What Happens with Expired Unclaimed Lottery Money
Unclaimed lottery money has been a front-runner in the source of the unclaimed money piles the state governments are sitting on. Last year, California reported around $17.25 million in terms of lottery money alone that went totally unused, as there was nobody to claim them. Where does all this money go, is what everyone wants to know.
The current estimate of unclaimed lottery money in California comes around to be around $17.25 million, but the figures are still being confirmed by the lottery agencies of California. The main reason behind the accumulation of such huge amount is the human nature of becoming forgetful in the long run and people fail to match the figures of the winning numbers with what they have purchased.
Other than that, the computer scanning device that people use to detect the winning numbers also turns out to be faulty at times, thereby misleading the winner. In a similar case of equipment failure in Ohio in the year 2006 a winning lottery number worth $267 million went unclaimed.
Similarly, some machines that are used for printing lottery tickets also make mistakes such as misprinting of the winning numbers. It is because of such printing mistakes, the winning amount worth $5 million went unclaimed in New York. Each state has its individual policies to determine the period required for the ticket holder to claim his unclaimed money.
Much debate has been going on here for a long period of time whether the time frame should be equal in all states for claiming the winning amount or not. The time frame established by different states range from 90 days to a year depending on the policies of the state and the unclaimed lottery win.
Expired lottery winnings, as per the legislations in some states like Arkansas, are utilized in programs that are oriented towards the development of under-privileged persons and agencies that are socially disadvantaged. These expired lottery amounts are also used in the development of prisons and state roadways with consent from the required authority. Connecticut also offers the opportunity to its citizens to file claims regarding lost lottery tickets in case their ticket has been misplaced or lost on the way or even misplaced.
