A lottery is a gambling game that involves paying a small amount of money in exchange for a chance to win a prize, such as a large sum of money. The prize money is determined by a random drawing of numbers or symbols. There is no skill involved, and the odds of winning are very low.

Lottery proceeds are used for various public purposes, such as funding school programs and infrastructure. Historically, lotteries have also provided entertainment and excitement for participants and can stimulate the economy through ticket sales and related industries. Lottery games are typically regulated by state laws.

In the United States, most state-run lotteries are supervised by a lottery commission or board. These organizations establish lottery rules and procedures, select retailers to sell tickets, train retailers to use lottery terminals, redeem winning tickets, and conduct investigations of suspicious activity. Some states also operate private lotteries or participate in multi-state lotteries.

The term lottery may also refer to:

There are many benefits to playing the lottery, but it is important to understand the odds of winning before purchasing a ticket. Although the chance of winning is very low, the prizes can be significant. Some states require that winners choose between receiving a lump sum or annuity payment. The one-time payment is often a smaller amount than the advertised jackpot, because of income taxes that are withheld from the winnings. Regardless of the option chosen, it is recommended that lottery winners seek out a financial team to help them manage their newfound wealth.