Nearly 50 Million Lottery Winners Fail to Claim Prizes

Nearly 50 Million Lottery Winners Fail to Claim Prizes

Some 48.91 million lottery winners have not claimed prizes worth W381.3 billion over the last decade (US$1=W1,129).

According to data from the Ministry of Strategy and Finance on Monday, W50.4 billion worth of lottery prizes went unclaimed in 2013, W44.2 billion in 2014, W43.8 billion in 2015, W46.7 billion in 2016 and W20.45 billion as of the end of June this year.

They include 10 jackpots worth a total of W59.98 billion, but most were the smallest W5,000 prize with 47.91 million or 98 percent of the winners, accounting for 63 percent of the unclaimed money.

“It seems that the jackpot winners forgot they had bought lottery tickets or lost them, and the W5,000 winners just couldn’t be bothered to claim their prizes”, a lottery official said.

Winners must claim their prize within a year. When the deadline expires, the ministry takes over the funds and uses them to support low-income families and underprivileged people.

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