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# Lottery

A lottery drawing being conducted at the television studio at Texas Lottery Commission headquarters

A lottery is a form of gambling that involves the drawing of numbers for a prize. Lotteries are 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; the most common regulation is prohibition of sale to minors, and vendors must be licensed to sell lottery tickets. Though lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes.

Lotteries come in many formats. For example, 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.[citation needed] Many recent lotteries allow purchasers to select the numbers on the lottery ticket, resulting in the possibility of multiple winners.

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• ✪ Why Winning The Lottery Is The Worst Thing That Can Happen To You
• ✪ How To Win The Lottery In 5 Steps
• ✪ 7 Things To Do If You Win The Lottery

No doubt you’ve all had the conversation with your friends about what you would do if you won the lottery. How much would you give away to family and friends- how many problems might that cause?. Or would you just spend, spend, spend, and live a life of selfish luxury? According to CNN Money the biggest lottery win ever was $1.586 billion, but it was divided between three people. A year later in 2017, one woman scooped$758.7 million and she decided to take the lump sum of $480.5 million. If you don’t know, you can take your win divided over a number of years or all at once. Sounds great, but tell us what you think about that after this episode of the Infographics Show, When winning the lottery was a horrible curse. You may have already seen the documentaries, in which lottery winners find themselves surrounded by cunning relatives and friends suddenly emerging from the past, all wanting a piece of the pie. You will know how it can tear families apart, which often sounds like a tale of biblical greed. These are sad stories for sure. The last one might even bring a tear to your eye. 10: Return of the killer lover Aged 42, Doris Murray must have thought she was the luckiest woman alive when she picked up$5 million after winning the Georgia lottery in 2007. It’s said her plan was to start a trust fund for her grandchildren. But Murray only got to live with her winnings one year as her ex-boyfriend came back on the scene begging. She wasn’t interested in getting back with him or sharing cash with him, and so he stabbed her to death. He was arrested soon after. A lose-lose situation, which we will see is often the case with lottery greed. 9: A murderer in the family A guy called Jeffrey Dampier had a similar fate, except this time it was family with blood on their hands. 39-year old Dampier was over the moon when he won $20 million in 1996, and it’s reported that he wasn’t stingy, either, treating family and friends with his cash. His sister-in-law and her boyfriend got the idea to take Dampier’s winnings and together they kidnapped him and then shot him in the head. The pair were soon arrested. Dampier’s widow was later asked what winning the lottery had done for her husband. “I think it is a curse,” she replied. 8: Don’t trust anyone In 2009 a man with a great name, Abraham Shakespeare, won$30 million in the Florida lottery when he was 42-years old. The former laborer didn’t spend big at first, buying just a Nissan Altima and a Rolex watch. According to reports he was constantly harassed by people who wanted some of his cash. He once told his brother, “I'd have been better off broke. I thought all these people were my friends, but then I realized all they want is just money.” And it got worse. He went missing and was later found buried under someone’s backyard. The killer was a woman he’d befriended who had told him she’d help him with his too-much money problems. Her name was Dorice "Dee Dee" Moore, and she’s currently serving a long prison sentence for first degree murder. 7: Drinking to the grave It’s happened numerous times, when winners have been murdered for their money. All the reports of this happening were in the USA, but self-destruction, well, that’s universal. Take the case of Brit, Keith Gough, who won £9 million (about $12 million at today’s rates) in 2005. Gough got straight down to the business of spending, betting big on soccer, horse-racing, and apparently drinking himself to oblivion. He wasn’t the brightest of lucky people, and got scammed out close to a million dollars after giving it to some shady guy to invest. He not only ended up selling everything he had bought, including racehorses, a top of the line BMW, his executive box at Aston Villa Football Club and a large country villa, but he got into money troubles. He died of a heart attack, and financial problems and booze were to blame. His friends said the lottery virtually killed him. “Winning the money was the worst thing that happened to him. It's very sad,” said one old friend. 6: Taking your own life Then there’s the story of Billie Bob Harrell, who won$31million in the Texan lottery in 1997. He was followed around like many others by people with their hands out looking for some of his winnings. He didn’t hide the fact he was rich, though. It got so much for the poor guy that he moved and changed his phone number. He also made some terrible financial decisions, and things got worse when he got divorced. It seems it all got too much, and two years after he won, still with money in the bank, he put a gun to his own head. Prior to taking his own life he said, “Winning the lottery is the worst thing that ever happened to me.” 5: Losing everything you need Another case was the curse of Jack Whittaker, a West Virginian who won a staggering $315 million in 2002. He wasn’t too careful with his cash, having almost half a million stolen from his car where he kept a money-loaded suitcase. He later had another$200,000 stolen in a similar way. Then he was hit by grief after losing his granddaughter to a drug overdose, and then her mother- his daughter- died two years later from a drug overdose. They’d both been spending his fortune for him. “My granddaughter is dead because of the money. She was the shining star of my life, and she was what it was all about for me,” he told the press. Incredibly, years later he said he had nothing left, and was a daughter and granddaughter down. “I wish that we tore the ticket up,” he said in an interview. 4: Too much, too young Over in Scotland a wee lad of 17 called Stuart Donnelly won the lottery in 1997 – not a good year for lottery winners it seems – and talked about the pressure of being rich. He once told a newspaper that he was scared to leave the house. “It was very hard to deal with all the attention I got. I even had people camping outside my house. It put a huge strain on me and my family." He was found dead in his luxury home when he was 29. It’s thought he died of natural causes, but the press speculates the lottery win played a part in his demise. 3: Back to the trailer park Here’s another story of rags to riches and back to rags. Evelyn Basehore won $3.9 million back in 1985, but she had a taste for gambling. In 2000 she was back in a trailer park, saying she’d gambled all her money away. “I won the American dream, but I lost it, too. It was a very hard fall. It’s called rock bottom,” she said. 2: Thug life Back in the UK there’s a man by the name Michael Carroll, called a “Lottery Lout” by the press, which kinda means lottery thug. He even called himself “King of Chavs”. What is a chav? That’s a long story, but we guess you could say a chav is a young hoodlum, but more of a white trash type of hoodlum. Anyway, this young delinquent won a massive £9.7million ($12.7 million) in the UK lottery in 2002. At the time of his win, when he was just 19, he was working as a binman (trash collector) and was still wearing an electronic tag so the cops could keep an eye on him. Winning didn’t stop him from getting in trouble with the police. 10 years later and ALL the money was gone, on what he said was tons of drugs, lots of gambling, and “thousands of prostitutes.” We are not sure how he, or his poor lungs and brain managed it, but he said he had a $2,300 a day crack cocaine habit. What did he have to say about his rise and fall? “The party has ended and it's back to reality. I haven't got two pennies to rub together and that's the way I like it. I find it easier to live off £42 dole than a million.” Dole means unemployment benefits. He couldn’t get away from crime, or criminals, either. As his money was running out some blackmailers slit the throats of five of his dogs and basically ran him out of town, but not before he paid them over$150,000. 1: A mortal loss But we’ll leave you with the story of all stories, even though we are not sure you can call it a curse. In Thailand the lottery is serious business for many; it’s a way out of poverty for some who don’t have many options in life. People make merit at temples and pray for the winning numbers. Superstitious folks get exploited by seers who sell the right numbers; people see winning numbers in dreams, or if someone has, say, a strange-looking fruit growing in their garden, people will queue to pray to it and hope it gives them lottery-luck. The numbers might even appear on the license plates of crashed vehicles. A ghost may even whisper the winning numbers in someone’s ear. So yeah, it’s serious alright. So serious that in 2018 a man called Jirawut Pongphan was absolutely delighted when he found out he had the winning numbers for the lottery and was about to collect $1.8 million. The 42-year-old threw a party and got really drunk, only to wake up and not be able to find his winning tickets. It’s said he became very depressed after that and wasn’t even able to work. He then shot himself in the head. His suicide note read, “I'm really sorry, please don't bully my family, I did win the lottery prize.”. Apparently, the tickets were never found, and no one claimed the prize. After hearing all this, we guess you are thinking you’d be totally different. Are we right? How would you deal with the cash explosion to ensure you didn’t become yet another person cursed by a lottery win? Let us know in the comments!Also, be sure to check out our other video Worst Days In The History of the World. Thanks for watching, and as always, please don’t forget to like, share and subscribe. See you next time! ## Contents ## Classical history The first recorded signs of a lottery are keno slips from the Chinese Han Dynasty between 205 and 187 BC. These lotteries are believed to have helped to finance major government projects like the Great Wall of China. From the Chinese "The Book of Songs" (2nd millennium BC.) comes a reference to a game of chance as "the drawing of wood", which in context appears to describe the drawing of lots. The first known European lotteries were held during the Roman Empire, mainly as an amusement at dinner parties. Each guest would receive a ticket, and prizes would often consist of fancy items such as dinnerware. Every ticket holder would be assured of winning something. This type of lottery, however, was no more than the distribution of gifts by wealthy noblemen during the Saturnalian revelries. The earliest records of a lottery offering tickets for sale is the lottery organized by Roman Emperor Augustus Caesar. The funds were for repairs in the City of Rome, and the winners were given prizes in the form of articles of unequal value. ## Medieval history The first recorded lotteries to offer tickets for sale with prizes in the form of money were held in the Low Countries in the 15th century. Various towns held public lotteries to raise money for town fortifications, and to help the poor. The town records of Ghent, Utrecht, and Bruges indicate that lotteries may be even older. A record dated 9 May 1445 at L'Ecluse refers to raising funds to build walls and town fortifications, with a lottery of 4,304 tickets and total prize money of 1737 florins[1] (worth about US$170,000 in 2014).[2] In the 17th century it was quite usual in the Netherlands to organize lotteries to collect money for the poor or in order to raise funds for all kinds of public usages. The lotteries proved very popular and were hailed as a painless form of taxation. The Dutch state-owned Staatsloterij is the oldest running lottery. The English word lottery is derived from the Dutch noun "lot" meaning "fate".

The first recorded Italian lottery was held on 9 January 1449 in Milan organized by the Golden Ambrosian Republic to finance the war against the Republic of Venice. However, it was in Genoa that Lotto became very popular. People used to bet on the name of Great Council members, who were drawn by chance, five out of ninety candidates every six months . This kind of gambling was called Lotto or Semenaiu. When people wanted to bet more frequently than twice a year, they began to substitute the candidates names with numbers and modern lotto was born, to which both modern legal lotteries and the illegal Numbers game can trace their ancestry.

## Early modern history

### France, 1539–1789

King Francis I of France discovered the lotteries during his campaigns in Italy and decided to organize such a lottery in his kingdom to help the state finances. The first French lottery, the Loterie Royale, was held in 1539 and was authorized with the edict of Châteaurenard. This attempt was a fiasco, since the tickets were very costly and the social classes which could afford them opposed the project. During the two following centuries lotteries in France were forbidden or, in some cases, tolerated.

### England, 1566–1826

An 1809 lottery drawing at Coopers' Hall in London

Although the English probably first experimented with raffles and similar games of chance, the first recorded official lottery was chartered by Queen Elizabeth I, in the year 1566, and was drawn in 1569. This lottery was designed to raise money for the "reparation of the havens and strength of the Realme, and towardes such other publique good workes". Each ticket holder won a prize, and the total value of the prizes equalled the money raised. Prizes were in the form of silver plate and other valuable commodities. The lottery was promoted by scrolls posted throughout the country showing sketches of the prizes.[3]

Thus, the lottery money received was an interest free loan to the government during the three years that the tickets ('without any Blankes') were sold. In later years, the government sold the lottery ticket rights to brokers, who in turn hired agents and runners to sell them. These brokers eventually became the modern day stockbrokers for various commercial ventures. Most people could not afford the entire cost of a lottery ticket, so the brokers would sell shares in a ticket; this resulted in tickets being issued with a notation such as "Sixteenth" or "Third Class".

Many private lotteries were held, including raising money for The Virginia Company of London to support its settlement in America at Jamestown. The English State Lottery ran from 1694 until 1826. Thus, the English lotteries ran for over 250 years, until the government, under constant pressure from the opposition in parliament, declared a final lottery in 1826. This lottery was held up to ridicule by contemporary commentators as "the last struggle of the speculators on public credulity for popularity to their last dying lottery".

### Early United States 1612–1900

An English lottery, authorized by King James I in 1612, granted the Virginia Company of London the right to raise money to help establish settlers in the first permanent English colony at Jamestown, Virginia.

Lotteries in colonial America played a significant part in the financing of both private and public ventures. It has been recorded that more than 200 lotteries were sanctioned between 1744 and 1776, and played a major role in financing roads, libraries, churches, colleges, canals, bridges, etc.[4] In the 1740s, the foundation of Princeton and Columbia Universities was financed by lotteries, as was the University of Pennsylvania by the Academy Lottery in 1755.

During the French and Indian Wars, several colonies used lotteries to help finance fortifications and their local militia. In May 1758, the Commonwealth of Massachusetts raised money with a lottery for the "Expedition against Canada".

Benjamin Franklin organized a lottery to raise money to purchase cannon for the defense of Philadelphia. Several of these lotteries offered prizes in the form of "Pieces of Eight". George Washington's Mountain Road Lottery in 1768 was unsuccessful, but these rare lottery tickets bearing Washington's signature became collectors' items; one example sold for about $15,000 in 2007. Washington was also a manager for Col. Bernard Moore's "Slave Lottery" in 1769, which advertised land and slaves as prizes in The Virginia Gazette. At the outset of the Revolutionary War, the Continental Congress used lotteries to raise money to support the Colonial Army. Alexander Hamilton wrote that lotteries should be kept simple, and that "Everybody ... will be willing to hazard a trifling sum for the chance of considerable gain ... and would prefer a small chance of winning a great deal to a great chance of winning little". Taxes had never been accepted as a way to raise public funding for projects, and this led to the popular belief that lotteries were a form of hidden tax. At the end of the Revolutionary War the various states had to resort to lotteries to raise funds for numerous public projects. ### German-speaking countries The first big lottery on German soil was held in 1614 in Hamburg. In Austria the first lottery was drawn in 1751, during the reign of Empress Maria Theresia, and was named Lotto di Genova since it was based on 90 numbers. ### Spain, 1763 Spain offers a wealth of lottery games, the majority of which are operated by Loterías y Apuestas del Estado with the remaining lotteries operated by the ONCE and the Catalan government. The first Spanish lottery game was played back in 1763 and, over the last two centuries, playing the lottery in Spain has developed into a tradition. The Spanish Christmas Lottery (officially Sorteo Extraordinario de Navidad [soɾˈteo ekstɾaorðiˈnaɾjo ðe naβiˈðað] or simply Lotería de Navidad [loteˈɾia ðe naβiˈðað]) is a national lottery. It is organized every year since 1812 by a branch of the Spanish Public Administration, now called Loterías y Apuestas del Estado. The name Sorteo de Navidad was used for the first time in 1892. The Spanish Christmas lottery is the second longest continuously running lottery in the world. This includes the years during the Spanish Civil War when the lottery draw was held in Valencia after the Republicans were forced to relocate their capital from Madrid. After the overthrow of the Republican government the lottery continued uninterrupted under the Franco regime. ## Modern history by country Notable prizes on different continents are: Prize (local currency) Lottery Country Winner Date Notes$1.586 billion pre-tax Powerball  United States Three winners 13 January 2016 World's largest jackpot
€185 million or £161 million EuroMillions  United Kingdom One ticket holder from Scotland[5] 12 July 2011 Europe's largest jackpot
RMB¥ 570 million China Welfare Lottery  China One ticket holder from Beijing 12 June 2012 Asian largest prize and the biggest prize taken in China
R$244 million Mega-Sena Brazil Three ticket holders from Franca (SP), Aparecida de Goiania (GO) and São Paulo. 31 December 2012 South America's largest prize A$112 million OZ lotto  Australia Four winners 6 November 2012 Australia's highest lottery prize

### Australia

The first lottery in Australia took place in the 1880s in Sydney. It was a private sweepstakes that was quickly prohibited, despite being moved to other areas such as Queensland and Victoria.[6] In 1916, the Australian government started their own lottery, named the 'Golden Casket Art Union', with the intention of raising money for charities and projects. Its first draw is credited with raising funds for veterans of World War One.[7]

Lotteries in Canada are administered by five regional organizations; the Atlantic Lottery Corporation (which serves Atlantic Canada), Loto-Québec, the Ontario Lottery and Gaming Corporation, the Western Canada Lottery Corporation (which serves Western and Northern Canada, excluding British Columbia), and the British Columbia Lottery Corporation. The five regional lotteries are members of a consortium known as the Interprovincial Lottery Corporation, which administrates national games, including the flagship Lotto 6/49 and Lotto Max. The five lotteries offer draw games, scratch cards, and sports betting—the latter primarily under the brand Sport Select.

The precursor to legal lotteries were the underground "numbers game" of the 1800s, which operated out of "Policy shops" where bettors choose numbers. In 1875, a report of a select committee of the New York State Assembly stated that "the lowest, meanest, worst form ... [that] gambling takes in the city of New York, is what is known as policy playing". The game was also popular in Italian neighborhoods known as the Italian lottery, and it was known in Cuban communities as bolita ("little ball").[21] By the early 20th century, the game was associated with poor communities, and could be played for as little as $0.01. The game's attractions to low income and working class bettors were the ability to bet small amounts of money, and that bookies could extend credit to the bettor. In addition, policy winners could avoid paying income tax. Different policy banks would offer different rates, though a payoff of 600 to 1 was typical. Since the odds of winning were 1000:1, the expected profit for racketeers was enormous.[21] The first modern government-run US lottery was established in Puerto Rico in 1934,[22] followed by New Hampshire in 1964. In 2018, Ohio became one of the first states to offer people a digital lottery option. The technology, developed by Linq3, allows players to play the lottery on their smart phones.[23] ### Malaysia Main article : Sport Toto in Malaysia Lottery industry start operated in Malaysia on early 1969 by Berjaya Group. Sports Toto Malaysia Sdn Bhd is a Malaysian company, which operates in the gambling sector. Founded and incorporated by the Malaysian Government in 1969, it was focused on the commercialisation of 4-Digits–based games. On 1 August 1985, the government in a non-tender privatisation, sold the company to businessman Vincent Tan who merged it into his Berjaya Group. Today, Sports Toto is a wholly owned subsidiary of Berjaya Sports Toto Berhad (MYX: 1562), which is listed on the main market of Bursa Malaysia. It claims to be the largest operator in Malaysia of 4D-based games, with 680 sales outlets offering a total of 7 games. ## Mathematical analysis The purchase of lottery tickets cannot be accounted for by decision models based on expected value maximization. The reason is that lottery tickets cost more than the expected gain, as shown by lottery mathematics, so someone maximizing expected value should not buy lottery tickets. Yet, lottery purchases can be explained by decision models based on expected utility maximization, as the curvature of the utility function can be adjusted to capture risk-seeking behavior. More general models based on utility functions defined on things other than the lottery outcomes can also account for lottery purchase. In addition to the lottery prizes, 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 disutility of a monetary loss could be outweighed by the combined expected utility of monetary and non-monetary gain, thus making the purchase a rational decision for that individual. ### Probability of winning Chances of matching different numbers of balls in a 6-from-49 lotto Number of balls matched Probability 6 1 in 13,983,816 5 1 in 1,906,884 4 1 in 211,876 3 1 in 18,424 2 1 in 1,176 1 1 in 49 0 1 in 2.3 The chances of winning a lottery jackpot can vary widely depending on the lottery design, and are determined by several factors, including the count of possible numbers, the count of winning numbers drawn, whether or not order is significant, and whether drawn numbers are returned for the possibility of further drawing. In a simple 6-from-49 lotto, a player chooses six numbers from 1 to 49 (no duplicates are allowed). If all six numbers on the player's ticket match those produced in the official drawing (regardless of the order in which the numbers are drawn), then the player is a jackpot winner. For such a lottery, the chance of being a jackpot winner is 1 in 13,983,816.[24] In bonusball lotteries where the bonus ball is compulsory, the odds are often even lower. In the Mega Millions multi-state lottery in the United States, 5 numbers are drawn from a group of 75 and 1 number is drawn from a group of 15, and a player must match all 6 balls to win the jackpot prize. The chance of winning the jackpot is 1 in 258,890,850.[25] The odds of winning can also be reduced by increasing the group from which numbers are drawn. In the SuperEnalotto of Italy, players must match 6 numbers out of 90.[26] The chance of winning the jackpot is 1 in 622,614,630.[27] Most lotteries give lesser prizes for matching just some of the winning numbers, with a lesser prize for fewer matches. Although none of these additional prizes affect the chances of winning the jackpot, they do improve the odds of winning something and therefore add a little to the value of the ticket. ## Scams and frauds Lotteries, like any form of gambling, are susceptible to fraud, despite the high degree of scrutiny claimed by the organizers. Numerous lottery scams exist. Some advance fee fraud scams on the Internet are based on lotteries. The fraud starts with spam congratulating the recipient on their recent lottery win. The email explains that in order to release funds the email recipient must part with a certain amount (as tax/fees) as per the rules or risk forfeiture.[28] Another form of scam involves the selling of "systems" which purport to improve a player's chances of selecting the winning numbers in a Lotto game. These scams are generally based on the buyer's (and perhaps the seller's) misunderstanding of probability and random numbers. Sale of these systems or software is legal, however, since they mention that the product cannot guarantee a win, let alone a jackpot. There have also been several cases of cashiers at lottery retailers who have attempted to scam customers out of their winnings. Some locations require the patron to hand the lottery ticket to the cashier to determine how much they have won, or if they have won at all, the cashier then scans the ticket to determine one or both. In cases where there is no visible or audible cue to the patron of the outcome of the scan some cashiers have taken the opportunity to claim that the ticket is a loser or that it is worth far less than it is and offer to "throw it away" or surreptitiously substitute it for another ticket. The cashier then pockets the ticket and eventually claims it as their own.[29] The BBC TV series The Real Hustle showed a variation of the lottery scam in which a group of scammers pretended to have won a lottery, but was prevented from claiming the prize as the person who wrote the name on the back of the ticket was supposedly out of the country on that date. They were able to persuade a stranger to put up money as collateral in order to share in the prize pool. On some occasions, the actual lottery draw itself has been compromised by fraudsters. The 1980 Pennsylvania Lottery scandal involved weighting balls in The Daily Number. In the Hot Lotto fraud scandal software code was added to the Hot Lotto random number generator allowing a fraudster to predict winning numbers on specific days of the year.[30] In 2003, Mohan Srivastava, a Canadian geological statistician, found non-random patterns in "Tic-Tac-Toe" tickets sold by the Ontario Lottery and Gaming Corporation. "Tic-Tac-Toe" was pulled off the shelves, and became the first game ever recalled by the OLG.[31] ## Payment of prizes Winnings (in the U.S.) are not necessarily paid out in a lump sum, contrary to the expectation of many lottery participants. In certain countries, mainly the U.S., the winner gets to choose between an annuity payment and a one-time payment. The one-time payment (cash or lump sum) is a "smaller" amount than the advertised (annuity) jackpot, even before applying any withholdings to which the prize is subject. While withholdings vary by jurisdiction and how winnings are invested, it is suggested that a winner who chooses lump sum expects to pocket 1/3 of the advertised jackpot at the end of the tax year. Therefore, a winner of a$100,000,000 jackpot who chooses cash can expect $33,333,333.33 net after filing income tax document(s) for the year in which the jackpot was won. Lottery annuities are often for a period from 20 to 30 years. Some U.S. lottery games, especially those offering a "lifetime" prize, do not offer a lump-sum option. In some online lotteries, the annual payments are only$25,000, with a balloon payment in the final year. This type of installment payment is often made through investment in government-backed securities. Online lotteries pay the winners through their insurance backup. However, many winners choose lump sum, since they believe they can get a better rate of return on their investment elsewhere.

In some countries, lottery winnings are not subject to personal income tax, so there are no tax consequences to consider in choosing a payment option. In France, Canada, Australia, Germany, Ireland, Italy, New Zealand, Finland, and the United Kingdom all prizes are immediately paid out as one lump sum, tax-free to the winner. In Liechtenstein, all winnings are tax-free and the winner may opt to receive a lump sum or an annuity with regard to the jackpot prizes.

In the US, federal courts have consistently held that lump sum payments received from third parties in exchange for the rights to lottery annuities are not capital assets for tax purpose. Rather, the lump sum is subject to ordinary income tax treatment.

## Collecting

Used lottery tickets still hold value for collectors. Ticket's popularity depends on its rarity, condition, and theme. For some collectors, the type of a lottery can also be important. Online clubs offer catalogs with information about a ticket's draw frequency, lottery type, and composition.[32]

The hobby of collecting and studying lottery tickets is called lotology and a person who collects lottery tickets is lotologist.

## References

1. ^ R. Shelley (1989). The Lottery Encyclopedia. Austin, TX: Byron Pub. Services. p. 109.
2. ^ "Historical Currency Conversions". Futureboy.us. Retrieved 2014-05-13.
3. ^ John Ashton, A History of English Lotteries, 1893.
4. ^ John Samuel Ezell, Fortune's Merry Wheel, 1960.
5. ^ Diffley, Sean. "The World's Biggest Lottery Jackpots ("News" blog)". lottosocial.com. Retrieved 2018-10-08.
6. ^ "Lottery Online - Lotto Tickets & Results - World Lottery Club". www.worldlotteryclub.com. Archived from the original on 2014-12-14. Retrieved 2014-12-03.
7. ^ "Our History". tatts.com.
8. ^ "Mississauga ticket holder wins record $64M Lotto 6/49 jackpot". CBC News. Retrieved 19 October 2015. 9. ^ Lotenal.gob. "About Us – Who Are We?". Archived from the original on 23 June 2012. Retrieved 30 May 2012. 10. ^ NASPL.org. "Member Lotteries". Archived from the original on 25 May 2012. Retrieved 30 May 2012. 11. ^ "History". The Government Lottery Office (GLO). Retrieved 10 June 2015. 12. ^ "Winning Number Sheet" (PDF). The Government Lottery Office (GLO). Retrieved 10 June 2015. 13. ^ 10 อันดับ สถานที่ขอหวย ที่ฮิตมากที่สุด ในประเทศไทย 14. ^ "Camelot gets nod for UK lottery". BBC News. Retrieved 2017-08-05. 15. ^ The National Lottery. "Where The Money Goes". Retrieved 30 May 2012. 16. ^ Ramesh, Randeep; editor, social affairs (2011-09-27). "Richard Desmond's health lottery branded a 'disgrace'". The Guardian. ISSN 0261-3077. Retrieved 2017-08-05. 17. ^ Benjamin, Alison (2011-10-19). "Is the health lottery good news for charities?". The Guardian. ISSN 0261-3077. Retrieved 2017-08-05. 18. ^ Halliday, Josh (2011-10-27). "Richard Desmond's Health Lottery under scrutiny by watchdog". The Guardian. ISSN 0261-3077. Retrieved 2017-08-05. 19. ^ "No winning Powerball tickets sold; jackpot hits$1.3 billion". Los Angeles Times. Retrieved 11 January 2016.
20. ^ "How Powerball manipulated the odds to create a \$1.5 billion jackpot". Washington Post. Retrieved 13 January 2016.
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24. ^ ${\displaystyle 13983816={\frac {49!}{6!\,43!}}}$
25. ^ ${\displaystyle 258890850=15\,{\frac {75!}{5!\,70!}}}$
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27. ^ ${\displaystyle 622614630={\frac {90!}{6!\,84!}}}$
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