Some would say "why ask questions when something this good happens?!" but lets take a look at the subject at hand and find out why exactly the jackpot and rules were changed last month. Up until not very long ago the minimum starting jackpot for the USA Mega Millions lottery was $15,000,000 and before that it was $5,000,000. The idea that it would go up to $40,000,000 was pretty much inconceivable up until just a few months ago.
Now that the rules have changed and so has the jackpot, you might want to know the reasons why this has happened. Well the reasons are pretty simple - there were not enough tickets being sold and not enough smaller prizes being given out, people were loosing interest.
So the rules changes which make it harder to win the jackpot but easier to win smaller prizes, will bring up ticket sales for those who are looking for a small prize which can get up to $1,000,000 for a 2nd tier win or $500 for a 5th tier win. The odds of winning the smaller prizes from $500 and less are actually pretty good. The rules that were changed made the odds of winning these prizes a little bit better.
The minimum jackpot which starts at a whopping $40,000,000 is also a big game changer. Although the new rules now also make it a little bit harder to win this prize than before, the larger minimum jackpot is also expected to bring up ticket sales and in return also bring up lotto revenues.
When more tickets are sold and there is a rollover, the jackpot also gets bigger due to revenue being put back into the prize pool. We saw this happen last year during the Powerball craze when in a matter of hours the estimated jackpot prize rose by hundreds of millions of dollars due to large increase of ticket sales prior to the draw, after the jackpot reached over $1 billion.
We will probably also witness these kinds of jackpots and lottery fevers in the near future with the Mega Millions lotto, now that the rules and the minimum jackpot prize have changed. Even now the jackpot has soared up to $176,000,000 after only just a small number of roll-overs and we may even be seeing a new Mega Millions record jackpot before the year is over.
The current record Mega Millions jackpot prize is $656 million, and that was back when the minimum jackpot was a lot less then it is today. We expect to be seeing new record being made, and soon.