The Mega Millions jackpot is up for grabs on Tuesday, April 8, with $54 million and a cash option of $25.7 million on the line for lottery participants.
The drawing is also the first since Mega Millions rolled out major changes to the game, including more than doubling the ticket price, bigger cash prizes, and slightly better odds for players.
According to a statement, lottery executives say changes in the Mega Millions format were long overdue but would offer big benefits to players.
“Beyond big jackpots, players told us they want bigger non-jackpot prizes, and that’s exactly what this new game delivers,” said Joshua Johnston, lead director of the Olympia, Wash.-based Mega Millions Consortium. “Players who had won $2 in the old game will now take home $10, $15, $20, $25 or $50 under this game. Those who had won $500 under the old rules will now take home $1,000, $1,500, $2,000, $2,500 or $5,000 in this new game. Non-jackpot prizes at every level are going up by 2X to 10X.”
Here’s what’s changing with Mega Millions, including the biggest ticket price hike in the game’s history.
1. Double the Price to Play
Mega Millions is rolling out a ticket price hike from $2 to $5. The last time the consortium raised the game’s ticket price was in 2017 when the lottery ticket cost jumped from $1 to $2.
2. Better Odds
Mega Millions announced that the overall odds to cash in on any prize rise from 1 in 23 to 1 in 24, as the game operator said it’s removing one Mega Ball from each drawing.
Total jackpot adds will moderately improve from 1 in 302 million to about 1 in 290 million, which is due to the removal of a single Golden Ball. Under the new changes, each Mega Millions contest will include 24 Golden Balls, down from 25 prior to the new changes.
3. Bigger Payouts
Mega Millions also announced a new lottery game “reset” minimum of $50 million, which will be the “starter” payout once an old drawing produces a winner and a new drawing date starts. That figure exceeds the $20 million reset minimum under the old rules.
Additionally, jackpot dollar amounts will accrue faster under the new formula Mega Millions uses for payouts. According to Mega Millions, “the average jackpot win in the new game will be more than $800 million vs. approximately $450 million in the current game.”
That figure alone could spell temptation for any lottery participant.
“It probably won’t be long before there’s a new American record for the largest jackpot, which is currently $2.04 billion, from a Powerball drawing in November of 2022,” noted Jeff Edelstein, senior analyst from LotteryGeeks.com, via email
What it All Means to Lottery Players
Lottery experts say the moves should resonate with players, with one exception.
“The chance of winning the jackpot improves, which is a positive for players,” said Alexander Korsager, chief gambling officer at Casino.org, by email to NTD.
Going from a 1 in 302 million to a 1 in 290 million chance to win might not seem like much, but it’s still a meaningful leap for lottery participants. “Larger starting jackpots and bigger winnings can add a new level of excitement,” Korsager said. “But it’s better for the winner, not necessarily for the players.”
Yet the high ticket price may force less frequent and more budget-conscious lottery players away.
“Lottery players would likely choose a more affordable ticket price, smaller jackpots, and a higher quantity of prizes,” Korsager said. “For example, one hundred million dollar jackpots for $1 a ticket would work, rather than $5 a ticket for one single colossal prize. Also, the ticket price is doubling, and with the increasing cost of living, it’s disappointing to see a recreational pastime also become more expensive. That’s never good news for players.”
Adding more prize money should also help Mega Millions from a competitive standpoint.
“Mega Millions is moving to step out of Powerball’s shadow by differentiating with a new format aimed at delivering more of what players want,” said Jared James, founder of LottoEdge.com, by email. “Gone are the days when a $400 million jackpot turned heads.”
