Mega Millions Debuts $5 Ticket with Higher Stakes

Mega Millions has launched its first drawing with a new $5 ticket price, a bold overhaul that lottery officials promise will deliver better odds for hitting the jackpot and boost payouts across all prize levels. The changes, rolled out after months of planning, aim to reinvigorate the multistate game by starting jackpots at $50 million and accelerating their growth, with tonight’s drawing marking a fresh era for players in 45 states, Washington, D.C., and the U.S. Virgin Islands.

The ticket price jumped from $2 to $5, the second increase in the game’s 23-year history. This shift follows a 2017 hike from $1 to $2, reflecting a strategy to fund larger prizes.

Odds of winning the jackpot have improved slightly, moving from 1 in 302.6 million to 1 in 290.5 million. This tweak comes from reducing the Mega Ball pool from 25 to 24 options.

Every ticket now includes a built-in multiplier, ranging from 2X to 10X, applied to non-jackpot winnings. The old $1 Megaplier add-on has been scrapped in favor of this automatic boost.

Non-jackpot prizes now start at $10, ensuring no winner walks away with less than double their ticket cost. Matching just the Mega Ball, previously a $2 prize, can now yield up to $50.

The minimum jackpot has more than doubled, rising from $20 million to $50 million after each win. Lottery officials project average jackpots will climb past $800 million, up from $450 million.

Tonight’s drawing, held at 11 p.m. Eastern, follows a $43 million jackpot that went unclaimed last Friday. That prize has rolled into the new format, starting tonight at an estimated $54 million.

Critics argue the price hike may deter casual players, especially with inflation pinching wallets. However, officials counter that bigger prizes and better odds will draw more participants.

The multiplier system means matching five white balls could net between $2 million and $10 million. This replaces the flat $1 million prize, adding unpredictability to the payout structure.

Retailers report mixed reactions, with some players excited for larger rewards and others grumbling over costs. Sales data from tonight’s drawing will offer the first clue on public reception.

Powerball, Mega Millions’ rival, remains at $2 per ticket with no immediate plans to adjust pricing. Its jackpot odds sit at 1 in 292.2 million, slightly worse than the new Mega Millions odds.

States rely on lottery revenue for education and other public services, banking on this revamp to boost funds. Officials expect more billion-dollar jackpots, a proven lure for ticket sales spikes.