The Benefits of Playing the Lottery
Although making decisions and determining fates by casting lots has a long history (including several instances in the Bible), lotteries that dish out cash prizes are comparatively recent, originating in the United States in the 19th century. Since New Hampshire initiated the modern era of state lotteries in 1964, they have spread to all but two states and have garnered wide-ranging public support. They have also developed extensive, specific constituencies: convenience store operators and their vendors; lottery suppliers (heavy contributions by these companies to state political campaigns are regularly reported); teachers (in states in which lottery revenues are earmarked for education); and state legislators, who quickly become accustomed to the additional revenue.
The lottery’s popularity has been based on its promise of instant riches, fueled by the fact that the majority of players are low-income and less educated and are disproportionately black or Hispanic. These groups are more likely to play when the jackpot is large, and they are more willing than wealthier people to spend a significant share of their incomes on tickets.
While a small percentage of players can win the lottery, most lose. This negative expected value teaches them to play responsibly, limiting their spending and avoiding high-risk strategies. It also teaches them to be realistic about their chances of winning, and they can use the results of past lottery draws as a guide. The most important lesson, however, is that the lottery is not a substitute for a full-time job.