What is the purpose of the lottery?

Question

and where does the funding come from?

Answer 1

People  Do Lottery To Gain Money Example: If A Gamble Shop Was Not Earning Money Would You Think They Would It Wold Still Be Open Running?

If 1 Lottery Ticket was Selling $2 And 1,0000 Persons Buy, And Only 1 wins the will be earning more than they is are giving Away (So it is very easy to understand the purpose of lottery)

Answer 2

The funding comes from the players buying the lottery tickets.

Say 10 million people each buy a lottery ticket for a dollar.

The lottery office just collected $10,000,000.

Even if the winning amount were $10,000,000, no player will ever get half of that money.

If you take a one lump sum payout, the taxes you have to pay would be enormous.

All of that tax money goes to the state that the lottery was held in.

The state benefits more than you do.

If you decide to collect the money on a time basis (say $100,000 a year for life) - you're not going to live for a hundreds years to collect it all and you still have to pay yearly taxes on it.

Meanwhile the lottery office is collecting interest on all of that money.

$10,000,000 sitting in a bank account earning 5% is $400,000 a year.

Answer 3

I think it is to give people with gambling adicctions hope that they will get millions of dollars

Answer 4

TO win money and i dont know

Answer 5

The purpose of lottery for most people is just to win the money, the jackpot. They think that when they win the big money they can take a break from work and have a vacation in luxury.

The funding comes from the commercials that run on the channel where the lottery shows.

Answer 6

The Lottery Comes to America

After American colonial times in the 1700's, the lottery was a favorite past time, especially of America’s founding fathers. Benjamin Franklin financed cannons for the Revolutionary war using lottery money. George Washington operated a Virginia lottery to finance construction of roads to the west. A debt-ridden Thomas Jefferson once held a lottery to dispose of his property and find some badly needed cash.

Of course, all of these lotteries are now defunct. Amazingly, the Netherlands Lottery, which was founded in 1726, is still in operation today. It is officially the oldest lottery in the world.

Lotteries really took off in the United States after the adoption of the constitution and used to fund over 300 schools and 200 churches. The lottery helped found universities such as Columbia, Harvard, Princeton and Yale. The game was used to fund civic improvements, including orphanages, libraries, hospitals, jails and courthouses. This trend began to lose momentum in 1820, when corruption began to plague privately owned lotteries, which often advertised big jackpots and then awarded no prizes at all.

After 1820, a civic battle began in North America to ban public lotteries. Church-led organizations often led the fight for social reforms.The lottery was on a list of hot button issues, along with the prohibition of alcohol, the abolition of slavery and workers rights. Through the rest of the 19th century and into the early 20th century, anti-lottery reformers sought to ban the lottery. This became an issue through most states and provinces in the United States and Canada.

In 1819, the Province of Quebec made lotteries illegal. This was followed by the state of New York in 1820. By 1856, all lotteries were banned in Canada. This was followed by a ban of lottery materials by mail in 1890 in the United States. In 1905, The U.S. Supreme court prohibited all gambling, ending the successful century old reign of the Louisiana Lottery.

Twentieth Century Lotteries

The new century brought a revival of the lottery, beginning with the Queensland State Lottery of Australia in 1917. The establishment of the Irish Sweepstakes in 1930 followed this.

It wasn’t until 1964 that the United States would see a lottery again. Gambling was legalized in 1969 in Canada, giving provinces the permission to operate lotteries and casinos that gave the proceeds to charitable or religious causes. Manitoba and Quebec pioneered the first modern Canadian lotteries. This was quickly followed by a legal state lottery south of the border in New Jersey where tickets costs 50 cents for a weekly drawing. In it’s first year, New Jersey sold $73 million in tickets.

In 1973, The Olympic Lottery Corporation of Canada used the lottery to begin funding the 1976 Olympics that were to be held in Montreal. That year, the popularity of today’s lotteries was sealed as the sales for all lotteries in North America surpassed $500 million. 1973 was also a landmark year for the lottery, as technology brought the game into the modern age. The first secure instant ticket was developed by a company called Scientific Games.

Soon after this success, other laws followed that made playing the lottery more accessible to North Americans. This included the incorporation of countless private, state wide, federal and (in Canada) province run lotteries. This included amendments to allow state lotteries to once again advertise through the mail as well as on billboards, radio and television. By 1999, more than 100 foreign lotteries were in operation. To this day, the biggest lottery win in history has been $363 million, shared by two winners of a Big Game drawing.

Answer 7

-- to take poor peoples money

Answer 8

The purpose of the lottery is to win large amounts of money and become rich. You don't need to work anymore and can do almost anything with all the money. To win the money you have to buy a ticket, scratch card, etc. and in Canada you have to be at least 18 to purchase one. The lottery company makes so much money from all the people who buy tickets that the jackpot is only a small amount of what the company actually makes.

Answer 9

it's just a chance to give people a chance to get money, i'm not sure where the funding comes from though

Answer 10

The idea for the lottery was invented by the Chinese. Generals and Emperors used lotteries to finance expensive armies and building projects (the Great Wall was funded by state lotteries).

European monarchies also used lotteries to finance state projects and what not.

These days though, lotteries are used to entertain the masses with a little bit of hope and there is still the useful tax revenue.

The funding comes from the players. That is, the lottery collects more money than it gives to winners. The lottery is actually even worse that slots in terms of odds (usually around 30% house edge) but they get away with it because they are usually monopolies and no-one complains after recieving tens of millions of dollars.

good luck

Answer 11

The purpose of most lotterys is to raise money for schools and other noble projects.The reason most people play is for the very remote chance of winning so they don't have to work any more.

Answer 12

the feeling of winnig 50 thousand times more money than you paid for the ticket or just being a looser who cant win anything. some people enjoy gambling. and to some its addicting.