Lottery

A game in which numbered tickets are sold and prizes, such as goods or cash, are awarded according to the results of a random drawing. People use the word to mean any activity or event whose outcome depends on fate: They considered combat duty a lottery. These examples are selected automatically from various online sources to illustrate current usage of the word ‘lottery.’ This selection may not reflect how widely used the word is or how its meaning varies over time.

In the US, winnings from a state-sponsored Lottery may be paid in either an annuity or a one-time payment. If the winnings are paid out as an annuity, the winner will receive less than the advertised jackpot because of the time value of money, and the amount received will be reduced by any applicable taxes.

Nevertheless, a large percentage of Americans regularly play the Lottery, and even though they know the odds are poor, many feel compelled to take that little chance that they might win. This inexplicable human urge is partly the reason why Lottery advertisements extol their glitz and glamour.

It is also partly the reason why a lot of people spend a good deal of their incomes on Lottery tickets. But that doesn’t make the Lottery a legitimate form of gambling. Instead, it is just another way for the government to collect taxes. It is a painless form of hidden taxation that is based on the inexorable fact that some people prefer a small chance of winning a great deal to a much greater chance of losing a little.