By adminsikkimeducation
a game in which tickets are sold for the chance to win prizes by random drawing. Prizes range from small amounts to a grand jackpot, but all are allocated by a process that relies wholly on chance. Traditionally, the term has also referred to a scheme for allocating property or other valuables, such as slaves.
Lotteries have long been popular as a method for raising money for public purposes. The oldest known public lotteries were in the Low Countries in the early 16th century, and many cities used them to fund town fortifications or help the poor. The Continental Congress used the lottery to raise funds for the Revolutionary War, and in the United States private lotteries were common in the mid-18th century.
Most states have embraced lotteries, with the argument that they provide “painless” revenue: citizens voluntarily spend their money on the chance to win a large sum, while politicians use the proceeds to offset the impact of tax reductions or to bolster government spending. However, a number of studies have shown that the popularity of lotteries does not appear to be linked to a state’s fiscal health.
Most states adopt a similar approach to running their lotteries: they legislate a monopoly for themselves; hire a public corporation or agency to run the games; and start with a small number of relatively simple games. They progressively add new games as revenues increase. The resulting dynamic results in rapid initial expansion of revenues followed by leveling off and sometimes decline, which has led to the introduction of more sophisticated instant games.