My previous posting referred to the first English lottery being held on 11 January 1569, and Jilly asks in a comment if it was sold out, because the tickets, at 10 shillings each, were horrendously expensive.
Well I don’t know if it was sold out, a quick Google hasn’t provided an answer, but having researched a bit more I’m not sure if I would actually call this 1569 effort it a lottery at all! Here’s what Wikipedia says:
Although it is more than likely that the English first experimented with raffles and similar games of chance, the first recorded official lottery was chartered by Queen Elizabeth I, in the year 1566, and was drawn in 1569. This lottery was 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 won a prize, and the total value of the prizes equaled the money raised. Prizes were in the form of silver plate and other valuable commodities. The lottery was promoted by scrolls posted throughout the country showing sketches of the prizes.
Thus, the lottery money received was a loan to the government during the three years that the tickets (‘without any Blankes’) were sold. In later years, the government sold the lottery ticket rights to brokers, who in turn hired agents and runners to sell them. These brokers eventually became the modern day stockbrokers for various commercial ventures.Most people could not afford the entire cost of a lottery ticket, so the brokers would sell shares in a ticket; this resulted in tickets being issued with a notation such as “Sixteenth” or “Third Class.”
According to measuringworth.com 10 shillings in 1569 would now be worth around £105 if you pro rata using RPI or £1210 if based on average earnings.
Interestingly lottery-results-info.com claims that the first ever lottery with prize money was held in Florence, Italy, in 1530. But as there are (apparently) references to lottery-type activity in The Bible, we’ll probably never know.
But don’t things like this make history fun! Much better than all those Corn Laws, Poor Laws, treasons and bloody battles that were inflicted on us at school!
