A competition based on chance in which numbered tickets are sold and prizes given to the holders of those numbers. Also called lot*ter*y (lot’
Something whose outcome seems to be determined by chance: Life is a lottery.
Lottery is a popular pastime for many people, offering the opportunity to fantasize about winning a fortune at a price of only a few dollars. But for low-income people, who make up a significant share of lottery players, these games can become a serious drain on their budgets. Indeed, critics say that the lottery is a disguised tax on the poor.
The first state-sponsored lotteries were recorded in the Low Countries in the early 15th century, raising money for town fortifications and to help the needy. In modern times, lottery revenues have grown rapidly and new games are constantly being introduced. Normally, the costs of organizing and promoting the lottery and a percentage of the overall pool are deducted from the prize money. The remainder goes to the winners.
Most state-run lotteries operate as a business, with the primary goal of maximizing revenues. As a result, advertising necessarily focuses on persuading target groups to spend their money on the games. This is often at odds with the wider public interest in minimizing problem gambling and other adverse social effects of the lottery. It has also led to a situation in which state officials are dependent on revenue streams that they have little control over, and in which their decisions are constrained by factors outside their control.