What is a Lottery?
A lottery is an arrangement for the allocation of prizes, such as money or goods, by chance. Modern lotteries involve paying a small amount to enter for the chance to win a prize, but the word is also used more generally to describe any process in which someone has a small probability of success. The Old Testament instructed Moses to divide land by lottery, and Roman emperors gave away property by the drawing of lots. In colonial America, lottery games helped finance many early public works projects, including paving streets and building churches. George Washington even sponsored a lottery to raise money to build a road across the Blue Ridge Mountains.
The modern game of lottery was first recorded in the Low Countries in the 15th century. Town records from Ghent, Utrecht and Bruges indicate that public lotteries were used to raise money for town fortifications and to help poor people. The Dutch state-owned Staatsloterij is the oldest still running lottery (1726).
You can play the lottery by purchasing tickets in a machine, choosing a sequence of numbers or letting the computer pick random numbers for you. Some states have online or radio programs to allow people to buy tickets in advance. In the United States, the federal government regulates state-sponsored lotteries.
The prize amounts for a lottery vary, but the jackpots are often very large. A lottery winner may choose to receive the prize in a lump sum or as a series of payments over time. A lump-sum payment will have a lower value than the headline prize because of taxes.
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Source: This article was originally published on Village San Clemente
About the Agent
Jim Flores is an accomplished real estate professional providing services as both agent and broker for over 13 years. His extensive knowledge of the Southern California real estate & mortgage market has allowed him to provide an outstanding level of client satisfaction to his clientele. As co-founder founder of Sea Sell Realty Jim is committed to personalized service. His goal is to exceed client needs by applying his expertise to all aspects of the real estate industry including sales, property management, consulting, training and real estate technology. For example, Jim’s use of technology benefits his clients by utilizing tools that make transactions client friendly: electronic signing, social media ads, paper less transactions and iPad essentials.
Offering expert Home Buying and Selling Real Estate Services in: San Clemente, The Pier Bowl, Laguna Niguel, Dana Point.
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