We’ve all forgotten and haven’t bothered to cash out a small casino ticket at some point over the years. Sometimes the amount isn’t worth the bother. Sometimes we simply forget the ticket in a back pocket and only find it days later. Usually, these are small, insignificant amounts.
However, what may be small for one player alone can add up quickly for the casinos. The state of Nevada, particularly Las Vegas, is the heart of gambling world. With hundreds of casinos scattered across its territory, the number of those forgotten tickets quickly adds up.
Five Years and $35 Million
According to current Nevada laws, all unclaimed casino tickets expire after 180 days. A large percentage of these unclaimed funds goes to the state coffers. According to the report by Las Vegas Sun, over the past five years, a total number of funds in these unclaimed tickets exceeded $35,000,000.
Of that number, the state of Nevada will receive 75%. The remaining 25% will go to the respective casinos where tickets were printed but never used or cashed out. While not a huge number, this is certainly a nice little boost on top of the already guaranteed casino edge.
Most Tickets Coming from the Strip
Not surprisingly, of the total number, some $12 million in unclaimed funds originates from the casinos located on the Las Vegas Strip. The Strip sees a huge number of tourists each year, and many of them probably forget to cash out the tickets or take them home as memorabilia. Since many of these tourists don’t visit Las Vegas regularly, their tickets often become expired.
Nice Boost for Nevada
State gaming regulations, as mentioned, stipulate that Nevada gets 75% of the entire unclaimed amount. This is certainly a nice boost to the state budget and, more importantly, a one they can practically count on.
Over the past five years since the law has been in force, Nevada claimed some $8,000,000 a year in unused slot vouchers. On the other hand, casinos are probably not thrilled they have to give up these funds, as prior to the law they got to keep all of it. However, the Assembly Bill 219 seems to be here to stay, as it offers a nice boost for the state while it doesn’t actually hurt casinos in any way.