Know the History, Prizes & Scams about the attracting Game, Lottery

March 20, 2020
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The Lottery such as “Thai Rath” lottery (หวยไทยรัฐ, which is the term in Thai) is a type of gambling where numbers are drawn randomly for the prize. Lotteries are banned in many countries, though some countries arrange for national and state lotteries. But most of them are closely regulated by governments; most common of these regulations are the first prohibition of sale to minors and vendors must be licensed to sell tickets.

In the 19thcentury, lotteries were banned in the US and most of the countries in Europe. But after World War 2, the government lifted the ban on lotteries. Because the earnings from the lottery winning are also tax-deductible as it is a casual source of income. So casinos started to pop up across Europe and the USA. 

History of Lottery

From China to the Roman Empire emperors organize lottery for amusement or financing major government projects like the Great Wall of China. The official recorded history of the lottery is keno slips from the Han dynasty in China. In medieval times, lotteries were sold with prize money in lower countries; this money was used for town fortification, and to help the poor. As of now most of the states organize state lottery and in others, the lottery is banned. Though, lottery organizers allow customers to pay online where the lottery is banned.

Scams and Frauds

Lotteries like any other type of gambling are susceptible to frauds and scams. Some of them are internet-based; like spam, congratulating a person for a lottery win and asks them to claim the prize in exchange for a certain amount of money as per the rules or risk forfeiture. And some organizers try to scam the customer of their winnings.

Payment of Prizes

Contrary to popular belief prize is not the same as the advertised amount. It can be given as a one-time payment or as a fixed amount annually chosen by the winner. If one-time payment is chosen it can be as low as 1/3 of the advertised amount after-tax deduction. Lottery annuities are often for a period of 20 to 30 years. Some organizers also offer a lifetime prize instead of a one-time payment. Others also give a balloon payment in the final year. There are also some countries where lottery winnings are not subjected to tax deduction like Germany, UK, and Italy, etc. 

So, you can try your luck by choosing the best one like the “Thai Rath” Lottery, which can give you good returns for your ticket.

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