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Concept of lotteries, overview and the answer to why lotteries are so popular?

An introduction to lotteries

A lottery is quite an exciting, exalting and exhilarating game of luck in which the people (from all strata of the society) are allowed to participate for paying the opportunity of winning prizes. A part of the money which is taken in by the lotteries is used for awarding the winners as well as to pay off the expenses of administering, maintaining and managing the lottery. After all of this whatever money is left over is the profit. The lotteries are immensely popular and also legal in several countries across the world.

Why do the ordinary people play the lotteries?

Lotteries are really a unique event of gambling since they cost you only a very small sum of money for the chance of winning a huge jackpot. Even if the odds are very long, the larger than life winning prize or the jackpot is the chief selling feature. As more and more people buy the tickets, several jackpots keep growing, whereas odds of winning the jackpot decreases considerably. But, this hardly deters people from purchasing the tickets— usually the sales increase immensely under such circumstances.

All over the United States, all the lotteries are operated by the state governments, who have granted themselves the right to do so which means they are monopolies which do not allow the commercial lotteries as a competition against them.

Profits from the U.S. lotteries are only used to fund the government programs. Till the August of 2008, the lotteries operated in as many as forty-two states as well as in the District of Columbia. Apart from these, the lottery tickets could also be legally bought by anyone within the country from any of the states.

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