Overview of Changes

Mega Millions is set to implement significant modifications starting next month, aiming to enhance the player experience. These updates, as disclosed during a recent announcement, include an increase in ticket prices and adjustments to prize structures, as well as a shift in the odds for winning.

New Ticket Pricing

Beginning April 4, Mega Millions ticket prices will rise to $5 each, replacing the previous cost of $2. This change will also see the discontinuation of an optional add-on designed to increase nonjackpot prizes. Previously, players could opt for a feature costing an additional dollar, and a two-play feature priced at $3 for a chance at the jackpot will also be eliminated.

Improved Odds of Winning

In exchange for the higher ticket cost, players will benefit from improved odds. The likelihood of winning any prize will change from 1 in 24 to 1 in 23. However, the odds of securing the jackpot will remain steep, slightly improving from 1 in 302,575,350 to 1 in 290,472,336. This makes Mega Millions’ jackpot odds comparable to those of Powerball, where players face odds of 1 in 292.2 million.

Despite these improvements, it’s important to note that players still have a lower chance of winning the jackpot than of being struck by lightning—an occurrence statistically calculated at 1 in 15,300 over a lifetime, as per the National Weather Service.

Changes to Prize Structures

Along with the shifted odds, there will be substantial increases to prize amounts. The minimum jackpot will now be set at $50 million, increasing from the former minimum of $20 million. Mega Millions estimates that average jackpot wins post-changes will exceed $800 million, a hefty rise from the prior average of approximately $450 million. Additionally, smaller prizes will now include a random multiplier, enhancing smaller winnings significantly.

Joshua Johnston, lead director of the Mega Millions Consortium, explained the implications of these changes: “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.”

Drawing Schedule and Historical Context

Mega Millions drawings take place twice a week, every Tuesday and Friday at 11 p.m. Eastern Time. The new changes will take effect during the drawing on April 8. Tickets are available in 45 states, Washington, D.C., and the U.S. Virgin Islands.

The largest Mega Millions jackpot to date was a staggering $1.602 billion, which was won on August 8, 2023, with a single ticket sold in Florida.