If you play Mega Millions on a regular basis, get ready to pay more per ticket next month.
The cost for a single ticket will rise from $2 to $5, which is only the second price increase in the history of the lottery; the last one occurred in 2017, when it went from $1 to $2.
Why the Price Hike?
The Mega Millions consortium describes the changes as an attempt to boost jackpots, improve odds of winning, and introduce a built-in multiplier for all non-jackpot wins. According to Joshua Johnston, lead director of the Mega Millions consortium, the new format will create more billion-dollar jackpots than ever before and increase overall prize amounts.
What’s Changing?
Here’s a breakdown of what Mega Millions is introducing with the price hike:
- Higher chances of winning the jackpot
- Bigger and more frequent jackpots
- Larger starting jackpots
- Faster-growing jackpots
- Multiplier is built-in for all non-jackpot wins, automatically doubling or multiplying prizes up to 10X.
- No more break-even prizes, which means every win will be worth more than the ticket’s cost.
In essence, the changes make the game more exciting with bigger prizes, but to enter the games now costs players more money upfront.
Is It Worth It?
Yes, the new $5 ticket price is going to cost you more to play, but Mega Millions says higher starting jackpots and multipliers will result in more rewarding play. Critics of the lottery counter, though, that increasing the price of a ticket disproportionately affects low-income players, who comprise a significant portion of the lottery-playing demographic.
How to Play Mega Millions
Playing Mega Millions remains the same:
- Choose six numbers: five white balls, numbered 1 to 70, and a gold Mega Ball, numbered 1 to 25.
- If you would rather have the numbers randomly generated, choose Quick Pick.
- For an additional $1, players can add Megaplier to increase non-jackpot prizes by 2X, 3X, 4X, or 5X.
Where to Buy Tickets
Tickets can be purchased at:
- Gas stations, convenience stores, grocery stores
- Some airports
- Online in select states via Jackpocket, the official digital lottery courier in Arizona, Arkansas, Colorado, Idaho, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Puerto Rico, Washington, D.C., and West Virginia.
What’s Next?
Beginning next month, Mega Millions tickets will cost more and players should expect larger jackpots and bigger non-jackpot payouts.
It remains to be seen, however, if the changes will indeed create more winners or just cost players more. This is a developing story, please stay tuned for updates.
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