During the 17th century, the Netherlands was a popular place to start lotteries. Many colonists found these games to be an easy way to fund a variety of government projects. The Dutch were particularly happy to see the lotteries work out so well, and they hailed them as painless taxation. The oldest continuously running lotteries are in the Netherlands, where the Staatsloterij was established in 1726. The word lottery comes from the Dutch noun meaning “fate.”
Although today, the United States is home to many different lotteries. Some are operated by state governments, while others are administered by provincial or municipal governments. Lotteries in Canada are administered by five regional organizations. Atlantic Lottery Corporation serves Atlantic Canada, while Loto-Quebec serves Quebec. The Ontario Lottery and Gaming Corporation administers the lottery in Ontario. Other lottery systems operate in British Columbia and the Western Canada. The US Virgin Islands is also a member of the MUSL.
The house edge for most lotteries is close to fifty percent, but many lottery enthusiasts argue that this doesn’t matter. For one thing, it’s an opportunity to win a life-changing sum of money. The house edge in lotteries is almost irrelevant when comparing it to the value of the potential life-changing payout. However, lottery aficionados will tell you that winning the lottery is worth it because the odds are virtually nonexistent.
