Say It Isn’t So! Mega Millions Lottery Tickets Are Going Up in Price—Here’s What You Need to Know
When it comes to inflation, nothing is safe right now. First, the price of eggs shot through the roof. Then, orange juice followed suit. And now, it’s lottery tickets—specifically, Mega Millions lottery tickets. That’s right: Our favorite game offering us the chance to become millionaires is getting a mega price increase, and you’re likely going to be shocked by the new ticket prices. (We certainly were!)
Keep reading to find out just how much Mega Millions tickets will now run you, when this change will go into effect and whether this will ultimately be a good thing by boosting your chances of winning big.
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How much will Mega Millions lottery tickets cost?
Mega Millions lottery tickets are more than doubling in price. Currently, a single ticket costs $2, but it will soon be skyrocketing to a whopping $5. Yes, you read that right—$5 for a single ticket that gives you two chances to win.
This change marks the second time the price has gone up in Mega Millions’s 23-year history. But it’s the only time the price has been increased since the game’s current matrix was introduced in 2017, when the price went from $1 to $2 for your basic ticket.
Why are Mega Millions lottery tickets getting more expensive?
It likely all boils down to revenue, of course, but there are some benefits that will make you a little less angry about this price hike. For starters, those higher ticket prices will translate to bigger jackpots being up for grabs more often. Think about it like this: Higher ticket prices means jackpots are bigger to start with, and they’ll get even bigger very quickly. So if you win, you’ll win big—like, really big. Lotto officials estimate that the average jackpot will be more than $800 million—which is almost double the previous average of $450 million. And let’s talk about those starting jackpots while we’re at it: They’ll be more than double than what they used to be: $50 million, up from the previous $20 million. Mega, indeed!
And here’s some more good news: Every play will have a built-in multiplier that results in a bigger payout on non-jackpot wins. These multipliers can automatically increase your win by 2x, 3x, 4x, 5x or 10x, giving you the chance to win up to $10 million for matching all five white balls. You can also say goodbye to break-even wins; when you win, you’ll always win more than the price of your ticket.
When do the prices go up?
Mega Millions prices will be going up starting on April 8, and the last drawing with the $2 tickets will take place on April 4. That means you still have some time to buy tickets at their current price of $2 each—but not much!
Is it still worth it to play Mega Millions?
Oh, yeah. Mega Millions ticket prices are still worth it when you think about the millions—and sometimes billions—of dollars winners can take home. In fact, since the game first debuted in 2002, six people have won billion-dollar jackpots. And you have even better odds of becoming a millionaire: Since 2017, there have been more than 1,200 lottery winners who took home prizes in the millions. That’s 3 millionaires every week, on average.
And this new Mega Millions incarnation boasts even better odds of winning. How? It will be getting rid of one gold Mega Ball from the drawing, which reduces the pool from 25 to 24 … and increases your odds of winning the jackpot from 1 in 302.6 to 1 in 290.5 million. Your chance of winning any prize will also be better, from 1 in 24 to 1 in 23. That sounds worth it to us!
Which states offer Mega Millions?
Mega Millions is played nationally, and you can buy tickets in 45 states, Washington D.C., and the U.S. Virgin Islands. The winners are drawn every Tuesday and Friday at 11 p.m. EST. Good luck!
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Sources:
- Mega Millions: “The NEW Mega Millions”
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