Mega Millions tickets set to go to $5, but promise bigger prizes and better odds

The cost of buying a Mega Millions jackpot dream will soon more than double, but lottery officials said they’re confident players won’t mind paying more after changes that will lead to larger prizes and more frequent winners.

Lottery officials announced Monday that it will cost $5 to play Mega Millions, beginning in April, up from the current $2 per ticket. The price increase will be one of many changes to Mega Millions that officials said will result in improved jackpot odds, more frequent giant prizes and even larger payouts.

“Spending 5 bucks to become a millionaire or billionaire, that’s pretty good,” said Joshua Johnston, director of the Washington Lottery and lead director of the group that oversees Mega Millions.

More than doubling the ticket price is a big move, but Johnston said research shows people feel comfortable spending at least $5 when they buy scratch tickets or chances at the draw games, like Mega Millions. It is the second price increase since the game was created in 2002.

Powerball officials said they have no plans to change that game’s odds or the $2 price for most tickets.

Mega Millions’ hope is that by increasing ticket revenue and rejiggering the odds — now set at 1 in 302.6 million — to something less stratospheric, more people will win jackpots even as prizes grow extraordinarily high, which attracts more players. The goal is to increase revenue and provide more money to state lotteries, which in turn spend it on a variety of government services.

Mega Millions will introduce changes at a time when fewer people are buying tickets and jackpots need to reach ever-higher figures before sporadic players notice and opt to buy a ticket or two. Whereas a $500 million jackpot once prompted lines out convenience store doors, top prizes of $1 billion now often draw more of a ho-hum response.




A Mega Millions logo is displayed on a vending machine at the Hoosier Lottery booth at the Indiana State Fair, Thursday, Aug. 3, 2023, in Indianapolis. (AP Photo/Darron Cummings, File)