The Mega Millions lottery ticket price is being substantially increased to $5.2x its original cost.
Starting in April 2025, the cost of a lottery ticket will rise from $2 to $5. This price hike is anticipated to introduce a new and enhanced game with improved odds of winning and larger prizes, according to lottery officials who made the announcement on Monday.
This is the second price adjustment in Mega Millions' 22-year existence. In 2017, the fee was bumped up from $1 to $2, equivalent to the price of a Powerball ticket at the time. It was also when Mega Millions adopted its current system of selecting six numbers from two distinct pools. A perfect match, including the golden Mega Ball, results in a jackpot win.
Since these alterations were implemented, the jackpot has crossed the billion-dollar threshold six times, most recently in 2023 with a record-breaking $1.6 billion ticket won in Florida. Interestingly, three of the lottery's top 10 largest jackpots have occurred this year.
Adjusting the ticket price is expected to lead to more substantial initial jackpots and more swiftly growing jackpots, as well as eliminating "breakeven prizes," ensuring that every winning ticket surpasses the $5 ticket cost.
Further details about the altered game will be revealed over the next few months.
In Joshua Johnston's statement as the lead director of the Mega Millions Consortium, he expressed, "We anticipate an unprecedented number of billion-dollar jackpots, thereby creating more billionaires and numerous millionaires as the jackpots grow. Additionally, this game will uphold the significant legacy of aiding worthy causes wherever Mega Millions is played."
Mega Millions can be played in 45 states, including Washington D.C., the US Virgin Islands, and is drawn at 11 PM ET on both Tuesday and Friday nights.
The price increase for Mega Millions tickets from $2 to $5 in 2025 is part of a business strategy to introduce a new, enhanced game with improved odds and larger prizes. Due to the price adjustment, every winning ticket is expected to surpass the new ticket cost, eliminating "breakeven prizes."
