Lawmakers in the state of Iowa are considering expanding the state’s casino gambling options. Before that occurs, however, there is another form of betting that started in the state. The Mega Millions lottery has arrived.
Mega Millions is a lottery game that is offered across many different states. The drawing is linked, meaning that in one draw, people from different states can win the jackpot. Iowa already has the Powerball Lottery.
“This is just another way for Iowa to increase their revenue from gambling,” said Gaming Analyst Steve Schwartz, “This, combined with possible casino expansion, could bring in millions of dollars to help with the state budget.”
The odds of winning the Mega Millions lottery may be small at one in 175 million, but that will not stop gamblers from taking their chances with a jackpot that sometimes reaches $100 million. Iowa officials estimate an annual increase of eight to ten percent over the Powerball lottery.
Others, however, believe that the addition of Mega Millions will hurt existing lottery sales. Critics of the Mega Millions expansion believe that people in Iowa only have a set amount to gamble on the lottery, and that Mega Million lottery ticket sales will take away from other games.
In order to win the jackpot on Mega Millions, a player must correctly pick all six numbers that are drawn. If they do not win the top prize, players may still win other prizes ranging from $2 to $250,000.