It’ll cost you to hit the jackpot.
The price to play Mega Millions has jumped to $5 — more than double its longstanding cost — as lottery officials promise the change will increase odds and churn out more billion-dollar jackpots.
Updates to the beloved lottery game, including the price increase from $2, went into effect just ahead of Tuesday night’s drawing.
Lottery officials say the increased revenue will improve the odds of winning the jackpot from 1 in 303 million to 1 in 290 million — and believe better odds will increase sales.
“People really want big jackpots,” said Joshua Johnston, the Washington state lottery director who heads the Mega Millions game. “We expect to see a sales lift on this.”
Higher ticket prices mean the jackpot can start at $50 million, instead of $20 million like it had previously. It also means every time there isn’t a big winner, the jackpot will swell even larger.
Given the minimum prize of $10 on a winning ticket in the new game, every winning ticket will pay out at least double the cost to play the game, lottery officials said.
The overall odds of winning any prize will improve to 1 in 23 from 1 in 24, officials added.
The increased ticket cost is only the second time prices for the game have risen in the game’s 20-year history.
Since the game launched in 2002, seven billion-dollar jackpots have been won in seven separate states and over 1,200 players have become millionaires, the company said.
With Post wires.
