Do you think of someone who spends money on lottery tickets, then having a major jackpot but never getting their winnings? This sounds insane, isn’t it? Who wouldn’t be able to boast about a massive winnings from a lottery? Although it’s difficult to imagine, it can occur and there are many reasons for why it happens.
Sometimes, people make mistakes when they check their numbers and do not even realize they have won. Sometimes, people lose their tickets. Some people forget the purchase and, consequently, don’t even look it up. Anything can occur. This is because, each year there are millions of dollars of lottery prizes that have not been claimed. What is the fate of lottery winnings that aren’t claimed?
Each lottery is unique but generallyspeaking, one of two things happen when lottery winners are not claimed either the money not claimed is returned to the prize pool, or the lottery company transfers it back to the social services it funds like education, for example.Live Draw SGP
Let’s take a look at one of the most popular lotteries that is played across the United States – Powerball. If the Powerball jackpot isn’t claimed the prize is returned to all the state lotteries participating in the game, according to their overall revenue. The lotteries of the state have the option of what they will do with the winnings and, most of the time the money is redirected to the communities it helped.
Consider one of the most popular lotteries in Canada Lotto 649. Lotto 649. If the Lotto 649 jackpot is not claimed in contrast to Powerball the unclaimed prize is not returned into the lottos of provincial lottery. Instead,
it is redeposited to the prize pool and will be returned to players in the future through bonus jackpots or other promotions. For instance, Lotto 649 might increase the amount of the guaranteed jackpot for several draws. They could also offer an exclusive one-time bonus in which they draw an additional number of numbers that the players have to be able to match in order to win. In either case, the winners will be rewarded with additional cash prizes.
As you can see, the lotteries offer different ways to do with the unclaimed lottery prize. Each lottery handles the prize that is not claimed in a different way. If you’d like to know what happens to winnings that are not claimed for the lottery you participate in the best thing to do is go to the website of the lottery and go through the FAQ section. The FAQ section will inform that what will happen to your winnings.
