Mega Millions to Adjust Starting Jackpot Amount, Eliminate Minimum Jackpot Increases
Changes will take place following the Friday, April 3, drawing
TRENTON (April 4, 2020) – The Mega Millions Consortium has adjusted the game’s starting jackpot and will determine the amounts of subsequent starting jackpots and jackpot increases on a drawing-by-drawing basis. The changes are in direct response to slowing sales during the current global pandemic.
The advertised Mega Millions jackpot for Friday, April 3, is a guaranteed $121 million. If the jackpot is won that evening, it will reset to a guaranteed $20 million for the next drawing on April 7. If there is no jackpot winner on April 3, the jackpot will roll to an annuitized value of $127 million. Immediately following the drawing on April 3, the next new starting jackpot and the rate at which the jackpot increases will be established based on game sales and interest rates, with no fixed minimum amount. Subsequent jackpot amounts will be determined and announced prior to each drawing. Previously, the jackpot started at $40 million, and the minimum increase was $5 million for each roll.
“The value of the Mega Millions jackpot is based on projected sales, and typical sales patterns have been altered because the current health crisis has required people to stay home,” said Gordon Medenica, Lead Director of the Mega Millions Consortium and Director of Maryland Lottery and Gaming. “We are concerned, first and foremost, with everyone’s health and well-being. Meanwhile, these adjustments will allow the states and jurisdictions that sell Mega Millions tickets to continue generating much-needed revenue to support state budgets.”
Mega Millions tickets are $2 and are sold in New Jersey, 44 states, Washington, D.C., and the U.S. Virgin Islands. Drawings are held each Tuesday and Friday. Half of the proceeds from the sale of each Mega Millions ticket remains in the state where the ticket was sold, where the money supports lottery beneficiaries and retailer commissions. Lottery revenues are allocated differently in each jurisdiction.