Part III: Business & Regulation · Banking, Chips & Financial Operations

45. Expiration Date

TITO Systems

The expiration date is the predetermined deadline after which a TITO ticket voucher can no longer be redeemed for cash. Standard expiration periods range from 60 to 90 days from the date of issuance, though this varies by casino policy and jurisdictional requirements. After expiration, the ticket’s value is typically removed from the casino’s TITO liability account and may be recognized as revenue (if escheatment to the state is not required). Expiration dates are printed on each ticket and encoded in the barcode. The TITO system automatically rejects expired tickets at redemption machines and cage terminals. Casinos must maintain records of expired tickets and the unredeemed amounts for accounting and regulatory purposes.

In practice

Some states require casinos to escheat the value of expired tickets to the state as unclaimed property rather than retaining it as revenue. Players should be informed of expiration policies at the time of ticket issuance.

One entry from the Casino Industry Glossary — 1,157 terms written for surveillance, compliance and operations professionals rather than for players. Definitions describe industry usage; where a term carries a regulatory meaning, verify against the instrument that governs your jurisdiction.