April 16, 2024 3 min read

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Mega Millions Ticket Price to Increase from $2 to $5, Reports Claim

While people familiar with the matter were convinced that this decision was “about as close to final as it can be,” lottery officials are yet to comment

Mega Millions’ head honchos are considering raising the price of the tickets, according to reports. While still unofficial, anonymous sources told Lottery Geeks that the price is expected to skyrocket from $2 to $5.

While people familiar with the matter were convinced that this decision was “about as close to final as it can be,” lottery officials are yet to comment.

In any case, raising the price of the tickets to $5 would mark a significant change. When the game was introduced back in 1996, the cost of the tickets stood at $1. This price was doubled in 2017 when the consortium that oversees the game decided to establish a starting jackpot of $40 million (previously $20 million).

However, once the pandemic came, the starting jackpot was scaled back to $20 million but the ticket price wasn’t.

Why Modify the Price Now?

Sources told Lottery Geeks that the increase from $2 to $5 has several goals, one of which is to allow players to distinguish between Mega Millions and Powerball. Additionally, the consortium behind the game is allegedly considering increasing non-jackpot prizes. Finally, an increase in the ticket price would also allow the game to provide more funding to causes, such as education.

According to sources, this change has been considered for almost two years. The administrators of Mega Millions have also considered a variety of other changes, such progressive-style jackpots in separate states. However, this would have created a variety of logistical issues, which is why the nine Mega Millions consortium states have instead decided to increase the price, according to the reports.

Despite that, raising the price of Mega Millions tickets from $2 to $5 is obviously a risky move and may be a turn-off to some players. An economist told Lottery Geeks that the price elasticity of the Mega Millions tickets is yet to be seen.

As mentioned, the move seeks to cement Mega Millions as a game that is not getting confused with Powerball. However, a large part of mass lotteries’ appeal has been the cheap tickets, according to experts, meaning that some players may be alienated even if Mega Millions starts offering better prizes.

In any case, accumulating huge jackpots would be the best advertising for the game, according to experts. Additional unknowns include the potential modification of non-jackpot prize amounts. While most people play for the jackpot, smaller prizes are still important to many players. However, increasing non-jackpot prizes would mean reducing the money fueling the jackpot.

The ticket price change is expected to be voted on during a director’s meeting in Puerto Rico in June, according to people familiar with the matter.

Journalist

Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.

18 Comments

  • Nick Robbins
    April 16, 2024 at 12:52 pm

    I guess I will have to stop playing. I live in Alabama and have to drive to Tennessee to buy my lottery ticket. This cost raise will make it too costly.

    • AIza
      April 17, 2024 at 11:09 pm

      I will stop paying for good I spend $30 a week

  • James
    April 16, 2024 at 3:20 pm

    Don’t raise the price of MegaMillion tickets that’s too expensive we are in a recession.

  • Angel
    April 16, 2024 at 3:38 pm

    I think that the end, players will respond better if their winning odds, can significantly increase.
    I constantly see folks buying the $5.00 and even $10.00 scratch off boards where the odds of winning may be lower.
    I don’t mind buying 2or 3 games for $5.00 each if I see better chances of getting substantial winning compensation!

    On the flip side, msy need to be mindful that a higher per ticket cost may increase the already troublesome gambling addiction problem! Where the expectation of winning, clouds the reality of a challenging personal or family financial situation.
    Angel

  • Terry
    April 16, 2024 at 4:34 pm

    Well if they raise the price the rich will get richer because us poor ones will not be able to afford to play especially the way the economy is right now

  • Chris crawford
    April 16, 2024 at 10:40 pm

    I will definitely not play mega millions again if this passes. They already cheating ppl out of their money

  • Younger
    April 16, 2024 at 11:08 pm

    Hell noooo! Mega million payouts are lower than power ball at 2/3/4 winning numbers. To distinguish mega from power ball ? Draw date and day

  • Andy Wrubel
    April 16, 2024 at 11:22 pm

    Looks like I won’t be buying mega millions tickets anymore.

  • Bobo
    April 16, 2024 at 11:25 pm

    People will play more $2.00 lotto games/scratchers.

    • Daniel Bruesch
      April 24, 2024 at 5:01 pm

      What they NEED TO DO is pull a winner for every million dollars collected thus making more people millionaires instead of one billionaire. More people happy and more people playing instead of just one BIG winner.

  • Barry
    April 16, 2024 at 11:35 pm

    Theirs going a lot people not playing anymore and I probably be one of them

  • M. Magda
    April 16, 2024 at 11:54 pm

    This is just wrong. I grew up in Connecticut in the 70’s and remember when they were trying to get the lottery voted in with constant commercials emphasizing that a majority of the proceeds would go towards education. I put 4 children through the public school system and parents were constantly having drives to raise money for the kids extra curricular activities such as band equipment, uniforms, math and chess clubs etc. This authors next piece should be to investigate just how much really makes it towards education. The layers of bureaucracy in school administration with most earning more than 2 to 4 times what the average teacher makes is sickening. Almost all of those that are there to judge and refine how teaching must be taught have never experienced actually teaching a class room filled with students at any grade level. Don’t even get me started on course books. These get replaced almost every year at a cost to yours truly, the tax payer. Book publishers are raking it in every year. The department of education needs to be overhauled and so should the lottery commission for failing to administer funds to where they originally intended…. actually teaching our kids.

  • David Ingram
    April 17, 2024 at 12:24 am

    Apparently the consortium doesn’t realize how much people are being drained by the cost of living. I personally will quit playing the Mega. I don’t play the Mega for the other prizes. I play for the chance to win millions. They keep making it harder and harder to win.. Everyone needs to show how they feel about the increase and quit buying Mega Million tickets. I vote no for $5 ticket…

  • Misty
    April 17, 2024 at 1:50 am

    No, why would you do that with an increase of more than double.. more ppl won’t play.

  • fred smith
    April 17, 2024 at 3:45 pm

    this is stupid. wont play it.

  • Joe
    April 17, 2024 at 9:03 pm

    This will definitely cause poeple to stop playing maybe if they reduced numbers to make it easier to hit a jackpot it may persuade people to play its ridiculous have a jackpot of a billion dallors

  • Luis
    April 17, 2024 at 9:55 pm

    Well what did people expect, CEO’s LOVE money and if they want to distinguish the difference why don’t they make the mega 1$ and the power ball2$? Ahhhh because the bottom line is the CEO’s are greedy and are taking advantage of inflation. Vote with your money and stop buying tickets altogether and these greedy bastards will listen once it effects their pockets

  • Mike
    April 18, 2024 at 9:40 am

    It’s a farce. green screen numbers drawn. the computers know all numbers before drawing and all of a sudden no winners for weeks or months. then all of a sudden theirs a multi million or a billion dollar winner. then the state and gov takes so much in taxes and fees. hmmmmm. remember when there were winners all the time now a few a year. wierd..scam.someday it will come out.

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