The cost of a Mega Millions ticket will soon more than double - a move that lottery officials insist will come with better odds.
Beginning in April, it will cost $5 to play Mega Millions, 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.
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.
The changes will be introduced 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.
Joshua Johnston, director of the Washington Lottery and lead director of the group that oversees Mega Millions, 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.
“You pay 5 bucks for your Starbucks,” Johnston noted.
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Lottery officials will announce more specifics about the changes in the coming months, he said in October.
Mega Millions and its lottery counterpart Powerball are sold in 45 states, as well as Washington, D.C., and the U.S. Virgin Islands. Powerball also is sold in Puerto Rico.
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Powerball said it had no plans to increase prices.
