NounSingular lottery Plural lotteries lottery (plural lotteries)
From Wiktionary under the GNU Free Documentation License. A lottery is a form of gambling which involves the drawing of lots for a prize. The word stems from the Dutch word loterij, which is derived from the noun lot meaning fate or destiny. Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. At the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in many countries, including the U.S.A. and most of Europe. This remained so until after World War II. In the 1960s casinos and lotteries began to appear throughout the world as a means to raise revenue in addition to taxes. National Lottery building located on Paseo de la Reforma in Mexico City.Lotteries come in many formats. The prize can be a fixed amount of cash or goods. In this format there is risk to the organizer if insufficient tickets are sold. More commonly the prize fund will be a fixed percentage of the receipts. A popular form of this is the "50–50" draw where the organizers promise that the prize will be 50% of the revenue. Many recent lotteries allow purchasers to select the numbers on the lottery ticket resulting in the possibility of multiple winners. The purchase of lottery tickets is, from the perspective of classical economics, irrational. However, in addition to the chance of winning, the ticket may enable some purchasers to experience a thrill and to indulge in a fantasy of becoming wealthy. If the entertainment value (or other non-monetary value) obtained by playing is high enough for a given individual, then the purchase of a lottery ticket could represent a gain in overall utility. In such a case, the monetary loss would be outweighed by the non-monetary gain, thus making the purchase a rational decision for that individual. From Wikipedia under the
GNU Free Documentation License Who wants to win millions on the lottery and spend it all on themselves? Q. It amazes me how people who win the lottery every week, who win the millions for example, how on earth they need that amount of money all for themselves?. I believe that it would be pure greed to have that kind of money and even more so if that person has a home of their own and can afford to run a car. I have none of these things and am not skilled to do a particular job even though I am educated through my own efforts and have done it all myself. Being skilled is something else and why there are unemployed people out there who can't get the training without having the money to subsidize their training in the first place. No one wants to be out of work and no one wants to be unskilled but yet, the national lottery gives out millions… [cont.] Asked by Shikira-trudi - Thu Feb 8 10:16:39 2007 - - 1 Answers - 0 Comments A. It amazes me how people who win the lottery every week, who win the millions for example, how on earth they need that amount of money all for themselves?.>> well, obviously they wanted that money for themselves. otherwise, they would not have bought a ticket. Answered by ph_yo - Thu Feb 8 10:20:33 2007 How could you write out all possible national lottery combinations, manually or using excel? Q. Is there a protocol that could calculate every possible lottery line (all 13,983,816 of them) without writing or typing them out manually? Experts in excel required. It was the simplest way to explain the method I need to replicate for future use, not for the lottery. Asked by Liggo - Mon Mar 15 15:12:02 2010 - - 2 Answers - 0 Comments A. You wouldn't live long enough to complete the list.. Answered by GamBit - Mon Mar 15 19:31:47 2010 Why is the NBA lottery process of picking the balls is not showing live?
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