Redeeming a lost sports bet

I'm having a discussion with a friend. Let's say someone finds a winning sports bet on the ground. Obviously the right thing to so is turn it in as lost. However, the question is if it is ILLEGAL to try to redeem that ticket as the finder?

May only the purchaser redeem? Or is it like other lost property where finder has a right to the item over anyone but the original owner?


Is it illegal to attempt to redeem a bet ticket you find?

The usual situation is that the ticket is a mere memorandum and not a negotiable instrument but that the law does allow a person to assign his rights to someone else and that assignment can be manifested by physical transfer of the ticket.

The only loophole is that the Gaming Regs require the sportsbook to honor the ticket within the statutory time period which lets the sports book off the hook as to later arising claims of ownership.

So, yes its "found property" and like any other found property should be held for the required time period and if the proper owner fails to claim it, then it is the property of the finder. Anything else is unlawful. However, the sports book is under an obligation to cash the ticket absent knowledge of a valid claim, so it will be cashed if presented.

So do the right thing... or atleast don't get caught doing the wrong thing.

Pretty much the same way for found chips on the floor.... only there is no expiration date on the found chips. If you find them its best to go to security and file a claim, wait the thirty days and be awarded the property. If you go straight to the cashier you may get lucky but you may also get arrested.

Usually the laws at least state a reasonable effort must be made to find the rightful owner and money must be returned if the rightful owner is found. I would say it is not illegal to cash the ticket, but illegal if you know who lost it and you won't return it. Even in a state such as PA which has made everyone believe picking up a lost TITO or money is a crime, it really isn't and they just want the money for themselves. It really comes down to the laws of NV, which I really have never looked up, but most states have practically similar laws on these matters based on what I am told is common law.
There is a big pot of gold for unclaimed funds for casinos and states and they try to trick everyone into believing it belongs to them. Within less than a year of having casinos in Ohio, magically the state changes the law for the minimum reporting of unclaimed property to go from $10 to $50. I digress. People normally believe such things are illegal, because the spin has been misconstrued as an absolute truth.

Speaking of big pot of gold, the casino Arizona talking stick resort machines no longer give the coins when cashing in a ticket. For example if I had a ticket for $50.46 I would get bills for the $50 and then a new ticket for .46 cents that can only be redeemed at the main cashier cage. It such a pain in the ass, and I'm sure they make hundreds of dollars in unclaimed tickets each day

I'm sure those unclaimed partial dollars at Talking Stick add up. Another reason to do it is the fills and maintenance on the coin dispenser.

Do they at least give you 6 month to redeem them? That should enable you to stick them in your wallet...


They should have a place, perhaps near their wishing well, to drop those tickets for donation to the same charity as the wishing well.

" They should have a place, perhaps near their wishing well, to drop those tickets for donation to the same charity as the wishing well. "

Best suggestion on this forum in a long time !

Not sure on the expiration date. I'd assume it is probably 30-60 days. I like the wishing well idea as well but I'm sure there is no chance of that happening