A gambling game, or method of raising money for some public charitable purpose, in which a large number of tickets are sold and a drawing is held for certain prizes. The word derives from the Dutch loterij, literally “fateful ticket,” and was adapted by American colonists for use in their early public works projects, such as building roads and wharves. It was also used to fund institutions like Harvard and Yale. George Washington even sponsored a lottery to help build the road from Virginia to Georgia in 1768.
In the United States, lotteries typically raise about 2 percent of a state’s total revenue — not a bad sum, but far less than the amount that would be required to reduce taxes or significantly bolster government spending. As a result, many people believe that lottery proceeds are a form of hidden tax.
The truth is that lottery winnings, if any are received at all, are usually paid out in an annuity, or series of installment payments over time. Winnings are often subject to income taxes and withholdings, which will reduce the amount actually received by the winner. But if you talk to lottery players, they go into the game clear-eyed about the odds of winning. They may have quotes-unquote systems about lucky numbers, stores, or times of day to buy tickets, but they are aware that the odds are long.
That awareness, however, does not necessarily prevent them from buying a ticket. Some people who play the lottery spend $50 or $100 a week on tickets. These people disproportionately come from lower-income households, are less educated, and tend to be nonwhite. But they all have one thing in common: They are convinced that the lottery is their last, best, or only chance of getting ahead.
There are plenty of reasons why this is a dangerous belief to have. Among other things, it can lead to financial ruin and a downward spiral of family life. Moreover, it can have the unintended consequence of undermining the value of hard work. But perhaps the biggest danger is that it leads to the false idea that luck, not effort, determines success.
Whether you win the jackpot or not, there are better ways to spend your time and money. And if you’re not careful, you might just start looking upon life as a lottery, with luck determining everything from the type of car you drive to who you marry. And don’t forget: the odds of that happening are a lot longer than your chances of getting struck by lightning. This story originally appeared on The Atlantic.