Lottery is a form of gambling in which numbers or symbols are drawn to determine winners. Prizes can range from cash to goods or services. Lotteries are usually run by state governments, which take the major share of winnings in tax revenue. While they have been criticized as addictive forms of gambling, they also raise money for good causes and give many people the chance to try their luck.

The first known lotteries were held in the Low Countries in the 15th century to raise funds for town fortifications and the poor. They were later used to distribute land and slaves. The word lot comes from the Old English word for “plot” or “share.” The modern sense dates from 1630s (in reference to a lottery in which plots of land were awarded by chance).

In recent years, a lottery has become increasingly popular in the United States as a way for citizens to buy chances at big prizes. But even as it grows, some experts question its efficacy and ethics.

While lottery purchases can’t be accounted for by decision models based on expected value maximization, more general utility functions that are defined on things other than the lottery outcomes can capture risk-seeking behavior. The fact that lottery tickets cost more than the expected gain makes them attractive to some individuals who wish to experience a thrill and indulge in a fantasy of becoming wealthy. The lottery is the only form of legal gambling in the United States that offers such a fantasy, and it is therefore an important part of our culture.