You have to be in it to win it, but the cost of a chance will soon increase.
Mega Millions tickets will cost $5 per ticket starting in April, up from $2, according to lottery officials’ announcement on Monday. The increased cost will also result in larger cash rewards.
Mega Millions announced that the price hike will be accompanied by increased chances of winning larger prizes as part of a “mega overhaul” of the lottery that will begin in April 2025.
Director of the Washington Lottery and head of the team in charge of Mega Millions, Joshua Johnston, remarked, “Spending five bucks to become a millionaire or billionaire, that’s pretty good.”
In the history of the game, six Mega Millions players have won jackpots above $1 billion, and 1,200 players have made millionaires out of their winnings.
Officials from the lottery anticipate that even with rising ticket costs, more people will play because of the bigger payouts and increased odds of winning.
Currently, there is a 1 in 302.6 million chance of winning the Mega Millions jackpot. Regular lottery ticket purchases have decreased unless there is a huge jackpot up for grabs.
“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,” Johnston stated.
The state lotteries, which use the money they get for various government services, would see a boost in cash flow as a result of the increased revenue from the drawings.
Since the lottery’s inception more than 20 years ago in 2002, the $3 hike is only the second price rise for Mega Millions tickets, which are available for purchase in 45 states as well as Washington, DC, and the US Virgin Islands.
According to research, the majority of Americans are comfortable parting with a Lincoln for lottery or scratch-off tickets, which is roughly equivalent to or less than their Starbucks cappuccino, according to Johnston.
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The lottery rules will be modified for the first time in April. The plans will also offer greater starting and faster-growing jackpots and a built-in multiplier on every game, instantly raising any non-jackpot prize for matching the five white balls, Mega Millions officials said.
According to Johnston, one of the main motivations for the changes was to make Mega Millions more alluring to potential participants than its rival, Powerball. In the next months, Mega Millions representatives should provide additional information about the modifications.
