In a time of economic insecurity, when the odds of winning are long and the chances of getting a better job even longer, lottery players feel like it’s their last chance to pull themselves up out of poverty. So they buy tickets, in huge quantities and for big prizes. And they often play them over and over again, even if they know the odds are stacked against them.

There are many strategies for choosing lottery numbers, but a mathematically-minded player might want to consider the idea of “variance reduction.” This approach involves selecting numbers that fall within a range that includes 104 to 176. According to mathematician Stefan Mandel, who has won the lottery 14 times, this method is the best way to maximize your chances of winning.

While the practice of lotteries goes back centuries, modern public lotteries owe their origin to a Dutchman who launched the first state-owned company in 1826. Before this, lotteries were common in Europe, where towns raised money for a variety of purposes. In fact, the term “lottery” comes from the Dutch word for fate, and the earliest European lotteries were usually used to raise funds for the poor or for military needs.

Lottery promoters are careful to convey that their games are not rigged. But they also know that people play largely because they want to win. This is why they dangle the prize money on billboards and tinker with the prizes to make them appear more palatable.