Exactly what is a Lottery?

A lottery is some sort of gambling that involves the drawing of numbers randomly for a prize. Lotteries are outlawed by some governments, although some endorse it to the extent of organizing a national or state lottery. Extremely common to find some degree of regulation of lottery by governments; the most frequent regulation is normally prohibition of sale to minors, and vendors ought to be licensed to advertise lottery tickets. Though lotteries have been common in america and several other countries through the 19th century, by the beginning of the 20th century, most types of gambling, including lotteries and sweepstakes, have been illegal in the U.S. and most of Europe in addition to a large number of other countries. This remained so until well after World War II. In the 1960s casinos and lotteries began to re-appear around the world for governments to boost revenue without raising taxes.

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Lotteries are available in many formats. For example, the prize is actually a fixed amount of cash or goods. In this format there is certainly risk to the organizer if insufficient tickets can be bought. And also the prize fund is usually a set percentage of the receipts. A favorite kind of this can be a “50-50” draw where the organizers promise that the prize can be 50% of the revenue. Many recent lotteries allow purchasers to find the numbers on the lottery ticket, resulting in the opportunity of multiple winners.

Classical history

The first recorded signs of a lottery are keno slips from the Chinese Han Dynasty between 205 and 187 BC. These lotteries are believed to have helped to finance major government projects similar to the Great Wall of China. From the Chinese “The Book of Songs” (2nd millennium BC.) comes a reference to a casino game of chance as “the drawing of wood”, which in context appears to describe the drawing of plenty.

The first known European lotteries were held through the Roman Empire, mainly as an amusement at dinner parties. Each guest would get yourself a ticket, and prizes would often contain fancy products such as dinnerware. Every ticket holder will rest assured of winning something. This type of lottery, however, was just the distribution of gifts by wealthy noblemen through the Saturnalian revelries. The original records of a lottery offering tickets in the marketplace could be the lottery organized by Roman Emperor Augustus Caesar. The funds were for repairs in the town of Rome, and the winners received prizes by way of articles of unequal value.

Medieval history

The first recorded lotteries to supply tickets out there with prizes through money were held in the reduced Countries in the 15th century. Various towns held public lotteries to boost money for town fortifications, also to greatly help the poor. The town records of Ghent, Utrecht, and Bruges indicate that lotteries could possibly be even older. An archive dated 9 May 1445 at L’Ecluse identifies raising funds to build walls and town fortifications, with a lottery of 4,304 tickets and total prize money of 1737 florins (worth about US$170,000 in 2014). In the 17th century it had been quite usual in the Netherlands to organize lotteries to collect money for the poor or to have the ability to raise funds for all kinds of public usages. The lotteries proved very popular and were hailed as a painless form of taxation. The Dutch state-owned Staatsloterij is the oldest running lottery. The English word lottery is derived from the Dutch noun “lot” meaning “fate”.

The first recorded Italian lottery happened on 9 January 1449 in Milan organized by the Golden Ambrosian Republic to finance the war against the Republic of Venice. However, it turned out in Genoa that Lotto became extremely popular. People used to bet on the name of Great Council members, who were drawn by chance, five out of ninety candidates every half a year . This kind of gambling was called Lotto or Semenaiu. When people wished to bet more often than twice a year, they begun to substitute the candidates names with numbers and modern lotto was created, to which both modern legal lotteries and the illegal Numbers game can trace their ancestry.