That's the line that I found really interesting. Currently, if you spend $10, you get 5 tickets, each with a 1 in 302 million chance to win the jackpot, so you have a one in 60.4 million chance. After the change, you'll get 2 tickets for your $10, each with a one in 290 million chance, so your chance to win is now one in 145 million.
No, thanks. I buy maybe one Mega Millions ticket a month now (bought one earlier today, in fact), but I won't play it ever again after they "improve" it.
Correct. They are intentionally misleading their customers
Not even that good...as each ticket individually would still only be that chance. Your chances don’t actually go up that much with buying two tickets, because it is still the chance of the numbers randomly being drawn to match them. I don’t know how to show the math on that but your chances do not anywhere near double with two tickets.
The odds don’t really work that way. 5 tickets would only increase your odds to 1 in 301,999,995 instead of 1 in 302 million. 2 tickets would increase your odds to 1 in 289,999,998. Neither one is a “good” bet, but an interesting diversion if you are so inclined.
I must be missing something. If the odds of winning are 1 in 302 million, with 5 tickets the absolute chance of winning is 5 in 302 million.
Yes, the relative chance of 5 tickets versus 1 ticket has quintupled (5x), but absolute chances haven't significantly improved at all.
In this case, the price of the ticket will go up to $5, so for $10 you only get two tickets instead of 5, decreasing your relative chances by 2.5 (5 divided by 2).
The article states the odds will go from 1 in 302 million to 1 in 290 million. If you will only buy two tickets due to the higher cost, your absolute chances will go from 5 in 302 million (0.0000017%) today to 2 in 290 million (0.0000007%) when the new prices start in 2025.
You will be paying more for less. More Bidenomics of course.