It is estimated that this week’s anticipated $1.6 billion jackpot for the Mega Millions Lottery will be the largest prize in US history.

For Cooper native and Iowa Lottery CEO Terry Rich, he says this is uncharted territory, with the estimated Mega Millions jackpot to reach over $1 billion, while the jackpot for Powerball is projected to be the third largest ever. He points out that from the $2 lottery ticket, $1 goes directly to the jackpot and the other $1 goes to things like their charitable causes.

“Profit-wise about 25-percent of the monies go back to the state for the veterans trust fund, and for other good causes like police, fire (and) property taxes. It’s a good deal for Iowa. But we have the opportunity then to be able to offer this to all of our players.”

The Powerball estimated jackpot is $620 million. Rich adds that he’s given away lots of jackpot prizes, but none that huge.

“I’ve given away a $240 million check in my tenure and it’s a pretty cool feeling. I would love to give it away to someone in Greene County and around the Jefferson area for sure.”

Rich notes that last Friday night, there were over 80,000 tickets that won prize money from Iowa, but not jackpot winners. The Mega Millions drawing happens tonight and Powerball is tomorrow.