Buying a lottery ticket offers a low-risk investment in exchange for the opportunity to win a large sum of money. Whether this investment is worthwhile depends on many personal factors, but if you do play the lottery, you should make sure to set aside some of your winnings to invest in future purchases.

While the casting of lots to make decisions and determine fates has a long record in human history—including several instances in the Bible—the modern lottery is relatively recent, having been first introduced in the West by Augustus Caesar for municipal repairs in Rome. The earliest recorded public lottery to distribute prizes of cash, however, was held in 1466 in Bruges, Belgium.

Lotteries have broad popular support and generate billions in revenue for state governments—though they are often criticized as a “painless form of taxation.” The sexy, glamourous images used to promote these games entice people to spend money on tickets, even though the odds are slim to none. But these marketing campaigns may also exacerbate existing social inequalities by disproportionately targeting lower-income individuals who are more likely to spend their money on the tickets, and can end up losing their winnings through poor financial decision making or exploitation.

In addition, by presenting the purchase of a lottery ticket as a minimal investment with the potential for massive returns, these advertising campaigns can reduce perceived risk and therefore increase the likelihood that lottery players will buy a ticket. This can potentially lead to a vicious cycle, whereby state governments rely on lottery revenues to meet budget requirements, and push for further growth in gambling to avoid the need for higher taxes.