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A lottery is a form of gambling which involves the drawing of lots for a prize. Some governments outlaw it, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. At the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in many countries, including the U.S.A. and most of Europe. This remained so until after World War II. In the 1960s casinos and lotteries began to appear throughout the world as a means to raise revenue in addition to taxes. National Lottery building located on Paseo de la Reforma in Mexico City.Lotteries come in many formats. The prize can be a fixed amount of cash or goods. In this format there is risk to the organizer if insufficient tickets are sold. More commonly the prize fund will be a fixed percentage of the receipts. A popular form of this is the "50–50" draw where the organizers promise that the prize will be 50% of the revenue. Many recent lotteries allow purchasers to select the numbers on the lottery ticket resulting in the possibility of multiple winners. The purchase of lottery tickets from the perspective of classical economics, irrational. However, in addition to the chance of winning, the ticket may enable some purchasers to experience a thrill and to indulge in a fantasy of becoming wealthy. If the entertainment value (or other non-monetary value) obtained by playing is high enough for a given individual, then the purchase of a lottery ticket could represent a gain in overall utility. In such a case, the monetary loss would be outweighed by the non-monetary gain, thus making the purchase a rational decision for that individual. From Wikipedia under the
GNU Free Documentation License Is there any validity to an international lottery from a company called lottery dynamics? Q. I've received a prize notification stating that I received $66,000 from an international lottery held by this company. They said that they want to send $2,300 from the prize money here and they want me to cash it and send it back for the processing fee. The company is called Lottery Dynamics. I've looked it up and come up with a company using the exact same logo out of Texas, but found no information about the lottery on their website. The address on the notification is in Winnipeg, Canada. Any information or opinions would be appreciated. Thank you. Asked by pat s - Sun Jul 30 21:11:14 2006 - - 7 Answers - 1 Comments A. Its fake , a scam. Answered by harley01xlc - Sun Jul 30 21:14:43 2006 How much would I have to spend on the lottery to have a guaranteed return? Q. How many tickets would I have to buy to get a guaranteed return playing the lottery? Not necessarily winning the jackpot, but say if I brought 200 of tickets, how much would I win back? Asked by thedeplorableword - Wed Jan 23 07:21:22 2008 - - 13 Answers - 0 Comments A. Each number sequence, in the region of 14,000,000+. And you would have to have a worthwhile jackpot - which hopefully wouldn't be shared!.. Answered by bugaboo - Wed Jan 23 07:26:16 2008 How does winning state lottery affect my income tax?
Q. I am an 18 year old student. My aunt bought a winning ticked for the florida Play-4 lottery, $800.00. She asked me to use my information to cash in the ticket. When I did, i received a W2-G form, and it said total income $800.00 with no taxes taken out of it. How will this affect when I file for my regular income tax next month? Thank you in advance. Asked by anonymous - Fri Dec 12 13:35:45 2008 - - 10 Answers - 0 Comments A. So...your aunt did some tax evasion by sullying your good name. If you are a student with $0 earned income, you won't owe tax as the first $900 isn't taxed. if you are a student with, say, $2000 of earned income, you will owe $50 since your standard deduction will only cover the first $300 of it. Mention this to your parents and ask them how they feel about your Aunt's borrowing your name and SSN. Answered by the tax lady - Fri Dec 12 13:46:26 2008 From Yahoo Answer Search: "Lottery" Rep. Deal Cosponsors Visa Lottery Bill, Earning 5-for-5 Award
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