Powerball And Lottery Business In Danger In Illinois Due To Lack of Finances to Pay The Prizes

The Illinois state finances are in turmoil affecting the Powerball and Lottery business in the state which would ultimately lead to a suspension of them until the legislative assembly and the democratic government maintain some balance between the income and expense. The government and the republic governor need to get into an agreement before 1st July or else this would be the third year in a row when there has been no agreement in relation to the finances of the state. This has been the second meeting after December when the first meeting was held to get into an agreement. Currently, the multistate consortiums are managing and operating the Powerball and the big jackpot and they are in a dilemma about the future which enforced them to withhold the games for some time.

Greg Smith has announced that the Powerball gain would be suspended after 28th June and the Mega Million drawings would end on the temporary basis from 30th June. But the tickets would be sold to the customers and all those winning the prizes up to $25,000 would have to wait for some time to receive them until the final discussion of the budget meeting gets completed. There is no suspicion that the prizes won’t be paid the General Assembly has not yet announced the allocation of the budget which would include the prize amount as a part of it so that the prizes could be distributed in time to all the winners.

The state and multi-state lottery association officials are waiting for the Fiscal Year 2018 appropriation to pass the budget and know the allocation for the lottery so that they can co-ordinate properly and try to find some solution to get back the Powerball game back in Illinois. The other game Mega Million is also expected to be restarted during the same time but till then everyone has to wait because the exact time is uncertain. Illinois has suffered the similar situation in 2015 when the budget appropriation for 2016 was not announced and there were more than 3900 valid winning claims on hold to be paid off. But once the appropriation was announced the association has made a payment of more than $112 million to all the winners within one month.

The lottery association is very positive about getting a resolution soon in this situation since last year in 2016; the multistate lottery returns were unbelievable. They managed to get revenues of more than $99 million through the Mega Million sales and Powerball business was much ahead of it with a total collection of $208 million.