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Big changes coming to Mega Millions next year, including bigger prizes and better odds

Big changes coming to Mega Millions next year, including bigger prizes and better odds
AS OUR MARY SALADNA EXPLAINS TONIGHT, YOU KNOW, WE OFTEN SEE THE TWO JACKPOTS ADVERTISED SIDE BY SIDE POWERBALL AND MEGA MILLIONS. BUT NOW THE ORGANIZERS OF MEGA MILLIONS ARE LOOKING TO SHAKE THINGS UP. MEGA MILLIONS IS ABOUT TO GET A MEGA OVERHAUL. STARTING NEXT SPRING, THE GAME WILL OFFER IMPROVED ODDS TO WIN BIGGER JACKPOTS, MORE FREQUENTLY, LARGER STARTING JACKPOTS, AND FASTER GROWING JACKPOTS. THE NEW TICKET WILL ALSO INCLUDE A BUILT IN MULTIPLIER ON EVERY PLAY, WHICH WILL MULTIPLY A NON-JACKPOT WIN UP TO TEN TIMES, OR UP TO $10 MILLION. IN ADDITION, THE REVISED GAME DOES AWAY WITH BREAK EVEN PRIZES, SO IF YOU WIN, YOU’LL ALWAYS WIN MORE THAN THE COST OF THE TICKET. THE MEGA MILLIONS IS OFFERED IN 45 STATES AND TWO U.S. TERRITORIES, SO THESE CHANGES ARE BEING MADE AT THE NATIONAL LEVEL. THEY’RE CONSTANTLY LOOKING AT WAYS TO TO ENHANCE THE GAMES, MAYBE MAKE THEM A LITTLE BIT DIFFERENT THAN POWERBALL. YOU HAVE PROBABLY HEARD ABOUT JACKPOT FATIGUE. IT USED TO BE $100 MILLION AND EVERYBODY WAS PLAYING. AND THEN IT BECAME 300, AND THEN IT WAS 500, AND NOW IT’S REALLY APPROACHING $1 BILLION BEFORE YOU REALLY SEE THE SALES KICK UP. BUT HERE’S THE CATCH. SHAKING THINGS UP WILL ALSO MEAN A CHANGE IN THE PRICE OF A MEGA MILLIONS TICKET, WHICH IS CURRENTLY $2 $3. IF YOU ADD THE MEGA PLIER, THE SAME PRICE. NOPE. FIVE BUCKS. THE OH, I DON’T KNOW. I DON’T KNOW. THAT’S A TOUGH SELL, BUT MOST FOLKS TOLD US THEY HAVE NO PROBLEM WITH THE FLAT $5 TICKET PRICE. LET’S DO THIS. LET’S LET’S GET THIS OVER WITH. I’M WITH THIS. OKAY? OKAY, I’LL PAY $10 IF IT’S GOING TO GET ME SOME MORE MONEY. THEY HAVE $50. SCRATCH TICKETS. PEOPLE BUY THEM LIKE IT’S NOTHING. SO WHAT’S $5 FOR MEGA MILLIONS? FOR BETTER ODDS TO WIN. IF YOU’RE NOT SURE WHAT TO MAKE OF THESE CHANGES, AT LEAST YOU’LL HAVE SOME TIME TO GET USED TO THEM. THEY DON’T TAKE EFFECT UNTIL NEXT APRIL IN NORWOOD.
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Big changes coming to Mega Millions next year, including bigger prizes and better odds
Mega Millions, the multi-state lottery game that has produced five jackpot winners in Massachusetts, will have some big changes coming in April 2025.Mass Lottery said the changes will include better odds at winning, larger starting jackpots, faster-growing jackpots and bigger and more frequent jackpots.The new ticket will also include a built-in multiplier on every play, which will multiply a non-jackpot win up to 10 times ... or up to $10 million.Additionally, the newly revised game will get rid of break-even prizes, so winners will always win more than the cost of the ticket.Since the Mega Millions ticket is sold in 45 states and two U.S. territories, these changes are being made at the national level."They're constantly looking at ways to enhance the games, maybe make them a little bit different than Powerball," said Christian Teja, the Mass Lottery director of communications."You have probably heard about jackpot fatigue, it used to be $100 million and everybody was playing. Then it became $300 million. Then it was $500 (million). Now, it's really approaching a billion dollars before you see the sales kick up."However, these changes also mean a change in the price of a Mega Millions ticket, which is currently $2. The cost of buying a Mega Millions jackpot dream will soon more than double. Lottery officials announced Monday that it will cost $5 to play Mega Millions, beginning in April, but officials said they're confident players won't mind paying more after changes that will lead to larger prizes and more frequent winners."Let's do this. Let's get this over with. I'm with this," said Norwood resident Frank Clagon. "I'll pay $10 if it's going to get me some more money."Mega Millions will introduce changes at a 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."They have $50 scratch tickets (and) people buy them like it's nothing," said Norwood resident Gina Collins. "So what's $5 for Mega Millions for better odds to win."Powerball officials said they have no plans to change that game's odds or the $2 price for most tickets.Those much-hyped jackpot numbers also could take a hit as interest rates fall. That's because on billboards or other advertisements, state lotteries emphasize the annuity payout for jackpots, distributed over decades from an investment fund.As interest rates have been high, the annuity jackpots have more than doubled the cash prizes that winners nearly always choose.With an expectation that interest rates will drop, those annuity jackpot figures will decline, so the advertised jackpot won't seem quite so massive.Lottery officials said the biggest motivation was to differentiate Mega Millions from Powerball and attract customers who might now pass on both games.More than doubling the ticket price is a big move, but Johnston 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.Lottery officials said they will announce more specifics about the changes in the coming months.

Mega Millions, the multi-state lottery game that has produced five jackpot winners in Massachusetts, will have some big changes coming in April 2025.

Mass Lottery said the changes will include better odds at winning, larger starting jackpots, faster-growing jackpots and bigger and more frequent jackpots.

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The new ticket will also include a built-in multiplier on every play, which will multiply a non-jackpot win up to 10 times ... or up to $10 million.

Additionally, the newly revised game will get rid of break-even prizes, so winners will always win more than the cost of the ticket.

Since the Mega Millions ticket is sold in 45 states and two U.S. territories, these changes are being made at the national level.

"They're constantly looking at ways to enhance the games, maybe make them a little bit different than Powerball," said Christian Teja, the Mass Lottery director of communications.

"You have probably heard about jackpot fatigue, it used to be $100 million and everybody was playing. Then it became $300 million. Then it was $500 (million). Now, it's really approaching a billion dollars before you see the sales kick up."

However, these changes also mean a change in the price of a Mega Millions ticket, which is currently $2. The cost of buying a Mega Millions jackpot dream will soon more than double.

Lottery officials announced Monday that it will cost $5 to play Mega Millions, beginning in April, but officials said they're confident players won't mind paying more after changes that will lead to larger prizes and more frequent winners.

"Let's do this. Let's get this over with. I'm with this," said Norwood resident Frank Clagon. "I'll pay $10 if it's going to get me some more money."

Mega Millions will introduce changes at a 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.

"They have $50 scratch tickets (and) people buy them like it's nothing," said Norwood resident Gina Collins. "So what's $5 for Mega Millions for better odds to win."

Powerball officials said they have no plans to change that game's odds or the $2 price for most tickets.

Those much-hyped jackpot numbers also could take a hit as interest rates fall. That's because on billboards or other advertisements, state lotteries emphasize the annuity payout for jackpots, distributed over decades from an investment fund.

As interest rates have been high, the annuity jackpots have more than doubled the cash prizes that winners nearly always choose.

With an expectation that interest rates will drop, those annuity jackpot figures will decline, so the advertised jackpot won't seem quite so massive.

Lottery officials said the biggest motivation was to differentiate Mega Millions from Powerball and attract customers who might now pass on both games.

More than doubling the ticket price is a big move, but Johnston 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.

Lottery officials said they will announce more specifics about the changes in the coming months.