Mega Millions Ticket Prices to Double to $5 with Improved Winning Odds

Stock photo of lottery machine

Mega Millions Price Increase

People will have to pay a bit more to get a chance at winning the big bucks!

Mega Millions lottery officials announced on Monday, Oct. 7 that they will be doubling the price of their game to $5 a ticket in April — the second price adjustment lottery officials have made since it began.

The current odds to win a jackpot with the Mega Millions are set at 1 in 302.6 million, per the Associated Press. Lottery officials say the price increase will allow for “improved odds to win the jackpot,” “bigger jackpots more frequently,” “larger starting jackpots” and “faster growing jackpots.”

“We are creating a game that both our existing players and people new to Mega Millions will love and get excited about playing,” said Joshua Johnston, Lead Director of the Mega Millions Consortium in a press release.

“We expect more billion-dollar jackpots than ever before, meaning creating more billionaires and many more millionaires as the jackpots climb, plus this game will continue the important legacy of supporting great causes everywhere Mega Millions is played,” he added.

Lottery officials are hoping that the new odds of winning will attract people — who often buy in when there’s a greater prize on the line — to play the lottery despite the increased cost, per the AP.

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Since the last time the lottery hiked its prices from $1 to $2 in 2017, Mega Millions said more than 1,200 players have become millionaires. It also noted that there have been six billion-dollar jackpot winners since it first launched in 2002.

One of its latest winners includes a Texas resident who won the $800 million Mega Millions jackpot last month. The drawing was the largest Mega Millions jackpot since the March 26 drawing, when $1.13 billion – the game’s fifth largest jackpot prize – was won by an out-of-state player, the Texas Lottery said in a press release.

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Mega Millions tickets are sold in 45 states including Washington, D.C. and the U.S. Virgin Islands, according to the lottery. Money collected by the lottery is allocated to government services and other causes.

While the Mega Millions is upping its price, Powerball officials told AP that their price of $2 per play — in most states — is staying.

The Exciting Changes Coming to Mega Millions

Lottery players around the country are buzzing with anticipation over the new and improved Mega Millions game. With the promise of more billion-dollar jackpots than ever before, players have their eyes set on massive wins that could change their lives forever. The game’s organizers are thrilled about the prospect of creating more millionaires and billionaires while continuing to support charitable causes worldwide.

The revamped Mega Millions will feature a built-in multiplier on every play, ensuring that every non-jackpot win is automatically boosted by 2X, 3X, 4X, 5X, or even 10X, potentially leading to wins of up to $10 million for matching the five white balls. Additionally, the game will no longer offer breakeven prizes, guaranteeing that winners always take home more than the cost of their ticket.

Enhanced Winning Odds and Attractive Prizes

Lottery officials are optimistic that the new odds of winning, combined with the enticing prizes, will attract more players to participate in the Mega Millions game. Despite the increased cost, they believe that the prospect of larger prizes will draw in players seeking a shot at life-changing winnings.

Since the last price increase in 2017, Mega Millions has seen over 1,200 players become millionaires, with six lucky individuals winning billion-dollar jackpots since the game’s inception in 2002.

Recent Mega Millions Winners

One of the latest Mega Millions winners hails from Texas, having clinched the staggering $800 million jackpot in a recent draw. This win marked the largest Mega Millions jackpot since a $1.13 billion prize was claimed in March. The Texas Lottery confirmed the monumental win in a press release, highlighting the excitement surrounding the massive prize.

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Supporting Good Causes

Mega Millions tickets are available for purchase in 45 states, including Washington, D.C., and the U.S. Virgin Islands. Proceeds from ticket sales go towards funding government services and various charitable causes, making every play a contribution to the greater good.

Price Adjustments in the Lottery World

While Mega Millions is adjusting its ticket prices, Powerball officials have confirmed that their ticket price will remain at $2 per play in most states, providing players with a consistent and affordable option to try their luck at hitting the jackpot.

 

 

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