How to Manage Your Lottery Winnings


The lottery is a form of gambling that involves drawing numbers in order to win a prize. Typically, the prize money is cash or goods. Lottery winners must know how to properly manage their winnings. Some of the things they should do are to invest their winnings in assets that generate a higher return, such as stocks. They also should take a lump sum payout rather than annuity payments, which can make it easier to control the money they receive.

People who play the lottery often believe they can improve their lives by hitting the jackpot. This is a covetous attitude that God forbids, as He says, “You shall not covet your neighbor’s house, his wife, his male or female servant, his ox or donkey, or anything that belongs to him” (Exodus 20:17). The Bible shows that true wealth comes from hard work and perseverance, not from trying to buy it with the money that someone else has earned.

The first European lotteries in the modern sense of the word appeared in 15th-century Burgundy and Flanders, when towns raised money to fortify defenses or help the poor. Francis I of France introduced them in his kingdom to increase public revenue, but they remained popular only until the 17th century. Privately organized lotteries became common in colonial America, where they helped build roads, libraries, churches, colleges, canals and bridges. In fact, the Continental Congress sanctioned a number of lotteries to raise funds for the Revolutionary War.

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