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New Unclaimed Casino Earnings Law

Discussion in 'Casino Industry & Development' started by Gomar, Jul 5, 2012.

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  1. Gomar

    Gomar Low-Roller

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    new law.
    17. Nevada: Unclaimed casino earnings will be split between the state (75%) and the casino (25%). Previously, the casino got all the money.

    How could someone win dough at a casino and not know about it? Does it happen that often?
    Or does "earnings" imply something else?

    I did see people forget to pick up coins back like 10-15 years ago. These days some people still had credits in the slots when they left, which I used. I see lots of those cards left all over the casinos now. Practically, they are worthless, as is their rewards system. I mean who needs $0.01c for every $5 you spend in a slot?

    To earn a buffet how much jack do you need to drop in the slots? Anyway, I am happy this new law will benefit the state not the place I lost my wages, and didnt even get a lousy comp, not even a lolly pop.
     
  2. numeno

    numeno VIP Whale

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    I think this law refers to unclaimed slot tickets. Those ones you put in your wallet right before going to dinner because you don't have time to cash it and then forget about it until you get home.

    Ok, that situation has never happened to me, but there must be enough of them for the lawmakers to think they can get some revenue from it.
     
  3. DonD

    DonD Super Moderator

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    How about sports and horse racing tickets that are not claimed. Sometimes a horse is scratched and the bettor didn't know and tickets are lost or not worth a trip back to the casino to cash them in.
     
  4. Auggie

    Auggie Dovahkiin

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    Yes it does say "earning" not winnings, so that could actually encompass a few different things.

    It likely includes things like:
    - credits left in a machine
    - vouchers or chips that have expired
    - vouchers or bills that have fallen in to the cracks of a machine that the person either didn't know they could call a slot attendant, figured it was a malfunction, had no clue, etc
    - money, chips or vouchers that fall under a machine or are not reachable
    - money or winnings being held at the cage
    - chips or slot vouchers turned in to lost and found

    Thats just stuff in and around the casino. It could also include things like if the casino has a fountain or something that people routinely throw money in to and they don't have those funds earmarked already for a charity, or could even include something like if you leave your luggage behind at the bell desk the casino has the right to sell it after 30 days and keep the money.
     
  5. ardee

    ardee VIP Whale

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    It happens enough that there's money to be made from it.
     
  6. MisterJJ

    MisterJJ Low-Roller

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    Let me tell you how it will be
    There's one for you, nineteen for me
    'Cause I'm the taxman, yeah, I'm the taxman

    Should five per cent appear too small
    Be thankful I don't take it all
    'Cause I'm the taxman, yeah I'm the taxman

    If you drive a car, I'll tax the street,
    If you try to sit, I'll tax your seat.
    If you get too cold I'll tax the heat,
    If you take a walk, I'll tax your feet.

    Don't ask me what I want it for
    If you don't want to pay some more
    'Cause I'm the taxman, yeah, I'm the taxman

    Now my advice for those who die
    Declare the pennies on your eyes
    'Cause I'm the taxman, yeah, I'm the taxman
    And you're working for no one but me.

    -The Beatles
     
  7. ABQJeff

    ABQJeff Low-Roller

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    Those 7 cent vouchers add up in the course of a year.
     
  8. numeno

    numeno VIP Whale

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    This to me is the same as slot tickets. After expiration the casino just took the money, now they get 25%. :)
     
  9. Auggie

    Auggie Dovahkiin

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    I don't think its really about taxing, just "big number theory"

    Like at the airports in the USA: just in loose change people leave behind at the TSA screening areas amounts to about $400,000 a year

    Las Vegas gets about 30-35 million visitors a year if 1% of the people that visit Las Vegas throw a quarter in to a fountain, 1% takes home a slot voucher between 1 to 5 cents as a souvenir and one in a thousand take home at least a $1 casino chip... you would be already talking about over $100,000 a year.

    That doesn't sound like much, but just shows how fast it can add up when you are talking about so many people, even if its things on a micro scale.
     
  10. hammie

    hammie VIP Whale

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    New York State amended the bottle redemption law a few years ago to claim 80% of the unredeemed $.05 deposits on many beverage containers. About 30% of bottle deposits are not refunded, in its first year this program netted NY State $120 million, that's a lot of nickels. The bottle deposit law was recently expanded to include water bottles, more nickels.
     
  11. raraavis

    raraavis VIP Whale

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    that actually happened to my fiance last year. we got back to jersey, and he realized he had a $40 ticket in his wallet. instead of letting it go to waste, we just mailed it to my dad to redeem since it expired before we would make it back.
     
  12. steveorama

    steveorama Low-Roller

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    Also sports bets that equal and don't beat the spread are pushes.
    I'll bet (!) a lot of those don't get claimed.
     
  13. Sklem211

    Sklem211 High-Roller

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    I got extremely drunk at the BJ table once and when I woke up the next day...I had no recollection of ever coloring up or cashing in my chips. I think I might have went to the bathroom and then just stumbled back to the room after. I did find a half eaten hamburger in a bag on my floor the next day...so at least I snuck in a late night snack somewhere in there lol
     
  14. itsedjusted

    itsedjusted Tourist

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    You should have inquired with the pit boss. They probably have a procedure to return it.

    It happens once in a while in the poker room. A player who goes to eat and doesn't come back after a set period of time can be "picked up" by the room supervisor. They count the money in front of witnesses fill out a piece of paper and you can get your money back from the cage when you come back.


    This really only happens when there is a wait list for the game.
     
  15. travelfiend

    travelfiend High-Roller

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    In a somewhat related topic, don't forget to check this website where you will find links to all the state sites where you might find some money owed you. http://www.unclaimed.org/

    I have family and friends that have found at least several thousand.
     
  16. DonD

    DonD Super Moderator

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    I posted that site a few years ago here. Several members found money that was owed to them. My brother and his wife found over $3,000 that they knew nothing about. It's a legit site and the price is right, free. . .
     
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