Lottery (lot’@ re) is a scheme for the distribution of prizes, usually money, in which participants pay to enter and win. A lottery involves an element of chance, and the winners are selected by random drawing. The game is usually regulated to ensure fairness and legality.

People have a natural propensity to play the lottery, and the prizes are often enticing, especially those of large jackpots. But the chances of winning are actually pretty slim, and playing the lottery can be a costly endeavor.

In modern society, a lottery is any kind of contest in which people are given the opportunity to receive a prize by random selection. Examples include a lottery for units in a subsidized housing block or kindergarten placements at a reputable public school. There are also commercial lotteries in which people are given the opportunity to buy products or services for a fixed price.

In the 17th century, state-sponsored lotteries became common in Europe to raise money for a variety of public purposes, such as supporting the poor. In the United States, they became a popular alternative to taxation and helped finance Harvard, Dartmouth, Yale, King’s College (now Columbia), William and Mary, Union, and Brown. These public lotteries were also hailed as painless forms of taxation, since they were voluntary.