The Margin: As Mega Millions jackpot hits $530 million, this Connecticut man warns that playing the lottery can...

The Mega Millions jackpot has now climbed to $530 million, making it one of the biggest prizes in the history of the multi-state lottery game. The next drawing is set for Tuesday.

But for Adam Osmond, any jackpot fervor only serves as a reminder of the dark side of lotteries.

Osmond, a Connecticut resident, gave up buying lottery tickets more than a decade ago after losing around $1 million on various games, be they scratch-offs or drawings. He told MarketWatch that his addiction cost him his business (he owned two gas stations), his home and nearly any semblance of a normal life.

When you talk about hitting bottom, I hit the worst of bottom, said Osmond, who sought treatment for his addiction. Today, he works as an accountant for Connecticuts housing department and runs marathons and other races in his free time.

Osmonds story may be an extreme one, but its not entirely unique. Experts say that as state lotteries have surged in popularity combined sales have grown from around $59 billion in 2010 to nearly $90 billion in 2020 so have the number of Americans who are addicted to playing the games.

The problem is only compounded when theres a big jackpot, experts add. Such events inevitably result in lots of news coverage and feed the idea that playing the lottery is a fun, safe pastime. And thats in spite of the fact the odds of winning the top Mega Millions prize is 1 in 302.5 million, meaning you have a greater chance of becoming a movie star or being killed by a bee sting.