Lottery (plural lotterys):
A gambling game or method of raising money for a public charitable purpose in which tickets are sold and the winners are selected by lot. Some lotteries are state-sponsored, and many people also organize private lotteries.
In the US, about half of adults play lotteries. While some critics believe that lotteries promote addictive forms of gambling, there is no doubt that they raise funds for important government and civic projects. They have helped to fund the British Museum, bridge repairs, and even the Boston Faneuil Hall.
Most modern lotteries offer a series of numbered tickets for sale to the public, with prizes offered for matching certain combinations of numbers. In the past, some lotteries were abused by fraudsters and organized crime. These abuses strengthened the arguments of opponents, but they did not stop lotteries altogether. The great majority of the money now raised by lotteries is used for education, health, welfare, and social security.
Historically, the first state-sponsored lotteries were held in the 15th century, with towns using them to raise money for town fortifications and to help the poor. The word lottery may have been derived from the Middle Dutch Loterie, or from a calque on Middle French loterie, both of which are based on the Latin verb lotio “to draw” or “select by lots.”
Those who play lotteries should make sure they have adequate financial resources to weather an unexpected emergency or to pay off debt. In addition, winning the lottery is often a life-changing event that can have unexpected tax consequences.