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The price for Mega Millions tickets has more than doubled and lottery officials claim it's part of an effort to offer bigger jackpots.
Mega Millions tickets rose from $2 to $5 prior to Tuesday (April 8) night's drawing and officials said the increased revenue will improve a player's odds of winning the jackpot from 1 in 303 million to 1 in 290 million, which will lead to more sales.
“People really want big jackpots,” said Joshua Johnston, the Washington state lottery director for the Mega Millions game, via the New York Post. “We expect to see a sales lift on this.”
Higher ticket prices would allow the jackpot to start at $50 million, rather than the $20 million it resets to after a jackpot hits during the last prior drawing, while the next jackpot would swell even larger if there isn't a big winner. Additionally, the minimum prize of $10 on a winning ticket will double given the rise in cost for a ticket, according to lottery officials.
Lottery players will reportedly have a 1 in 23 chance to win any prize, an improvement from the 1 in 24 odds prior to the price change, officials confirmed to the New York Post. Mega Millions has only previously changed its price one time since its launch in 2002.
Tuesday's Mega Millions drawing will offer an estimated $54 million jackpot ($25.7 million cash option). The Mega Millions jackpot reset after a single ticket sold in Illinois matched all six numbers during the estimated $344 million Mega Millions drawing on March 25, according to MegaMillions.com.
The Mega Millions jackpot has exceeded $1 billion seven times, which included the $1.6 billion drawing on August 8, 2023, which was a personal record and the third-highest jackpot in U.S. lottery history.