Instant Lottery Ticket Accounting Changes Postponed
The NYS Lottery’s plan to implement changes in their accounting for instant tickets has been delayed. The Confirmed/Settled60 Inventory Management Plan announced earlier this fall was originally slated to begin on January 1, 2021 but will now launch on July 1, 2021. Starting on July 1st next year instant ticket books that are in CONFIRMED status for more than 60 days will automatically settle and be charged on the week’s invoice. The Lottery will also start a new instant ticket settlement policy on July 1st. Sales agents on 45-day settlement will change to 28-day settlement.