Lottery:
A form of gambling in which people purchase a ticket for a chance to win a prize, such as money or goods. The term is also used for government-sponsored schemes such as a lottery to distribute benefits and rations, to select jury members, and to award military conscription points.
State laws regulate the distribution of prizes and oversee the purchase of lottery tickets. Most governments have a separate lottery division to select and train retailers, to sell, redeem and pay high-tier prizes, and to ensure that retailers and players comply with state law.
Some modern public lotteries are designed to benefit a specific purpose, such as providing school supplies for children or building roads and bridges. Privately organized lotteries are also common.
In the United States, a person who wins the jackpot of a state or national lottery must choose whether to receive the prize in one lump sum or as an annuity (payments over time). Some winnings are subject to income taxes, so the amount received may be less than advertised.
Lottery has been in use for centuries, but it became especially popular in colonial America as a means to raise money for public and private purposes. Lottery was sometimes referred to as “voluntary taxation” because it allowed citizens to participate in a public venture without sacrificing their property rights. It was also a way to promote businesses and to finance the construction of colleges, libraries, hospitals, churches, canals, bridges, and other infrastructure projects.