Queen Elizabeth had chartered the first recorded…
1569 CE
Queen Elizabeth had chartered the first recorded official lottery in the year 1566.
It is drawn in 1569, although the English probably first experimented with raffles and similar games of chance.
This lottery is designed to raise money for the "reparation of the havens and strength of the Realme, and towardes such other publique good workes".
Each ticket holder wins a prize, and the total value of the prizes equals the money raised.
Prizes are in the form of silver plate and other valuable commodities.
The lottery is promoted by scrolls posted throughout the country showing sketches of the prizes.
Thus, the lottery money received is an interest free loan to the government during the three years that the tickets ('without any Blankes') are sold.
The government in later years will sell the lottery ticket rights to brokers, who in turn will hire agents and runners to sell them.
These brokers will eventually become the modern day stockbrokers for various commercial ventures.
As most people cannot afford the entire cost of a lottery ticket, so the brokers will sell shares in a ticket; this results in tickets being issued with a notation such as "Sixteenth" or "Third Class".
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