American Pharoah Winning Tickets NOT Cashed in... Wait, What?
Contributed By Dave "Daily Double" WildermuthPosted on 6/10/15 7:33 AM
Saturday, June 6th, 2015 American Pharoah caputured the sports world at the 147 running of the Belmont Stakes winning the first Triple Crown in 37 years! American Pharoah was a heavy favorite with 3-5 odds going into the race. These are not the best money making odds yet many people did bet on American Pharoah to win. 94,128 people to be exact bet $2 for American Pharoah to win. Only 3,891 fans who had winning tickets cash them in! This means that 90,237 winning tickets were NOT cashed!. It is surprising that 96% of the people who bet on this Triple Crown winning Thoroughbred have not cashed in their tickets.
But why would someone with a winning ticket not collect their winnings? For one, many people may want to keep that special Triple Crown winning ticket as a memory. You can always have that uncashed ticket to remember that special moment when American Pharoah become only the 12th horse to win the Triple Crown. Another theory is that fans are treating these tickets as collectors items. On a $2 winning ticket, the payout is 3.60. Some gambling entrepreneurs, or as I like to call them gamlinpreneurs, have even posted their winning tickets on eBay! These tickets are selling for well over their "Cash in" value at the track! Take a look at a few of the sold listing below.
American Pharoah Winning Tickets Sold on Ebay - Photo by Dave Wildermuth
You might be wondering, "What happens to that winning ticket if its not cashed? Can you cash it in a year, 5 years, 10 years? Actually, winning tickets can be cashed in until March 31st 2016. If winning tickets are not cashed by then, the money goes to the State of New York. (Not a bad deal for the Empire State).
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