The lottery is a big gamble, and a lot of people play it – and lose. It’s a game that has a huge impact on their lives and can destroy families. But there’s much more going on here than just a basic human liking to gamble and a desire for instant riches. Lotteries are dangling a promise of financial freedom in a time of inequality and limited social mobility.

The concept of drawing lots to determine ownership and other rights dates back centuries, and was brought to the United States by British colonists. Early lotteries raised money for towns, wars, colleges, and public-works projects, with many of the nation’s oldest universities owing their existence to such lottery-financed ventures.

State-sponsored lotteries are designed to generate revenue for their respective governments without raising taxes. This explains why 44 states and the District of Columbia now run lotteries. Six, however — Alabama, Alaska, Hawaii, Mississippi, Utah, and Nevada, home to Las Vegas — don’t.

The average American spends more than $80 a year on tickets and the chances of winning are slim. But it’s a huge amount of money that could go toward building an emergency fund, paying off credit card debt, or saving for a home or college education. The problem is that, in the rare instance of a win, those who are lucky enough to have won often find themselves worse off than before. This is because they’ve lost their jobs, blown all of their savings, and become addicted to gambling.