During the 16th and 17th centuries, several towns and colonies held public lotteries to raise money for town fortifications, libraries, colleges, roads, canals, and public works projects. The lotteries were tolerated in some cases, but in others they were seen as a tax and a waste of money.
Alexander Hamilton, a lawyer and statesman, argued that the lotteries were a better way to raise public funds than taxes. He wrote, “People will risk trifling sums for the chance of considerable gain. The lottery is a simple and popular means of raising money for public purposes.”
Alexander Hamilton’s writings helped to spur the popularity of lotteries. The first known European lottery was held during the Roman Empire. The Roman emperors reportedly used the lottery to give away slaves.
A lotto is a low-odds game in which players pay a small amount to bet on a group of numbers from a larger set. The winning prize is usually a large cash prize.
The oldest lottery still in operation is the Staatsloterij. It was founded in 1726 and is considered to be the world’s oldest lottery.
The first known European lotteries were held in Italy, the Netherlands, and France. The Roman emperors were said to have used the lottery to give away slaves and property.
The most popular lottery is the Mega Millions. It offers five numbers drawn from a pool of numbers from 1 to 70. The prize is usually hundreds of thousands of dollars. Most lotto games are televised.
