When it comes to Mega Millions pricing, the Georgia Lottery Corporation isn’t saying much.
While it isn’t saying the price of the game is set to increase, it also is not denying it.
Multiple online sources are now speculating that Mega Millions, one of the most popular lottery draw games in the US, will increase the price of a ticket this summer from $2 to $5.
Mega Millions is supervised by the GLC. When PlayiLottery reached out for comment, Communications Director Tandi Reddick responded with the following:
“We don’t have anything to report today. We’ll certainly keep you updated if and when any changes are made.”
Reddick didn’t deny anything, which would have been very easy to do if it wasn’t in consideration.
Mega Millions vs. Powerball comparison
Part of the reason Mega Millions could be looking to change the price of its game is to differentiate itself from Powerball.
The two multistate games are quite similar in their format. However, they do have subtle differences:
| Powerball | Mega Millions | |
|---|---|---|
| Started | April 1992 | August 1996 |
| Ticket price | $2 | $2 |
| Add-ons | $1 Power Play | $1 Megaplier |
| Drawings per week | 3 | 2 |
| Format | Five Numbers + 1 Powerball | Five Numbers + 1 Mega Gold Ball |
| Number range | 1-69 White balls 1-26 Powerball | 1-70 White balls 1-25 Gold Ball |
| Starting jackpot | $20 million | $20 million |
| Odds to win jackpot | 1 in 292,201,338 | 1 in 302,575,350 |
| Odds to win $1 million | 1 in 11,688,054 | 1 in 12,607,306 |
| Where is it available? | 45 states, Washington D.C., Puerto Rico, and Virgin Islands | 45 states, Washington D.C. and Virgin Islands |
| Who runs it? | Multi-State Lottery Association | A consortium of its original lottery states. It is supervised by the Georgia Lottery Corporation |
One of the key distinctions is who runs each game.
Powerball is controlled by the Multi-State Lottery Association (MUSL), which incorporates all 45 states that offer a lottery. Mega Millions is operated by a select few states that come together to decide on any changes to the game.
Reports indicate that those states will gather in June to discuss a potential change in pricing.
Mega Millions raised prices in 2017
This wouldn’t be the first time Mega Millions increased its ticket price.
Back in October 2017, the multistate game adjusted pricing from $1 to $2.
However, along with becoming more expensive, greater prizes were also offered.
The opening jackpot had started at $15 million, but then jumped to $40 million. The starting jackpot dropped to $20 million during the pandemic. It now has a varied beginning, based on sales.
The odds of winning $1 million also improved with the price increase in 2017.
The game format was also slightly altered, as the Mega Ball options went from 1-15 to 1-25. That made winning the overall jackpot more difficult to allow for the progressive pot to climb more consistently and lead to additional billion-dollar grand prizes.
Would price hike push players to Powerball?
It’s certainly understood how raising a ticket price could lead to more revenue for Mega Millions.
Moving tickets up to $5 is more than double what they currently cost now.
However, Mega Millions runs the risk of pricing out its customer base if it elects to go that route.
If a player typically uses the Megaplier option, that makes each ticket go from $3 to $6.
It’s hard to imagine the player database will remain as strong out the gate if a price hike occurs.
Granted, the game would need just half the ticket purchases to reach its current pot limits. But, if the goal is to push the jackpots higher and draw bigger revenue, that could backfire.
In fact, it could drive players to spend their dollars on Powerball and increase its competition’s sales and jackpots.
Should players set aside a certain amount for their Mega Millions or Powerball purchases, they likely want the most tickets for their budget.
Photo by Mike Stewart / AP
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