Lottery is a form of gambling in which players purchase tickets for a chance to win a prize. Prizes are usually cash or goods. In many jurisdictions, lotteries are regulated by government agencies. The money collected from ticket sales is used for public purposes, such as education, public health, and infrastructure. In some cases, it is also used to supplement public income taxes. The word lottery comes from the Dutch noun lot, meaning “fate.” The oldest running lottery in the world is the state-owned Staatsloterij of the Netherlands, which began operations in 1726.

The earliest documented instances of lotteries that sold tickets for prizes were held in the Low Countries during the 15th century. Town records from Ghent, Bruges, and Utrecht show that these early lotteries raised funds for towns, fortifications, and poor relief.

Unlike other games of chance, the chances of winning the lottery are extremely small. Despite this, the game has become a popular pastime and a source of entertainment. In addition to the monetary benefits, some people play the lottery for its social value.

Large jackpots drive ticket sales, and some states have even increased the odds to keep them growing larger. However, if the jackpot becomes too frequent, the number of tickets sold can decline. To avoid this, some states increase the number of balls in a lottery drawing, making it harder for anyone to win. This strategy has worked well for some lotteries, and has given them a reputation for being fair.