Washington Lottery Director and Lead Director of the Mega Millions Lottery Group Joshua Johnston has confirmed that the cost of a Mega Millions jackpot dream ticket will increase by 150%.
According to the announcement, the ticket price will jump from $2 per ticket to $5. However, lottery officials also noted that the price increase is one of many changes being implemented all of which will result in improved jackpot odds, potentially larger prizes, and bigger payouts.
Johnston was adamant that the rise in cost was both justified and something that customers would accept:
“Spending 5 bucks to become a millionaire or billionaire, that’s pretty good. You pay 5 bucks for your Starbucks.”
Johnston noted that projected declines in interest rates were not taken into account when planning the upcoming changes.
Johnston explained that the primary motivation was to set Mega Millions apart from Powerball and appeal to customers. He also noted that this is only the second price increase since Mega Millions was first launched in 2002.
Mega Millions Changes
Mega Millions will also adjust its odds, lowering them from the 1 in 302.6 million they currently sit at. No official data on what the new odds will be has been released as of yet. The plan is that lower odds will mean more jackpot winners which will boost revenues as it encourages more tickets sales. This will in turn direct more money to state lotteries and governments who can then spend the additional revenues on good causes and essential services.
The upcoming changes include:
- Better odds to win the jackpot
- More frequent big jackpots
- Larger starting jackpots
- Faster growing jackpots
- A built-in multiplier on every play
- No breakeven prizes
The built-in multiplier will improve every non-jackpot win by 2X, 3X, 4X, 5X or 10X. This goes up $10 million for matching five white balls.
The Mega Millions and Powerball US lotteries are currently available in 45 states, Washington, D.C., and the U.S. Virgin Islands. Powerball is also offered in Puerto Rico.
Following the announcement, Powerball officials confirmed that there are no plans to increase the game’s current $2 price point or to adjust the odds for draws.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
Starting on October 28, 2017, Mega Millions ticket prices are set to increase by a whopping 150%. This change comes as part of a series of updates to the popular lottery game in an effort to increase the size of the jackpots and improve overall player experience.
Currently, Mega Millions tickets cost $1 per play, but with the upcoming changes, the price will jump to $2 per play. While this may seem like a significant increase, lottery officials assure players that the higher ticket price will lead to larger jackpots and more opportunities to win big.
One of the main reasons for the price increase is to keep up with other lottery games that already have higher ticket prices. By raising the cost of tickets, Mega Millions hopes to compete with other lotteries and offer players even bigger prizes.
In addition to the ticket price increase, Mega Millions will also be making changes to the starting jackpot amount, the odds of winning, and the overall game structure. These changes are all aimed at creating a more exciting and rewarding experience for players.
Despite the higher ticket price, many players are excited about the upcoming changes and are looking forward to the larger jackpots and increased chances of winning. With the new ticket price set to take effect soon, now is the perfect time to try your luck and see if you can be the next big Mega Millions winner.
