More Giant Lottery Jackpots Are in Our Future

by Karl Utermohlen | September 17, 2013 2:11 pm

Lottery jackpots have had larger payoffs lately thanks to recent rule changes and it appears that more massive payoffs are impending.

The Associated Press reports[1] that Mega Millions is following Powerball’s initiative and changing their rules so people have the opportunity of making more money. The lead director of Mega Millions said that consumer research revealed that Powerball enjoyed more success after raising its lottery ticket prices from $1 to $2 and raising the starting jackpot from $12 million to $15 million.

Mega Millions is doing something similar to Powerball’s price change but with a slight difference. Instead of changing the price of tickets, they will still be $1 but they will also have a $1 add-on option that will allow players to make between $1 million and $5 million in secondary prizes, much more than the standard $250,000 secondary prize.

One of the largest payoffs of all time was a $448 Powerball lottery that produced three winning tickets[2].

Endnotes:
  1. The Associated Press reports: http://hosted.ap.org/dynamic/stories/U/US_LOTTERY_JACKPOTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-09-17-10-57-54
  2. produced three winning tickets: http://investorplace.com/2013/08/3-winning-tickets-in-448m-powerball-lottery/

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