The Virginia state Lottery is both the oldest and one of the youngest in the country. America's first lottery was "The Great Virginia Lottery," held in 1612 by the Virginia Company to help fund the Jamestown Settlement; it raised ₤29,000 for the Virginia Company and helped establish some of the nation's earliest and most prestigious universities and was used to build churches and libraries.

However, gambling was outlawed in Virginia in 1849 and it wasn’t until 1987 when Virginia voters approved a government-run lottery that the state once again had a lottery. The Virginia Lottery is an independent agency of the Commonwealth of Virginia, all profits from Virginia Lottery ticket sales go to K-12 public education in the Commonwealth.

Daily draw games include Pick 3, Pick 4, and Cash 5; each of which is drawn twice daily. The Virginia Lottery also offers numerous scratchcards. It is one of 44 lotteries which sell Mega Millions tickets, and one of 45 offering Powerball.