The History of Lotto

Lotteries have been in existence since the Middle Ages. During this period, various Low Countries towns held public lotteries to raise money for fortifications or the poor. In fact, a record from 9 May 1445 in the town of L’Ecluse mentions a public lottery to raise funds for walls and fortifications. The prize money then was seventeen hundred florins, roughly equivalent to $170,000 in 2014.