The casting of lots for decisions and fates has a long record in human history (including several instances in the Bible). Modern lotteries, however, are relatively new, first introduced in Europe during the 1500s. These are government-sponsored games in which people pay for the chance to win a prize, ranging from money to goods and services to even a spot on a jury.

Lottery players as a group contribute billions to state governments that could otherwise go toward things like education, health care, and retirement savings. But they also have a high risk-to-reward ratio: A dollar or two spent on a ticket has no more than a slight chance of yielding a jackpot worth hundreds of millions or even billions of dollars.

It’s possible to improve your odds of winning by purchasing more tickets or playing a different game. But the key is to play a random sequence of numbers rather than picking ones that have sentimental value—others are more likely to pick those same numbers, and they’re unlikely to be your lucky numbers.

Many lotteries gain public approval by convincing people that they’re raising funds for a good cause. But research shows that this is largely a myth. The objective fiscal health of a state has no significant impact on whether or when it holds a lottery. And the data suggests that state lotteries disproportionately attract middle-income players and draw far fewer participants from low-income neighborhoods.