Mega Millions to adjust starting jackpot amount, eliminate minimum jackpot increases

Lottery

LITTLE ROCK, Ark. – Bishop Woosley, director of the Arkansas Scholarship Lottery, announced today that 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,” Woosley said.

The advertised Mega Millions jackpot for tonight’s drawing is a guaranteed $121 million. If the jackpot is won, it will reset to a guaranteed $20 million for the next drawing on Tuesday. If there is no jackpot winner tonight, the jackpot will roll to an annuitized value of $127 million.

Woosley said immediately following the drawing tonight, 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,” he said. “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 each and are sold in 45 states, Washington, D.C., and the U.S. Virgin Islands. Drawings are held each Tuesday and Friday.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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