Lottery is a form of gambling in which people pay a small sum to have the chance to win a large sum. Some governments run lottery games to raise money for specific projects. In the United States, for example, there are state lotteries that provide prizes for picking the correct numbers. The prize money for winning a lottery may be used to improve roads, schools, or other public facilities. In addition, some states allow private organizations to hold lotteries in order to raise funds for a specific project. The practice of distributing goods, land, or slaves by lottery dates back to ancient times. The Old Testament instructed Moses to take a census of Israel’s people and then divide the land by lot, and Roman emperors gave away property and slaves through lotteries during Saturnalian feasts.

The Continental Congress ran a lottery in 1776 to try to raise money to fight the American Revolution, and Alexander Hamilton wrote that “a large majority of persons will be willing to hazard trifling sums for the hope of considerable gain.” After the Revolutionary War, several states started their own lotteries to raise money for government projects. In the 19th century, privately organized lotteries were common in England and America as a way to sell products and properties for more money than could be obtained from a regular sale. Lotteries also helped fund the construction of Harvard, Dartmouth, Yale, King’s College (now Columbia), William and Mary, Union, and Brown colleges.