Lottery is a form of gambling in which participants purchase tickets and hope to win a prize. The prizes may be money or goods. The odds of winning vary widely, depending on how many tickets are sold and how many numbers match. Unlike other forms of gambling, lottery games are generally well-regulated. The game’s rules are generally written and enforced by the state or country in which it is conducted. In addition, the money won by winners is usually allocated to charitable or public purposes.

The first recorded lotteries to offer tickets with a chance to win money occurred in the Low Countries during the 15th century, raising funds for town fortifications and to help the poor. Some lotteries awarded a single large prize, while others distributed tickets with a variety of smaller prizes.

In colonial America, lotteries were important sources of funding for both private and public ventures. For example, George Washington used a lottery to raise money for construction of the Mountain Road, and Benjamin Franklin promoted lotteries in order to pay for cannons for the Revolutionary War. Lottery money helped build schools, libraries, and churches. It also provided for canals, roads, and bridges.

Today, most states have lotteries. Some operate them in-house, while others contract with private corporations to run them. The state government oversees the operation, primarily by regulating advertising and establishing the prizes. In addition, it may also establish regulations regarding the purchase and sale of tickets. Most states allocate a portion of their lottery profits to education.