The lottery is one of the most popular forms of gambling in America. People spend more than $100 billion on tickets each year and state governments promote them as ways to raise revenue. It’s hard to argue with the numbers, but how meaningful that revenue really is and whether it’s worth it for people to lose so much of their own money are a matter of debate.

The modern era of state lotteries began in 1964 with New Hampshire’s launch, and the idea quickly spread. Now, 37 states and the District of Columbia have lotteries. They are largely state-run, and they are widely viewed as a way to fund social services without raising taxes.

Most of the states that introduced lotteries were in the Northeast, and their lotteries grew at times of economic stress because they could be marketed as a way to provide needed revenue without the risk of higher taxes on working-class families. They also grew in popularity during a period of widespread materialism that posited that anyone could get rich with enough effort or luck.

But despite the high stakes, most people who play lotteries understand that they’re essentially gambling. They’re betting on numbers that have a much lower probability of winning than other numbers. They may buy more tickets to increase their chances or play numbers that have sentimental value, like those associated with birthdays. And they know that if they do win, they’ll need to pay off debts, put money in savings and investments, diversify their portfolios, and assemble a crack team of helpers.