What type of game does the term "Lottery" refer to?

The term "Lottery" specifically refers to a game of chance that involves the potential for monetary stakes. In a lottery, participants purchase tickets or entries for a chance to win prizes, which are typically funded by the sales of these tickets. The outcome is determined by a random drawing of tickets or numbers, meaning that the players have no control over the results—a defining characteristic of games of chance.

This context highlights that lotteries are fundamentally different from games characterized by strategy and skill, as those require players to use knowledge or tactics to increase their chances of winning. Likewise, fixed-odds betting contests and skill-based competitions also demand different types of engagement and skill levels that are not applicable to traditional lottery systems. In essence, the lottery's reliance on randomness and luck is what categorizes it firmly as a game of chance involving monetary stakes.