Does interest accumulate for late claims?

[Levi]

Hello,

If a grand prize winner does not claim their prize (I.e. checks all of their tickets once in a while, or finds the winning ticket in the pocket of an old pair of jeans/off-season jacket in storage... etc.) for a number of months - of course under the one year limit - will the Lottery Corp. give them the potential interest dollars on the winnings or just the original prize amount?

Thank you.

 

[johnph77]

No lottery that I'm familiar with, public or private, awards interest on unclaimed prizes. Only the advertised amount is paid. Besides, what rate would they use?

 

[blitzed]

jeeez! isn't a grand prize grand enough?

anyway, you bet it collects interest...but much like with tax refunds, the government won't pay you the interest, because their dirty paws grab it. they won't miss a beat chargin interest on late tax payments however ha! bastards.

I heard recently that here in the state of California, the state government seizes savings accounts & stock portfolios which have been dormant for 3 years. there is a story of one couple who got screwed out of $1mil worth of stock they were sittin on. CA state sold it for about $170k, the couple is fighting a court battle, but unfortunately they'll likely only entitled to the $170k the crooks got from sellin off the stock.

later,
blitzed

 

[phonebone]

A bone head question, can someone tell me how (or where) I can get Stefan Vandevelde book. Thanks

 

[Levi]

Thank you. I figured as much...even if you take the current Bank of Canada interest rate and apply that to a grand prize-let's say the one for today, Sat. July 21st-which was 16Mil-you'll have hundreds of thousands of dollars. I guess the Lotto Corp. would use that money for whatever their programs are, that they support (Govt. or private), instead of giving it to the winner(s).

 

[johnph77]

A bone head question, can someone tell me how (or where) I can get Stefan Vandevelde book. Thanks

Do a Google or Yahoo search for "Stefan Vandevelde" - that will lead you to his site. I won't advertise it in this post.