Most of the flood irrigation (open channel flow) in the State of Montana were constructed/developed around 100 years ago. Pivot irrigation is becoming more and more. There is a push for sprinkler irrigation (wheel lines, pivots, etc.) because they conserve water. Pivot sprinklers put more water on the plant and maybe some shallow water into the ground/soil. The cost to put in a practical sprinkler irrigation system can vary. The upfront cost is more expensive, but long term and the ease of irrigating (less maintenance) make it convenient (farmer/rancher can do a lot more other stuff than run around flood irrigating or they can hire less help) assuming nothing fails. Kind of like your yard sprinkler system ... set the time and the duration and let it run (as long as there is water). The source of the water can vary, as well. It could be supplied from a ditch, canal, river/stream or a well. The cost varies, usually several thousands of dollars.
IMO, pivot sprinklers aim at water conservation can be problematic. Where I am coming from is with flood irrigation, water seeps into the plants root system and more importantly the ground. This soaking of the ground often recharges the ground water table or the water flow through the ground back to the river or stream. This all takes time. With conserving water (which can be and is "good") the landowner only takes whatever water and the remaining water stays in the river only to flow right on by downstream, out of state, and into the ocean. There are a lot of benefits to both practices, but a lot of folks think conservation is great, but the flood irrigation method certainly has its benefits. If either method is done right, there are a lot of benefits depending on the practice.