The Virginia Lottery is a state-run lottery that operates independently. It was established in 1987 when Virginians approved a state lottery in a statewide referendum. On September 20, 1988, the first ticket was sold. As required by Virginia's constitution, all proceeds from lottery ticket sales go to K-12 public education. The Lottery's revenues in Fiscal Year 2021 reached more than $765 million, accounting for around 10% of Virginia's school funding.

Pick 3 and Pick 4, which are drawn twice a day, and Cash 5, which is drawn once a day, are among the daily draw games. The Virginia Lottery also has a number of scratchers available. It's one of 46 lotteries that sell Mega Millions tickets, and one of 47 that offer Powerball.