The price of a Mega Millions ticket will soon more than double — a move that lottery officials say will result in better odds.
Starting in April, it will cost $5 to play Mega Millions, compared to the current $2 per ticket.
The prize increase will be one of several changes to Mega Millions that officials say will result in better jackpot chances, more frequent giant prizes and even bigger payouts.
The hope for Mega Millions is that by increasing ticket revenues and revising the odds – now set at 1 in 302.6 million – to something less stratospheric, more people will win jackpots even if the prizes become extraordinarily high, which attracts more players. The goal is to increase revenue and provide more money to state lotteries, which in turn spend it on various government services.
The changes will be introduced at a time when fewer people are buying tickets and jackpots need to reach higher and higher numbers before sporadic players notice and choose to buy a ticket or two. While a $500 million jackpot once prompted lines outside convenience store doors, big billion-dollar prizes now often elicit more heated reactions.
Joshua Johnston, director of the Washington Lottery and senior director of the group that oversees Mega Millions, said research shows people feel comfortable spending at least $5 when buying scratch-off tickets or odds drawing games, such as Mega Millions. This is the second price increase since the game’s inception in 2002.
“You pay $5 for your Starbucks,” Johnston noted.
Lottery officials will announce more details about the changes in the coming months, he said in October.
Mega Millions and its lottery counterpart Powerball are sold in 45 states, as well as Washington, D.C. and the U.S. Virgin Islands. Powerball is also sold in Puerto Rico.
Powerball said it has no plans to raise prices.
