A competition based on chance, in which numbered tickets are sold and prizes are given to those whose numbers are drawn at random; usually sponsored by a state as a means of raising money. Also used as a verb, meaning “to win the lottery.”
In general, participants pay a small amount of money for the opportunity to try to match all of the winning numbers on a particular drawing. The more tickets sold, the larger the prize money. People often choose their own numbers, but some opt for a quick-pick feature that selects numbers for them. Winners can either cash in the whole prize or share it with others who have all of the correct numbers.
The lottery is a popular source of cash for many states and governments, as well as private charities and some individuals. It is not a very efficient way to raise money, though, and it can produce erratic results. Moreover, it can promote addictive gambling behavior and has been criticised for its regressive impact on lower-income groups.
The earliest lotteries date back to the Han dynasty of China (205 and 187 BC), but they became more common in Europe during the Renaissance and especially during the Enlightenment when they were used to finance the building of roads and bridges. The lottery was one of the most important fundraising tools in the American colonies, with Benjamin Franklin running a lottery to fund the Philadelphia militia, John Hancock running one to build Faneuil Hall, and George Washington sponsoring one to build a road across Virginia’s mountain range.
