Mega Millions Flaunts New Format Success, Richer Winnings
Earlier this month, Mega Millions revamped its gameplay, raising the base price to participate from $2 to $5. Lottery officials report that the modification has proven successful.
The Mega Millions Group, managing the interstate lottery game from the Georgia Lottery Studios in Atlanta, states that its players have swiftly adapted to the new format. Although the entry fee skyrocketed by 150%, each $5 ticket now comes with the previously optional Megaplier automatically added, enhancing winnings by two, three, four, five, or even ten times.
During the Mega Millions drawing on April 8, lottery officials reported that 217,904 tickets secured a prize of some kind. In the previous format, those victories — provided that none featured the $1 add-on Megaplier — would total $840,628. With the new structure incorporating the multiplier, the total wins reached over $4.32 million.
"We couldn’t be more thrilled for our players and for how the new game is being received. As players are coming into grocery stores, convenience stores, and lottery offices today to collect prizes that are two, three, four, five, and ten times what they’ve seen in the past, it’s putting a smile on their faces, because that’s real, everyday money to most people,” said Joshua Johnston, lead director of the Mega Millions Consortium.
“This is why the game change matters; it’s providing value to our players at every prize level and every drawing,” Johnston added.
In contrast to the previous game, Mega Millions representatives claim the updated format offers larger prizes at all non-jackpot tiers, enhanced chances of winning the jackpot, improved overall odds, a greater initial jackpot, quicker jackpot increases, and eliminates break-even prizes. The likelihood of winning the jackpot changed from one in 302.2 million to one in 290.4 million.
Even Lottery Games Are More Expensive
COVID-19 increased expenses for nearly everything. President Donald Trump's trade war is likely to put more pressure on consumers' finances.
Although the increase in Mega Millions' price appears poorly timed, officials from Mega Millions acknowledge the economic strains.
"We recognize that in today’s economic climate, players may be feeling unsettled about the price of everyday goods. Mega Millions is about entertainment, and players should always make sure their basic needs are met before purchasing a lottery ticket,” said Johnston.
The Mega Millions spokesperson stated that the game's redesign was the result of three years of effort and collaboration among the 47 jurisdictions involved in the game. The increase in rates was just the second price modification since the initial Mega Millions ticket was purchased over 20 years ago.
No $5 Mega Millions Prize Thus Far
Three Mega Millions drawings have occurred since the $5 buy-in was implemented. None of the millions of tickets have yet matched the five drawn white balls and the gold Mega Ball to win the jackpot.
That may shift this evening, as countless Mega Millions participants will eagerly anticipate the 11 pm EST drawing. If a ticket matches all six numbers, the winner can choose to receive the $112 million prize distributed over 29 years or a one-time immediate cash payment of $49.3 million. Both awards are subject to federal and potentially state taxation.
