What is a Lottery?
Lottery is a form of gambling in which numbers are drawn at random to determine winners. Prizes may be money or goods. Often, a large jackpot is offered along with a series of smaller prizes. Lotteries are popular as fundraising tools for state governments. Some states have a single lottery, while others have multiple lotteries. Many people also play private lotteries for recreational and social purposes.
Lotteries are typically funded by a combination of ticket sales, tax revenues, and other sources such as public service advertising. Some lotteries offer one-time only prizes, while others award a set amount of money in equal annual installments over 20 years (with inflation and taxes dramatically eroding the current value).
A central element of all lotteries is the drawing, a procedure to select winning tickets or symbols. This process usually involves thoroughly mixing the pool or collection of tickets or their counterfoils; a variety of mechanical means such as shaking and tossing are employed; and finally, computers are often used. The goal is to ensure that chance, not the skill or knowledge of lottery officials, determines the selection of winners.
Lotteries have a long history as a way to raise funds. In colonial era America, lotteries were widely used to finance projects such as paving streets and building wharves. Benjamin Franklin sponsored a lottery to raise funds for cannons to defend Philadelphia against the British. Lottery proceeds were also used to build several American colleges including Harvard, Dartmouth, and Yale.