Is the Lottery a Waste of Your Money?

Is the Lottery a Waste of Your Money?

Lotteries can be traced back for centuries, and in some of the earliest cases the purpose of the lottery was to raise funds for some sort of community project. Of course, simple math dictates that if the lottery was designed to raise funds, that means that the total amount of the money being given away as a prize had to be less than the total raised. Queen Elizabeth I, for instance, ran a lottery to raise funds for the “reparation of the havens and strength of the Realme, and towards such other publique good workes.”