A lottery is a form of gambling in which numbers are drawn for prizes. It is also a common way for state governments to raise money, often for public projects such as school construction or highways. In the United States, the lottery is a multi-billion dollar business. In addition to offering cash prizes, many lotteries provide sports teams with draft picks or other valuable goods. A number of private companies conduct lotteries.

The casting of lots for decisions and the distribution of property have a long history, but lotteries as means of raising money are comparatively recent. The first known public lotteries were held in the Low Countries in the 15th century for such purposes as town fortifications and aid to the poor. Benjamin Franklin tried to organize a public lottery in 1776 to raise funds for cannons to defend Philadelphia against the British. Private lotteries also raised the funds for Harvard, Dartmouth, Yale, King’s College (now Columbia), and other American colleges in the 18th century.

Today’s lotteries are very popular, and public opinion supports the idea that they serve a useful purpose. In states that have lotteries, the majority of adults report playing at least once a year. Moreover, they develop specific constituencies such as convenience store owners who sell the tickets; lottery suppliers (who make heavy contributions to state political campaigns); teachers in those states where the proceeds are earmarked for education; and state legislators, who quickly become accustomed to the additional revenue.