Win big in Illinois Lottery? You have to wait for your money

[SEIndSAM]

Link to an article from the Chicago Trib. If your winnings in the lottery are over $25K, you have to wait until they pass a budget to collect your winnings. Just another demonstration on how screwed up the state government is.
Illinois lottery winners have to wait for payout due to budget impasse

 

[ghitch75]

it is all the honest Lib's in the state over the years

 

[pudly]

Just a sneak preview of more serious problems to come. Many cities/states are seriously deficient in funding promised pensions for their employees. Some of them are in distress already (ex: Detroit) and end up either seriously raising taxes or reneging on govt. employee benefits. Raising taxes while not providing services tends to drive out primarily productive, tax-paying residents.

The US federal govt. "invests" Social Security money in US treasury notes which are simply a loan to a nation with the largest debt ever in world history ($18 trillion) and that still isn't convinced it needs to ever balance its books and pay down the debt. The children/grandchildren will be making payments on the debt incurred by the baby boomers without getting corresponding services and will face the same tax/default choice as above.

I look at this as simply a minor pothole on the way towards a series of horrendous, predictable and avoidable crashes.

 

[EvilElmo]

But yet they're still selling tickets. Can't take credit for this comment but it's a good point - there's a name for taking money when you have no intention of fulfilling the contract you're entering into...

 

[TB1999]

What kind of jackass wins a million dollars and can't wait a few months or even years to get it?

You win a crap load of money but the sense if entitlement is free!

 

[Redtbird]

What kind of jackass wins a million dollars and can't wait a few months or even years to get it?

You win a crap load of money but the sense if entitlement is free!

A person works all week at their job. Should they also have to wait a few months to get paid?

 

[TB1999]

A person works all week at their job. Should they also have to wait a few months to get paid?

Is working 40+ hours at a job the same as the 30 seconds and 1$ it takes to win the lottery?

 

[GodFearinGunTotin]

Just a sneak preview of more serious problems to come. Many cities/states are seriously deficient in funding promised pensions for their employees. Some of them are in distress already (ex: Detroit) and end up either seriously raising taxes or reneging on govt. employee benefits. Raising taxes while not providing services tends to drive out primarily productive, tax-paying residents.

The US federal govt. "invests" Social Security money in US treasury notes which are simply a loan to a nation with the largest debt ever in world history ($18 trillion) and that still isn't convinced it needs to ever balance its books and pay down the debt. The children/grandchildren will be making payments on the debt incurred by the baby boomers without getting corresponding services and will face the same tax/default choice as above.

I look at this as simply a minor pothole on the way towards a series of horrendous, predictable and avoidable crashes.

There're lots of people out there (and some here) that will poo-poo this concern.

 

[IndyDave1776]

There're lots of people out there (and some here) that will poo-poo this concern.

Very true. They fail to understand that dismissing this problem is much like dismissing the progressively larger portion of the Titanic which was underwater until the last dry deck disappeared from under their feet.

 

[SSGSAD]

Link to an article from the Chicago Trib. If your winnings in the lottery are over $25K, you have to wait until they pass a budget to collect your winnings. Just another demonstration on how screwed up the state government is.
Illinois lottery winners have to wait for payout due to budget impasse

I don't know about Il., but the "Hoosier" lotto, has the money, I think you have to wait, like 30 days, for the Jackpot.....

Just another reason, NOT to put "libs", in charge of money !!!!!

 

[ghuns]

Lotteries are just a tax on people who are bad at math.

BUT, if you pay your money and actually beat the odds, you should be paid what you are owed. How long could a casino stay in business if you go to cash in your chips and they say, we'll pay you when our budget is straightened out?

A .gov is the only entity that could ever get away with something like this.

 

[Timjoebillybob]

Is working 40+ hours at a job the same as the 30 seconds and 1$ it takes to win the lottery?

In the sense that you are owed the money, yes.

 

[pudly]

What kind of jackass wins a million dollars and can't wait a few months or even years to get it?

You win a crap load of money but the sense if entitlement is free!

That's an awful lot of hate for someone that did nothing wrong.

 

[churchmouse]

There're lots of people out there (and some here) that will poo-poo this concern.

I will not Poo-Poo this but look to those that raided a solvent fund and filled it back up with IOU's.........Yes, the dems.

And yes, they are kicking the can down the road with no regard.

 

[churchmouse]

What kind of jackass wins a million dollars and can't wait a few months or even years to get it?

You win a crap load of money but the sense if entitlement is free!

If I win a crap load of money I want it now.....right now. I am no Jacka$$ either. If you loose at cards and I win then I leave with the money. Period. Same thing just a larger scale.

Lotto feeds so much money into the machine. They have it, I win it, I want it. Lotto is not an entitlement....where did that come from.

 

[TB1999]

If I win a crap load of money I want it now.....right now. I am no Jacka$$ either. If you loose at cards and I win then I leave with the money. Period. Same thing just a larger scale.

Lotto feeds so much money into the machine. They have it, I win it, I want it. Lotto is not an entitlement....where did that come from.

My point is that if someone came up to me and said "I'm going to give you $500,000, but you have to wait a few years..", I wouldn't reply with "no give it to me now."

That being said, if I ever win the lottery, I will be singing a different tune.

 

[pudly]

My point is that if someone came up to me and said "I'm going to give you $500,000, but you have to wait a few years..", I wouldn't reply with "no give it to me now."

That's highly misleading. They didn't agree to payments in a few years. If that was stated up front, then the winners could plan accordingly, including deciding if they trust a cash-strapped state enough to buy tickets in the first place. Instead, the state agreed to make regular payments and then part way through, reneged.

 

[TB1999]

If I win a crap load of money I want it now.....right now. Lotto is not an entitlement....where did that come from.

I'm using entitled in the sense that winning a huge prize doesn't (in my eyes) entitle one to determine how and when they will be paid. I didn't look too deep into the original link so I'm talking in general, not specifically about what was posted. If this is a case of the lottery intentionally misleading winners on when they get paid, then I think that's crap. If this is a case of people just not doing their homework on the payout, it's not the lottery to blame.

 

[Leo]

What kind of jackass wins a million dollars and can't wait a few months or even years to get it?

You win a crap load of money but the sense if entitlement is free!

Sweepstakes are regulated by law. Any sweepstakes that collects money, had the drawing and does not hand over the prize, is in serious legal trouble. People go to jail, and assets are seized when that happens.


A certain City Police department had raffle tickets for a brand new Harley, I think it was 1999. The tickets were all marked the bike would be awarded as soon as all the tickets were sold. Nearly all the tickets sold right away. Almost a year goes by and the Bike is being ridden but has never been awarded to a ticket holder. The Officer in charge of the raffle said "all the tickets are not sold". The Project team at the Chrysler plant said they have raised enough money to buy all the tickets that are left at full face value. The Police officer refused to sell them. As I look at my tickets on my sunvisor every day, do I have a right to feel betrayed?

 

[TB1999]

That's highly misleading. They didn't agree to payments in a few years. If that was stated up front, then the winners could plan accordingly, including deciding if they trust a cash-strapped state enough to buy tickets in the first place. Instead, the state agreed to make regular payments and then part way through, reneged.

Ok, I guess I should have read the whole article.