Bank of Australia Lottery

Lottery organised in 1848 to dispose of the assets of the Bank of Australia that had failed in 1843. The lottery was drawn over three days in January 1849 and the prizes were properties that had been mortgaged to the bank.

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Australia’s First Lottery

CC BY-SA 2.0
,
2017

Australia's first lottery, held in Sydney in 1849, was surrounded by controversy and was probably illegal. It was immensely popular however and the government turned a blind eye as it seemed the only way of averting the consequences of a financial disaster.