What is a Lottery?
The lottery is a form of gambling wherein players pay for tickets and have the chance to win a prize, such as a large sum of money. Prizes are usually awarded through a process of random drawing. The term lottery is also used in sports to describe the National Basketball Association’s annual draft, which awards the 14 teams that missed the playoffs the first opportunity to pick the best talent from college.
The casting of lots to decide decisions and fates has a long history in human society, but the use of lotteries for material gain is relatively recent. The word “lottery” derives from Middle Dutch lot, which means fate or fates, and may be a calque on the Old French word loterie, meaning “action of drawing lots”.
When state governments first adopt lotteries, they typically promote them as painless sources of revenue. This argument is particularly effective during economic stress, when the prospect of tax increases and cuts in public programs threatens popular support for state government. But research has shown that the actual fiscal circumstances of a state do not appear to influence whether or when it adopts a lottery.
Once a lottery is established, it can attract an extensive, specific constituency of people that includes convenience store operators (who are the usual vendors for tickets); lottery suppliers who make substantial contributions to state political campaigns; teachers in states where lottery revenues are earmarked for education; and state legislators who quickly become accustomed to the flow of new funds. These special interests, combined with the general appeal of winning, can help to sustain a lottery even after it has become corrupted or exploitative.
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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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