|Posted by Gilbert Stack on January 11, 2018 at 5:10 AM|
On this day (January 11) in 1569, England held its first lottery. The lottery was a revenue raising scheme by the court of Elizabeth I. In 1566 they sold the lottery tickets with the promise that each ticket holder would win a prize and that the total value of the prizes would be equal to the amount of money raised by selling tickets. The value to the crown was that they got the use of the lottery money for three years interest free. Prizes took the form of such valuable items as silver plate.