When you buy a lottery ticket, you have a tiny sliver of hope that you’ll win. It’s an exercise in futility, but one that’s hard to give up on. It’s also a reminder of how much people are willing to spend on something that doesn’t even pay out all that often.

Lotteries are a classic case of public policy being made piecemeal, with little or no overall vision to guide it. When a state sets up a lottery, its officials are usually inheriting policies and an industry that is already in motion, and the issues that emerge from that evolution (such as compulsive gambling and regressive effects on lower-income communities) cannot be dealt with by the original establishment of the lottery itself.

Historically, state governments have promoted lotteries as sources of “painless” revenue: taxpayers who participate in the lottery are voluntarily spending their money on a product that has no direct relationship to government expenditures. This argument has become especially potent in times of fiscal stress, when voters may be reluctant to support tax increases or cuts in other programs.

The idea of the lottery as a way to make decisions and determine fates by drawing lots has a long history, beginning with ancient religious practices. Modern-day lotteries take many forms, from keno to commercial promotions in which property is given away by chance. But they all share a common feature: they require payment of some consideration for the chance to win.