The first recorded lotteries with cash prizes were held in the coastal Low Countries of north western Europe in the 15th century. Now WE know em

Lottery ticket issued by Continental Congress in 1776 to finance the American Revolutionary War.

Lottery ticket issued by Continental Congress in 1776 to finance the American Revolutionary War.

The first recorded lottery to offer tickets for sale with prizes in the form of money were held in the coastal Low Countries of north western Europe in the 15th century.

Towns would hold public lotteries to raise money for town fortifications, and to help the poor.

A record dated May 9, 1445 at Sluis in the south-western part of the Netherlands actually refers to raising funds to build walls and town fortifications, with a lottery of 4,304 tickets and total prize money of 1,737 Dutch guilders (worth about $170,000 in 2014 US dollars).

By the 17th century it was quite usual in the Netherlands to organize lotteries to collect money for the poor or in order to raise funds for all kinds of public usages.

These lotteries proved very popular and were hailed as a painless form of taxation.

Today, the Dutch state-owned Staatsloterij is the oldest running lottery.

Now WE know em

Advertisements

Please Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s