Mega Millions redesign means bigger jackpots, higher ticket price

A Mega Millions ticket will cost $2 beginning with the Oct. 31 drawing

That will reportedly increase the game's starting jackpot from $15 million to $40 million.

And it's the big jackpots that bring lottery buyers into the game.

Starting with the October 31 drawing, a ticket will double in price, from $1 to $2.

It will be harder to win the jackpot because players will pick a Mega Ball number from 1 to 25 instead of 1 to 15.

Chances of winning the jackpot will decrease from 1-in-258.9 million to 1-in-302.6 million, while the chance of winning any prize - which will run from $2 to the jackpot - will go from 1-in-14.7 to 1-in-24.

The Arkansas Scholarship Lottery announced that winning the Mega Millions is about to have better odds of winning $1 million dollars, higher average jackpots and faster-growing jackpots.

This week's drawings on Tuesday and Friday night will be the last time that you can buy a $1 ticket to the multi-state lottery. Mega Millions now is played in 46 jurisdictions: 44 states plus the District of Columbia and the U.S. Virgin Islands.

Your odds of winning the Mega Millions jackpot are about to get even longer. That option is only offered in six states, according to the Asbury Park Press. The $2 ticket price did not change. Mega Millions also will still offer $1 tickets to win lower-tier prizes. The largest Mega Millions payout in history is a $656 million prize split by three winners in Illinois, Kansas and Maryland in 2012. This is expected to speed up jackpot growth and increase the likelihood of jackpots reaching $1 billion or more.

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