Economic Collapse

[basserdan]

How Is This Not Fraud?

by Karl Denninger
2015-10-15 11:20

If you or I tried something like this -- such as when running a casino -- we'd be in prison by nightfall.

Feeling like you've hit the jackpot through the Illinois Lottery? Well, think again.

State officials announced Wednesday that winners who are due to receive more than $600 won't get their money until the state's ongoing budget impasse is resolved. Players who win up to $600 can still collect their winnings at local retailers.
http://tinyurl.com/nbxeufc

So you place a wager in a legal, state-run gambling enterprise (with really poor odds, I might add), you win, and then the state refuses to pay you.

Why does anyone comply with any sort of law in Illinois when the state is able to pull something like this without everyone involved being immediately placed under indictment for fraud?

This is particularly true given that the state continues to sell tickets for said lottery, while knowing they will not pay winners as-agreed.

http://market-ticker.org/akcs-www?post=230794