The casting of lots to decide fates and distribute property is a practice with an ancient history, dating back at least as far as biblical times. But the lottery as a vehicle for generating public funds is a relatively recent innovation, with state governments adopting it in the 1960s to augment their dwindling social safety nets.
Lotteries have won wide support by arguing that they are an attractive alternative to imposing more onerous tax increases or cutting essential public programs. This is particularly true in tense economic times. But it also holds up in less turbulent times. In fact, the popularity of a lottery has little to do with a state’s objective fiscal health; it is more related to the degree to which the lottery is perceived to benefit a specific public good, such as education.
Once states establish lotteries, they tend to build extensive specific constituencies, including convenience store operators (the usual vendors); suppliers (who make substantial contributions to state political campaigns); teachers (in those states where lottery revenues are earmarked for education); and state legislators (who learn to love the extra revenue). But most importantly, there is a core group of committed players that is clear-eyed about the odds and plays for real.
These are the people that are likely to play for a chance at winning a big jackpot, even though they have a lot of experience managing their regular incomes. And for these players, the key to success is to be able to identify and surround themselves with an attorney, an accountant, and a reputable financial adviser.