System, device and method for paperless wagering and payment of winnings

A system, comprising:

• a terminal adapted to read a value-applied transaction instrument, wherein the value-applied transaction instrument is associated with a balance in a financial account that is not initially established through direct funding from an individual, wherein the value-applied transaction instrument has been previously converted from a transaction instrument that initially has no cash value and cannot be used for debit, credit or stored value purchases until converted to the value-applied transaction instrument, and wherein the terminal is further adapted to receive, from a user, a transaction request using the value applied transaction instrument;
• and
• at least one processor and a non-transitory computer-readable medium including instructions that, when executed by the at least one processor, determine whether the transaction request is a lottery transaction request or a non-lottery transaction request, and, if the transaction request is a lottery transaction request, causing the at least one processor to execute instructions stored in at least one memory device to query a lottery system host via a lottery network regarding at least one of a value, game or reward involved in the transaction request, and if the transaction request is a non-lottery transaction request, causing the at least one processor to execute instructions stored in at least one memory device to route the transaction request on a non-lottery network to authorize the transaction request.

A system, comprising:

• a value-applied transaction instrument associated with a balance that is not initially established through direct funding from an individual, wherein the value-applied transaction instrument has been previously converted from a transaction instrument that initially has no cash value and cannot be used for debit, credit or stored value purchases until converted to the value-applied transaction instrument;
• at least one processor and a non-transitory computer-readable medium including instructions that, when executed by the at least one processor, establish a lottery system account associated with the value-applied transaction instrument or with a player associated with the value-applied transaction instrument;
• and
• a terminal, receiving from a user, a transaction request using the value applied transaction instrument and determining whether the transaction request is a lottery transaction request or a non-lottery transaction request, wherein if the transaction request is a lottery transaction request, the terminal queries a lottery system host via a lottery network regarding at least one of a value, game or reward involved in the transaction request, and wherein if the transaction request is a non-lottery transaction request, the terminal routes the transaction request on a non-lottery network to authorize the transaction request.

A device, comprising:

• a value-applied transaction instrument associated with a balance in a financial account that is not initially established through direct funding from an individual, and wherein the value-applied transaction instrument has been previously converted from a transaction instrument that initially has no cash value and cannot be used for debit, credit or stored value purchases until converted to the value-applied transaction instrument;
• an element integrated with the value-applied transaction instrument and readable from the value-applied transaction instrument in order to increase or decrease the balance in the account;
• an element integrated with the value-applied transaction instrument and readable from the value-applied transaction instrument in order to query a lottery system host via a lottery network regarding at least one of a value, game or reward;
• and
• an element integrated with the value-applied transaction instrument and readable from the value-applied transaction instrument in order to route the transaction request on a non-lottery network.