Starting next April, Mega Millions tickets will cost $5 instead of $2, according to lottery officials per the NY Post. With this price hike, players will have better odds of winning larger jackpots as part of a major update to the lottery set for April 2025, reports note.
Lottery officials believe that the promise of bigger jackpots will attract more players, even with the higher ticket prices. At this time, the odds of winning the Mega Millions jackpot are about 1 in 302.6 million. In the game’s history, six players have won jackpots over $1 billion, and around 1,200 players have become millionaires. However, fewer people are buying tickets regularly unless there’s a huge jackpot on the line.
“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,”
said Joshua Johnston, director of the Washington Lottery and lead director of the group that oversees Mega Millions.
The extra money from ticket sales will help state lotteries, which use the funds for various government services. This $3 increase is only the second time Mega Millions has raised ticket prices — which are available in 45 states, plus Washington, DC, and the US Virgin Islands. Research shows that many Americans are fine with spending $5 on scratch-offs or lottery tickets, which is similar to or even less than the cost of a coffee from Starbucks, according to Johnston.
One reason for these updates is to make Mega Millions more appealing to players compared to their competitor, Powerball, Johnston mentioned. More details about the changes will be shared in the coming months.
#Clique, what are your thoughts?