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 ...
back in Vancouver, I personally knew someone who won 3 mil and he had a party which I luckily was invited. Made the Romans look like amateurs but that’s another story ;)
The provincial lottery commission will hand you the check and the only “sermon” they will ask of you is to spend wisely and not get addicted (yeah right). There is a check mark to ‘declare” lottery winnings on the federal tax form (the canadian govt kinda wants their money back) but no one is actually stupid enough to write it off.
it’s not that they don’t HAVE the money, it’s because Gov. Rauner has restricted payouts in order to put pressure on the Democrat-Unionista ruling party to come up with a budget that reduces spending. Because they have a supermajority in the legislature, the Governor is the only weapon we have, and frankly the more uncomfortable he makes more people, the better.
That’s funny. Not only are taxpayers fleeing liberal states but so are lottery players.
a bit more for those who aren’t aware: Illinois is in the same position the whole country was under Reid and Pelosi after Obama was elected: One Party Rule. (remember how good that felt??) The population is so concentrated that you can win three counties out of 102 and become Governor, and that concentration of power has made it possible for the Democrats to create and hold supermajorities in both houses of the state legislature: whatever they want, they get — as long as there’s a Corrupt Governor like Blago or an Idiot Governor like Quinn to sign it into law.
Bruce Rauner won as a Republican who would “clean up Springfield” and that’s what he is trying to do. If he can hold onto lottery winnings and increase the level of awareness (or pain), that’s a good thing. More people being frustrated and upset with goverment is a step toward electing new people to run it.
In that case, good.
I wouldn’t be surprised if the money they’re not paying out to lottery winners is going to pay union retirement checks.
Yes, except they then can seize property and auction it off until they are paid.
At what point ids Illinois going to be forced into default? They are already defaulting on these obligations.
When will they default on bond payments, pension payments and bank loans? It is only a matter of time.
I don’t think a state can legally go Bankrupt. I think they go into default.
Wisconsin to capture fall out from IL money woes. It isn’t just the lottery. The state itself is issuing IOUs to its pensioners, according to recent reports.
In the meantime, WI posted a $1.4 million surplus to end its fiscal year, despite predictions to the contrary from Walker’s opponents.
FReep Mail me if you want on, or off, this Wisconsin interest ping list.
“In the meantime, WI posted a $1.4 million surplus to end its fiscal year...”
Walker’s Fault! :)
How is it possible to run a lottery at a deficit? Isn’t the basic principle to pay out x% of intake as winnings?
The lottery is profitable. They would have no problem apaying the winners, except all their revenue is disappearing into the state budget's black hole.
What's effectively happening: the bookie.... errr, state is absconding with all the big-ticket payouts.
The lottery itself isn't running at a deficit.
The state is simply refusing to pay the big winners, and keeping the money for itself.
Hey Afraid, its one hundred thirty-five million not one point four million. You’re off by a couple of decimal points!!
http://www.maciverinstitute.com/2015/10/wisconsin-ends-fiscal-year-2015-with-135-million-surplus/
Most lottery ticket buyers aren't very bright anyway, they keep on buying.
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