Not even lottery tickets are immune to the inflationary disaster created under the Biden/Harris administration.
Mega Millions ticket prices will rise from $2 to $5 in April 2025, but the company - doing its best Stephanie Kelton impression - promises "bigger jackpots" and more chances to win, according to Consumer Affairs.
Of course, they mean bigger nominal jackpots, as by the time the changes are implemented it'll likely cost $50 for your morning coffee, but we digress...
Joshua Johnston, Lead Director of the Mega Millions Consortium, commented: “We are creating a game that both our existing players and people new to Mega Millions will love and get excited about playing.”
He added: “We expect more billion-dollar jackpots than ever before, meaning creating more billionaires and many more millionaires as the jackpots climb, plus this game will continue the important legacy of supporting great causes everywhere Mega Millions is played.”
Consumer Affairs writes that this is only the second price hike since Mega Millions' current format launched over 20 years ago - but the last increase was in 2017, when tickets doubled from $1 to $2.
The new ticket price comes with enhanced features: better odds of hitting the jackpot, more frequent and larger starting jackpots, faster growth, and a built-in multiplier that can boost non-jackpot wins up to $10 million. Players will also no longer face breakeven prizes—every win will exceed the ticket cost.
The company aims to attract both seasoned players and newcomers with these updates, hoping to build on a history that has produced six billion-dollar winners since 2018. The largest prize, $1.6 billion, was claimed by a Florida resident in August 2023. With these changes, Mega Millions hopes to welcome more players into the billion-dollar club.
Although the changes take effect in April 2025, players can still participate in drawings every Tuesday and Friday night at 11 p.m. ET.
At this rate, rising 150% every 6 years, tickets will cost $12.50 by 2030.
