The incentive to write it off is more of an accounting issue. I am
assuming they carry monies owed on winning tickets as a liability, at
some point, you want to get these off the books. Eventually you have
to acknowledge the person owed is not going to claim the funds, and
record it as a profit.
60 days is much too short a time period for this argument though, 18
months to 3 years is more like it. The 60 days is obviously an
attempt to cash-in on people who are not diligent about collecting.
···
On Feb 3, 2008 10:09 PM, Jean-Baptiste Queru <jbqueru@gmail.com> wrote:
It's possible that extending the validity of the tickets could
increase the storage requirements by a proportional amount (and the
processing time might grow by more than that). Going from 2 months to
a year could increase the stress on their system by a factor of 6 or
more and they might not have that kind of margin. Not knowing more
about their system, the possibility can't be ruled out.JBQ
On Feb 3, 2008 7:29 PM, Cogno Scienti <cognoscienti@gmail.com> wrote:
> Are you seriously claiming that the cost of keeping a few bits in a
database
> forever is significant compared to, oh, a free beer?
>
> Cogno
>
> -----Original Message-----
> From: vpFREE@yahoogroups.com [mailto:vpF…@…com] On Behalf Of
> Jean-Baptiste Queru
> Sent: Sunday, February 3, 2008 6:23 PM
> To: vpFREE@yahoogroups.com
>
> Subject: Re: [vpFREE] Re: The Wizard of Odds: Las Vegas Casino Blacklist
>
> While 60 days might be shorter than what most people would consider
> reasonable, there are still a few aspects to consider:
>
> -it can't stay open forever, because accounting rules would force the
> casino to keep the debt on the books forever.
>
> -in addition to the financial rules, keeping such tickets open also
> forces them to keep all the relevant ticket data in "live" computers,
> as opposed to being able to archive it.
>
> Don't get me wrong, I think that the casino's rules are abusive and I
> honestly think that 15 months would be a reasonable deadline to
> collect winnings, but on the other hand I disagree that the casino
> incurs no costs while keeping the ticket payable.
>
> JBQ
>
> On Feb 3, 2008 5:20 PM, Mac McClellan <mac_mcclellan@hotmail.com> wrote:
> > — In vpFREE@yahoogroups.com, "Scot Krause" <krauseinvegas@…> wrote:
> > >
> > > Name a business that we let keep money they are holding for you after
> > 60
> > > days if you don't claim it.
> > >
> > > Cogno
> > >
> > > —Not exactly money but what about drycleaners, TV repair shops,
etc?
> > >
> > > Scot
> >
> > Hey Scot – Maybe I've missed a few posts here, but are you actually
> > siding with the Casino on this one?
> >
> > Let's look at your argument: Drycleaners, TV repair shops, etc. have
> > actual physical space concerns. You can't just drop off a dozen suits
> > for dry cleaning, and for $12 each, expect them to be stored for a
> > year. Ditto a repair shop for TV's or other electronic items. I'd say
> > the same is true for an automobile left at a repair shop. It would be
> > fair for a "Storage Fee" to be charged weekly, and once the storage fee
> > exceeds the value of the item the item becomes property of the shop
> > owner. That's standard practice most places in the country (mechanic's
> > lien, etc.)
> >
> > Let's be logical here!
> >
> > When it comes to storage of MONEY it's altogether different. Are you
> > saying it's a particular burden for the casino to find a place to store
> > Michael's $2900? What expenses do you think the casino would incur in
> > this activity? What imposition has Mike placed on the hapless casino
> > by forcing them to hold his $2900 for an extra month or two?
> >
> > In fact, Michael has loaned the casino $2900 at no interest for several
> > months. I would personally be very happy if my creditors allowed me to
> > keep their funds in my savings account for several months and only
> > expected their principal returned at the end. But that's not good
> > enough for the Strat, they don't just want the interest free use of the
> > money for several months, they want it ALL.
> >
> > No logic here, just casino greed.
> >
> > Mac
> > www.CasinoCamper.com
> >
> >
> >
> >
> > vpFREE Links: http://members.cox.net/vpfree/Links.htm
> >
> >
> > Yahoo! Groups Links
> >
> >
> >
> >
>
>
> vpFREE Links: http://members.cox.net/vpfree/Links.htm
>
>
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>
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