Unclaimed Lottery Prize money: Where does it go?

Unclaimed lottery prizes are more common than you might think. There are many reasons why lottery jackpots may go unclaimed. Millions of dollars  data sgp worth of prizes are lost each year and every lottery provider has its own strategies to deal with these situations.

The UK’s National Lottery saw the largest unclaimed lottery prize ever in 2012 Two winning tickets to the Euro Millions lottery draw in June 2012 were purchased. One winner claimed the prize of PS63.8million, while the other did not claim the winning ticket. After hearing nothing for months, lottery officials began a massive campaign to find the winner. But it was futile. The ticket expired December 5, 2012 and no one claimed the prize.

This jackpot, like all other unclaimed UK National Lottery prize, was donated to Good Causes. Good Causes allocates funding to various community groups and projects. 13 groups, including the Arts Council or Heritage Lottery Fund, benefit from the National Lottery’s Good Causes.

Numerous multi-million dollar lottery jackpots in Canada have not been claimed. The Ontario Lottery and Gaming Corporation employ sophisticated systems to assist players who have lost or had their tickets stolen. Data Analysis and Retrieval Technology, or DART, allows lottery officials scan millions of transactions quickly. This system helps ensure that the owner of the ticket is correct. It also allows players to claim prize money if they lose their winning tickets.

Winners of winning tickets have one year to claim their prizes. The winnings can be used in other lottery draws if the player fails to come forward within the time limit.

In recent years, New Zealand has seen an increase in lottery tickets that have not been claimed. Only $10 million in lottery winnings was claimed by ticket holders in 2012. None of the prizes was worth more than $1million. New Zealand players have twelve months to claim their lottery prize. The Prize Reserve Fund will pay out future draws for those that have not been claimed.

Unclaimed Lottery Prize money: Where does it go?
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