I do not think there should be an expiration date on the payout tickets. I have presented a few that were "expired" but they were honored anyway.
I also do not think the state should be entitled to the money from expired tickets or unused gift cards from retailers.
Rather after a reasonable time period, say 5 years, the retailer or casino can then book the unused ticket as income and then pay tax on it, but still honor it if it should be presented at a later date.
Sure it is a sleazy way for casinos to make a few extra dollars, but the convience of ticket-in, ticket-out is worth it to the customers.
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