DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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November 24th, 2021 at 5:12:21 PM permalink
At least in MD it is.

I know in the past it’s been discussed that if you find a TITO, you could be in trouble for picking it up, using it, cashing it and whatever.

However, my wife just returned from a trip to Washington DC, and while there, she stopped at MGM National Harbor.

She showed me her souvenir of the 11¢ ticket she got after she cashed in. We had a whole conversation about it and all the stuff that’s been discussed here and elsewhere about it.

But the real interesting part is, I turned it over and I started to read the fine print. The very first sentence jumped out at me. ”This ticket is a bearer instrument.”

Doesn’t that mean that if you find tickets lying around you can just pick them up and they’re now yours? Sounds it to me. And if so, what does that say about credits left behind in machines?

Here’s that important part:


Here’s both sides in full:

I invented a few casino games. Info: http://www.DaveMillerGaming.com/ ————————————————————————————————————— Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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November 24th, 2021 at 5:22:02 PM permalink
People keep leaving pocket change on the Bubble Craps machine. I'll print it up and put it in my terminal.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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November 24th, 2021 at 7:49:08 PM permalink
Good stuff, DJ. I just read the back of my $0.16 TITO and it also says it is a "bearer instrument."

How does that change anything? I'll just say that if not paying players their coins causes players to leave TITO vouchers laying around and that attracts vagrants, then I would have no sympathy for the casinos and hope the money does fall in the hands of the homeless or whoever needs the money so much to go around collecting them.

If anyone feels that is a political statement, please report it to any other moderator and I'll accept whatever they rule. In my defense, it is gambling related.
It's not whether you win or lose; it's whether or not you had a good bet.
Wizard
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Wizard
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Thanks for this post from:
RogerKintodiousgambit
November 24th, 2021 at 7:51:46 PM permalink
Quote: ChumpChange

People keep leaving pocket change on the Bubble Craps machine. I'll print it up and put it in my terminal.
link to original post



Now I understand why you call yourself "ChumpChange."
It's not whether you win or lose; it's whether or not you had a good bet.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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November 24th, 2021 at 8:48:28 PM permalink
I'm sure I chose my name when coin returns actually worked in casinos.

"Prior to TITO, casinos ordered millions of dollars of coin per week – predominantly nickels, quarters and half-dollars – placing a substantial strain on banks. Now, casinos very seldom order coin and when they do, it is generally pennies and dimes to make change." https://tinyurl.com/y5xxdlwj
MrV
MrV
Joined: Feb 13, 2010
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November 24th, 2021 at 11:21:33 PM permalink
Stocks and bonds are bearer instruments.

They are redeemable on sight, but left unresolved is the question of ownership.

There's the rub.
"What, me worry?"
BleedingChipsSlowly
BleedingChipsSlowly
Joined: Jul 9, 2010
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November 25th, 2021 at 2:34:44 AM permalink
How a TITO is acquired is important. If the status of the ticket is abandoned I would expect no problems using it. If it is classified as lost or mislaid there may be an issue. Many states have a “theft by taking” statute. Clearly such statutes apply when someone swipes a cell phone while the owner isn’t looking, but I recall such a statute being applied when money or chips are picked up from a casino floor.

The bearer instrument clause allows you to freely transfer ownership. I don’t think it means possession establishes ownership, but that whoever redeems the instrument can safely assume the holder is the owner.
Last edited by: BleedingChipsSlowly on Nov 25, 2021
“You don’t bring a bone saw to a negotiation.” - Robert Jordan, former U.S. ambassador to Saudi Arabia
rsactuary
rsactuary
Joined: Sep 6, 2014
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November 25th, 2021 at 1:42:10 PM permalink
Quote: MrV

Stocks and bonds are bearer instruments.

They are redeemable on sight, but left unresolved is the question of ownership.

There's the rub.
link to original post



Only if unregistered. 99.99% of stocks nowadays are registered. (I made that percentage up, please don't challenge me on that, but you get the point - an overwhelming majority are now registered).

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