Mega Millions has announced several changes, including a higher ticket price, adjusted odds, and bigger jackpots, according to the multistate lottery. The first drawing under the new structure is set for later today.
New Ticket Price and Prizes Players will now pay $5 per ticket, an increase from the previous price of $2, Mega Millions confirmed. Optional add-ons, which allowed players to boost non-jackpot prizes for an additional dollar, and a $3 feature for two jackpot-only plays, have been discontinued.
Improved Odds with Higher Price With the price increase, the odds of winning have improved slightly. The odds of winning any prize now stand at 1 in 23, better than the previous 1 in 24. However, the odds of winning the jackpot have also improved, but are still incredibly slim. The chances of winning the Mega Millions jackpot now stand at 1 in 290,472,336, down from 1 in 302,575,350. This makes the odds closer to those of Powerball, which are 1 in 292.2 million.
Despite the improvement in odds, winning the jackpot is still far less likely than being struck by lightning, which has odds of 1 in 15,300, according to the National Weather Service.
Prize Structure Changes To win the Mega Millions jackpot, players must match the five white balls and the gold Mega Ball. The smallest prize is awarded for matching just the Mega Ball. As part of the changes, the jackpot minimum has increased from $20 million to $50 million. Additionally, a random multiplier will now be added to smaller prizes.
Joshua Johnston, lead director of the Mega Millions Consortium, stated that players who previously won $2 under the old system can now win prizes ranging from $10 to $50. Those who won $500 before will now receive between $1,000 and $5,000 under the new structure.
Drawing Schedule and Largest Jackpot Mega Millions drawings are held every Tuesday and Friday at 11 p.m. Eastern Time. Tickets are available in 45 states, Washington, D.C., and the U.S. Virgin Islands.
The largest Mega Millions jackpot in history was $1.602 billion, won on August 8, 2023, with a single ticket sold in Florida.
