The first recorded lottery was held in China by the Hun Dynasty, and is believed to have helped fund the Great Wall. To this day, governments use lotteries to pay for programs that would otherwise be under funded.
Lottery revenues are often used to pay for educational programs, local infrastructure, and to keep taxes low. As a form of gambling, lotteries are always highly regulated by their respective governments, and are often run by a government.
Three private companies, however, run the EuroMillions lottery. Part of the revenue goes to the respective governments of participating countries, some goes to the retailers who sell the tickets, half goes to winners as jackpots, and some goes to “Good Causes” in the form of grants.
The companies that operate the lottery are non-profit, and take just a small percentage, and then some goes to operating costs (the EuroMillions Results web site gives information and links to find a breakdown of where the profits go).
The lottery originally started in the United Kingdom, France, and Spain, but before long, six more countries had joined, including Ireland, Portugal, Austria, Switzerland, Belgium, and Luxembourg.
Drawings are held in Paris on Friday nights. Ticket holders can check the numbers at the EuroMillions web site. They can also check for past winning numbers.
Unlike lotteries in some other countries, winners of the EuroMillions pay no taxes on their winnings, and the payment is made in one lump sum rather than annuity payments made over a lengthy period of time.
Winners of some lotteries lose half of their winnings to taxes if they elect to receive the jackpot as a lump sum. By comparison, it’s no wonder then EuroMilliions lottery is so popular.
For tips on picking winning numbers, go to the EuroMillions Results web site and sign up for their newsletter.