Advice on running a lottery

I am just flicking through a book on the history of probability and have come across reference to some writing on lotteries in A Treatise of Taxes & Contributions by William Petty (1662) which I thought I would share here:

Now in the way of Lottery men do also tax themselves in the general, though out of hopes of Advantage in particular: A Lottery therefore is properly a Tax upon unfortunate self-conceited fools; men that have good opinion of their own luckiness, or that have believed some Fortune-teller or Astrologer, who had promised them great success about the time and place of the Lottery, lying Southwest perhaps from the place where the destiny was read.
Now because the world abounds with this kinde of fools, it is not fit that every man that will may cheat every man that would be cheated; but it is rather ordained, that the Sovereign should have the Guardianship of these fools, or that some Favourite should beg the Sovereigns right of taking advantage of such mens folly, even as in the case of Lunaticks and Idiots.
Wherefore a Lottery is not tollerated without authority, assigning the proportion in which the people shall pay for their errours, and taking care that they be not so much and so often couzened, as they themselves would be.
This way of Lottery is used but for small Leavies, and rather upon privato-publick accompts, (then for maintaining Armies or Equipping Fleets,) such as are Aque-Ducts, Bridges, and perhaps Highwayes, etc. Wherefore we shall say no more of it upon this occasion.