries are structured so that - long term - the state gets 50%, and the winners get 50%. That payoff is worse than the worst slot machine in a casino. And it’s worse than even what numbers racket pays (the mob pays 60% to the winners).
But it all can be explained by something COUNTrecount noted: The Illinois Lottery transferred $691.6 million to the Common School Fund during fiscal year 2016.
In New York City, “If I can make it there
I’ll make it anywhere”, in New York State, they used to have a OTB operation, (Off Track Betting Pari-Mutual), and they were so fu*ked up they had to close it down because it went bankrupt. And the Democrap Politicals had to find other ways to payoff their “welfare wards”.
In Canada, provincial lotteries are not taxable. Simply, it’s a game of chance 1 in near 14 million for Ontario’s 6/49 lottery. But Stock profits are taxable as income but not lotteries. Is there a difference between “winning versus income”?
IL stopped paying the lottery commission, and started taking the payouts for themselves.
That is why Powerball is pulling out. Which is kind of funny in a way. Powerball has a rather, shall we say, interesting history not not paying its obligations to the states on time.
From what I understand, it's not necessarily a lack of money that stops payments greater than $25k. It has to do with statutory authority to make any payment greater than that amount. Absent a budget, they cannot pay because the law does not allow it.