The new automatic multiplier for Mega Millions led to the average non-jackpot prize being five times as large in the first draw under the new format. The lottery calculated that figure by comparing the prizes to what the same numbers would have won without a multiplier in the previous format.
The new $5 tickets saw an extra $3.4 million paid out in prizes, getting players looking forward to what’s to come. Until this month, Mega Millions cost $2, but the multiplier only applied if players paid an extra dollar to participate. The new format also creates more winners overall and has no break-even prizes.
The built-in multiplier in the new game increases non-jackpot prizes, awarding winners with multiplied amounts. Last week’s drawing saw 217,904 winners across eight prize tiers receive increased prizes due to the 2x, 3x, 4x, 5x, or 10x multiplier.
According to Joshua Johnston, lead director of the Mega Millions Consortium, the new format is already paying dividends. He emphasized that it is delivering real value to players, making every drawing more exciting.
What’s new in the Mega Millions format?
The revamped Mega Millions game brings several key changes. As of April 8, ticket prices have increased from $2 to $5. However, this new price point includes an automatic multiplier feature that can boost winnings up to 10 times. Additionally, break-even prizes are no longer part of the game.
While the odds of winning the jackpot remain extremely low, the overall chances of winning any prize have improved slightly from 1 in 24 to 1 in 23.
The minimum jackpot has also increased to $50 million, and Mega Millions expects average jackpot wins to surpass $800 million.
What’s in it for players?
Winners of non-jackpot prizes can now expect to receive an average payout that’s five times larger than before. Although ticket prices have increased by 2.5 times, the bigger payouts more than make up for it—players are getting twice the value per dollar spent compared to the old format. This translates to more bang for your buck at every prize level and in every drawing.
Just last week, the previous Friday’s drawing had offered a $72 million prize, with a cash value option of $34.3 million, but unfortunately, there was no jackpot winner. The odds of winning the jackpot were 1 in 290,472,336. Will the new format bring good fortune to a lucky winner soon? Only time will tell.