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A Brief History of Lottery Tickets
A Brief History of Lottery Tickets
Lottery tickets have a long and colorful history. The first lottery tickets known are keno slips from the Han Dynasty in China. During the Roman Empire lotteries were used for entertainment during lavish dinner parties. The earliest recorded public lottery was organized by the Roman Emperor Caesar Augustus and the proceeds from the lottery were used for repairs in the city of Rome. One of the first European lotteries took place in the Dutch town of Sluis in the 14th century. This early lottery was the first public lottery to offer cash prizes and proved very popular. Lotteries spread across what is now known as the Netherlands and Belgium. Many of these early lotteries used the proceeds for charitable purposes. In the Netherlands lotteries were regarded as a painless kind of taxation.
Ticket based lo0tteries quickly spread to England Queen Elizabeth I chartered the first public lottery in 1566. Later the English government sold the right to sell lottery tickets to brokers who hired employees to sell the lottery tickets. Believe it or not these early lottery brokers were the forerunners of today’s stock brokers.
The history of the United States and lotteries are indelibly connected. The Virginia Company in London held private lotteries to fund the early settlement at Jamestown Virginia. In 1612 King James the First granted the Virginia Company the right to hold private lotteries. Later on lotteries played an important part in the development of Colonial America. Princeton and Columbia universities were financed by lotteries as was the University of Pennsylvania. During the Revolutionary War the Continental Congress established lotteries top fund the Continental Army. Later on the United States forgot its lottery heritage and banned lotteries and by 1900 lotteries had disappeared from the American scene.
The ban on lotteries spawned a new criminal enterprise known as the ‘numbers game.’ Most numbers games were very similar to current pick 3, pick 4 and pick 5 games offered by most state lotteries. In the 1960’s New Hampshire became the first state in modern times to sell lottery tickets. Since then 43 states, the District of Columbia, the Virgin Islands and Puerto Rico have established lotteries. Computer technology made the purchase of lottery tickets easier and more accurate. Lottery retailers are able to offer ‘quick pick’ options where numbers are selected by a random number generator. The addition of mega jackpot multi state lotteries like Powerball and mega Millions set new records for lottery ticket sales.
What does the future hole for lottery tickets? Most industry experts say that online lottery ticket sales will be extremely popular among players and boost ticket sales. Some offshore lotteries have already made the move online with great success. In New Zealand players can even have winnings deposited into personal bank accounts electronically. The UK National Lottery sells tickets online and also sells tickets for a few European lotteries such as EuroMillions. In the not so distant future most lottery experts expect paper lottery tickets to be a thing of the past.
Lottery Syndicates-Pros and Cons
Lottery Syndicates-Pros and Cons
Lottery syndicates are a popular way to play lotteries around the world. A lottery syndicate is simply a group of people who pool their money to purchase lottery tickets. Most lottery syndicates are groups of co workers who purchase lottery tickets collectively. Working together gives members of a syndicate more chances to win any given lottery through the ability to purchase several lottery tickets. The biggest win by a lottery syndicate took place on February 18, 2006 when a group of eight workers at a Nebraska Con Agra plant shared a $365 million dollar Powerball jackpot. The syndicate members agreed to a cash payout of $177,270,519.67 before taxes. In the US taxes can easily account for more than half of a jackpot.
One of the best features of a lottery syndicate is the ability of players to purchase multiple lottery tickets in a manner that is affordable to all members. Any group of people can form a lottery syndicate. Generally the responsibility of purchasing the lottery tickets is delegated to one or more members. Typically syndicate members contribute a set amount towards the purchase of lottery tickets each week. In most cases the person responsible for purchasing the tickets keeps them in a safe place and checks current lottery results. Members can opt to pick their own numbers or use the quick pick option available at lottery retailers.
Lottery syndicates do have their downside. The most obvious negative is the fact that all jackpots must be shared with other syndicate members. The larger the syndicate the lower the individual payout will be. Syndicate members should have some kind of legal written agreement to avoid any misunderstandings of possible legal battles. There are lottery syndicate contracts available online and every syndicate should have some sort of written contract. A contract should detail how the money will be split and should also address tax issues. Informal agreements may seem fine but many a friendship has been destroyed by arguments over money and if the syndicate is a group of workmates the dispute could easily enter the workplace and cause problems.
Thanks to the internet lottery syndicates now have the capability to play several lotteries online. Lottery syndicates can now purchase lottery tickets online avoiding the inconvenience of multiple trips to a lottery retailer. Online lottery players are no longer limited to playing state lotteries although in the US most lottery syndicates typically play Powerball or Mega Millions because of the multimillion dollar jackpots. Joining a lottery syndicate will increase the player’s chances of winning and although the payout will be smaller any payout is better than no payout at all!