Who keeps the money from uncash winning tickets?

[Kash$]

Read on Twitter where a player try to cash a winning pick 4 ticket from Saratoga on opening day at Belmont..Tic was no good who keeps the $$?
State?
Nyra?

[Secondbest]

In NY the state keeps all the money. Surprisingly it used to be 3-4 million a year.Do not this year or last years figures.

[MonmouthParkJoe]

Much like everything else in this industry it is state specific. Goes for the outs and breakage. Can get divided among the track, horsemen, state, ect. In Arizona the track keeps the outs, at least thats what we did at Rillito :D

[MonmouthParkJoe]

In the rare occasion I do hit a ticket, i always cash it sooner than later. Most states or tracks have it posted how long a ticket is valid until it can be cashed. Some states have a specific date that is needs to happen by I believe, some have a time frame like one year or something.

[Shemp Howard]

In New York you have until March 31st of the following year to cash the ticket.

So, if you hit a winner on New Year's Day you have 15 month's; New Year's Eve, 90 days.

The money from uncashed tickets goes to the Empire State treasury.

[horses4courses]

In Nevada race/sports books, and probably elsewhere,
unpaid expiring tickets are the biggest fraud risk out there.

I know of 2 cases in recent years of theft via this avenue.
There has to have been plenty more.

[AlsoEligible]

In NY the state keeps all the money. Surprisingly it used to be 3-4 million a year.Do not this year or last years figures.

Probably a good bit higher this year just due to uncashed American Pharoah tickets. I read an article some months ago that said 90% of the win tickets on AP were still uncashed and being sold on eBay or kept as memorabilia.

[joeyp]

I have some uncashed tickets from 2015 breeders cup American pharoah tickets. Also have some framed 8X10 pictures of pharoah at breeders cup with uncashed ticket. Anybody interested contact me and make offers. Thanks
Joeyp

[dilanesp]

In NY the state keeps all the money. Surprisingly it used to be 3-4 million a year.Do not this year or last years figures.

Weren't Chris Harn and his friends keeping the money for awhile? :)

[whodoyoulike]

I have some uncashed tickets from 2015 breeders cup American pharoah tickets. Also have some framed 8X10 pictures of pharoah at breeders cup with uncashed ticket. Anybody interested contact me and make offers. Thanks
Joeyp

I still think you should've cashed them and just taken a selfie with the tickets as memorabilia.

This Bloodhorse article in this previous thread noted 94,128 uncashed Belmont Stakes tickets out of 98k which I'm guessing is just for NY and not for the rest of the country.


http://www.paceadvantage.com/forum/showthread.php?t=128551&highlight=uncashed+tickets

[whodoyoulike]

Weren't Chris Harn and his friends keeping the money for awhile? :)

They really screwed up a good thing (for them that is). A real life golden goose example.

[rrpic6]

In Ohio, parimutuel tickets never expire. Therefore the State gets zero, unlike New York and others. Surprised this hasn't changed with the enormous budget cuts under the current Governor's regime.

RR

[therussmeister]

In Ohio, parimutuel tickets never expire. Therefore the State gets zero, unlike New York and others. Surprised this hasn't changed with the enormous budget cuts under the current Governor's regime.

RR
That tickets never expire does not mean all winners are cashed. Some will be lost or accidentally destroyed.

[rrpic6]

That tickets never expire does not mean all winners are cashed. Some will be lost or accidentally destroyed.
Of course! What it does mean is Ohio never profits a penny unlike other states that recoup uncashed or lost tickets at a certain deadline.

RR

[therussmeister]

Of course! What it does mean is Ohio never profits a penny unlike other states that recoup uncashed or lost tickets at a certain deadline.

RR
That lost ticket money just remains in limbo forever.

[AlsoEligible]

That lost ticket money just remains in limbo forever.

Not quite. I believe Ohio tracks will purge uncashed tickets from the tote after a set amount of time, similar to other states, and the money comes off the books.

But tickets never expire, so if you bring an old ticket in, they'll still honor it and pay out. Whereas other states will tell you tough luck if you're past the expiration date.

[TravisVOX]

In Louisiana vouchers never expire. Tickets go to the track when they expire. I don't remember how long you have.

[citygoat]

Bet,Win,Cash

Bet, Lose,Trash

[WoxFan]

At woodbine, the uncashed tickets after a year go into a fund for the horsemen towards their health benefits.