The Mega Millions lottery will be undergoing a significant price increase in April of next year, with ticket prices set to rise by $3 to $5. This 150% hike will be the second ever for the lottery, and will coincide with the introduction of a "new and improved" version of Mega Millions. The goal of this overhaul is to enable the size of jackpots to increase more rapidly and result in larger starting jackpots for players.
In addition to the price increase, players can also expect improved odds of winning the jackpot compared to the current matrix. The new Mega Millions game will feature a built-in multiplier on every play, automatically increasing non-jackpot wins by 2X, 3X, 4X, 5X, or 10X. The lottery will also eliminate breakeven prizes.
This redesign follows a major revamp of the lottery game in 2017, which also involved a price increase that brought ticket prices to $2. Prior to that, tickets had been priced at $1.
Mega Millions Consortium Lead Director Joshua Johnston stated that the changes are aimed at creating a game that will appeal to both existing players and newcomers. The lottery expects to see more billion-dollar jackpots than ever before, creating more billionaires and millionaires as jackpots climb. Additionally, the game will continue to support important causes wherever Mega Millions is played.
In recent years, Mega Millions has seen several billion-dollar jackpots, with the largest jackpot in the lottery's history reaching $1.602 billion. The most recent billion-dollar jackpot winner was a New Jersey ticket holder who won $1.128 billion in late March. Powerball, another popular lottery, has also produced its share of super-sized jackpots, including a $2.04 billion jackpot in 2022.