Lotteries are games of chance in which numbers are drawn at random to determine winners. The proceeds from these games are often used to fund public projects. In some countries, a portion of the winnings are set aside for education systems. Others use their profits to support sports and other recreational activities. New Zealand, for example, has several state-owned lotteries that operate under government licence. These include the Lotto, Keno and Bullseye. Private business interests also run some national lottery operations.
In the United States, state lotteries are regulated by federal law. Private lotteries are legal in some states, but they face regulatory and operational hurdles. In addition, the industry is highly competitive with the rise of online lottery services. The biggest operator in the US, GTech Corporation, oversees about 70% of the worldwide online and instant lottery market, according to the company’s website. Other operators include the state-owned National Lottery of Japan and the government-sponsored Loterias y Apuestas del Estado in Spain.
Oregon Lottery Winner to Split $1.3 Billion
A Laotian immigrant living in Portland, Oregon, says he will take half of his Powerball prize and give the other to a friend. Forty-six-year-old Cheng Saephan says he and his wife, Duanpen, plan to invest the money. Saephan, who is a member of the Iu Mien ethnic group, spoke Monday at a news conference held by the Oregon Lottery.
The prize for the drawing that took place on Oct. 14 was reported as 1.3 billion dollars, but this total will be paid out over 30 years, after taxes. It is the fourth-largest sum in Powerball history. The winner reportedly will keep his identity secret for now, but will reveal it to the press when the details are finalized.
Lao Lottery Officials Rigging the System
Lottery officials in the communist country of Laos are rigging the system to avoid large pay-outs, sources in the capital Vientiane say. The national lottery is drawn three times each week. But the numbers appear to disappear from purchased tickets during the drawing, and some numbers that are deemed unlucky do not show up at all. For instance, the winning number in the Oct. 14 drawing, 09, did not appear on tickets sold throughout the day until just 10 minutes before the drawing, an RFA source in Vientiane told the station. This has led some buyers to boycott the lottery entirely, the source said.