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While Mega Millions and Powerball jackpots have grown in recent years, America's lottery system goes back a long time. Lotteries in colonial times helped finance some of America's roads, bridges, and schools like Harvard and Yale. Today, state-sponsored lotteries contribute millions state budgets, but some critics question how effective they actually are. • In October, an anonymous woman in South Carolina won the $1.6 billion Mega Millions jackpot. Jackpots have been on the rise since the two major lottery organizations, Mega Millions and Powerball, struck a deal to cross-sell tickets in each others' member states in 2010. • » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC • » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision • » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic • About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. • Connect with CNBC News Online • Get the latest news: https://www.cnbc.com/ • Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC • Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC • Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC • Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC • #CNBC • #MegaMillions • #Powerball • How Mega Millions And Powerball Jackpots Grew So Large
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