The state of Nevada does not have any type of lottery that is state sponsored. The main reason that Nevada does not have a lottery is that Nevada gets revenue from the gambling in the state. Nevada has statewide legalized casino gambling, therefor does not need a state lottery to gain revenues.
In April 2012, gaming revenue in Nevada was over $855 million dollars. Of course this is not money that goes to the state, but with that much revenue the state certainly gets its cut. There are taxes on rooms, food, and rental cars. Plus with all the employees needed in the casinos, they need places to live and spend money as well. There is no state income tax in Nevada.
Nevada residents still want to play the lottery though and it is made easy when the major metropolitan areas in Nevada are all near a bordering state and residents can just cross the border to buy lottery tickets. Laughlin is right across the river from Arizona so many residents just take a 5 minute drive to buy Powerball and Mega Millions tickets. Residents of the Reno area can drive a short 30 miles to Truckee, CA to buy lottery tickets as well. The largest city is Las Vegas and it takes about an hour to get to a lottery retailer in Arizona so most people buy tickets for as many possible draws as they can to limit how often they have to drive. There are lots of lottery pools in Nevada so not every single person that wants to buy a lottery ticket needs to make the drive across state lines to buy tickets.
It is doubtful that Nevada will ever have a lottery because officials think that a state lottery will take away from local gambling revenue and there are many casinos that are not on the strip that do not cater to tourists, but onl cater to local residents and if residents spend their gambling budget on lottery tickets, then they will not be able to spend it at the local casinos where it would implact the local Nevada economy in a much greater way.