The lottery is an ancient form of gambling, a game in which numbers are drawn to win money or other prizes. Prizes may be cash or goods. It is also possible to collect a lump sum or annuity. The first recorded lotteries in the modern sense of the term appear in the Low Countries in the 15th century, where towns held public lotteries to raise funds for town fortifications and poor relief.

In the United States, there are state-run lotteries. These are very profitable enterprises, generating more than $100 billion in sales each year. State governments are the biggest winners, taking in 44 cents on every dollar spent on a ticket. Retailers also get a share of the pie, and some even get bonuses for selling winning tickets.

The history of the lottery is long and varied. The oldest known lotteries were keno slips in the Chinese Han dynasty, between 205 and 187 BC. The practice dates back to ancient times, as evidenced by a passage in the Old Testament (Numbers 26:55-55) instructing Moses to divide land among the Israelites by lot. The Romans had a similar game called apophoreta, where pieces of wood were drawn for gifts at Saturnalian feasts.

The modern lottery is a popular way to raise money for a variety of causes. It is a painless alternative to traditional taxes, which many people find detestable. It is a popular pastime that can be addictive, and it can provide an opportunity for people to dream about what they would do with millions of dollars.