A game in which tokens are sold and the winners are chosen by drawing lots: sometimes sponsored by governments or private promoters as a way of raising funds. Also: an undertaking regarded as having an outcome dependent on fate, as in “Life’s a lottery.” The word is probably from the Middle Dutch loterie, a calque of the French word loterie; its first recorded use was in the Low Countries in the 15th century.

Lotteries make a lot of money by charging for the privilege of buying tickets with the hope of winning a prize, whether it’s a free trip or big bucks. Some people play the lottery regularly, but others think of it more as an entertainment or a form of socializing with friends. They may even see it as a meritocratic pursuit, a sort of self-improvement that helps them become more successful.

The biggest draw is that super-sized jackpots attract attention and generate interest in a lottery, making it more likely that people will purchase a ticket. But the amount of money that people win is usually less than their total investment. And the odds of winning are so bad that even a substantial windfall would not offset the negative expected value.

The best way to play a lottery is to have a plan and stick with it. If you have a strategy and allocate a budget for it, you can avoid getting sucked in by the allure of the jackpot. Then you can use math to understand the odds and make wise decisions. And you can avoid the superstitions that often accompany playing a lottery, such as believing that you should only buy a number that ends in the same digit as your age.