Washington Lottery Director and Lead Director of the Mega Millions Lottery Group Joshua Johnston has confirmed that the cost of a Mega Millions jackpot dream ticket will increase by 150%.
According to the announcement, the ticket price will jump from $2 per ticket to $5. However, lottery officials also noted that the price increase is one of many changes being implemented all of which will result in improved jackpot odds, potentially larger prizes, and bigger payouts.
Johnston was adamant that the rise in cost was both justified and something that customers would accept:
“Spending 5 bucks to become a millionaire or billionaire, that’s pretty good. You pay 5 bucks for your Starbucks.”
Johnston noted that projected declines in interest rates were not taken into account when planning the upcoming changes.
Johnston explained that the primary motivation was to set Mega Millions apart from Powerball and appeal to customers. He also noted that this is only the second price increase since Mega Millions was first launched in 2002.
Mega Millions Changes
Mega Millions will also adjust its odds, lowering them from the 1 in 302.6 million they currently sit at. No official data on what the new odds will be has been released as of yet. The plan is that lower odds will mean more jackpot winners which will boost revenues as it encourages more tickets sales. This will in turn direct more money to state lotteries and governments who can then spend the additional revenues on good causes and essential services.
The upcoming changes include:
- Better odds to win the jackpot
- More frequent big jackpots
- Larger starting jackpots
- Faster growing jackpots
- A built-in multiplier on every play
- No breakeven prizes
The built-in multiplier will improve every non-jackpot win by 2X, 3X, 4X, 5X or 10X. This goes up $10 million for matching five white balls.
The Mega Millions and Powerball US lotteries are currently available in 45 states, Washington, D.C., and the U.S. Virgin Islands. Powerball is also offered in Puerto Rico.
Following the announcement, Powerball officials confirmed that there are no plans to increase the game’s current $2 price point or to adjust the odds for draws.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
