Mega Millions will determine future starting jackpots based on ticket
sales and interest rates, rather than offering a guaranteed minimum
amount. Rollover increases will also be decided and announced before
each drawing.Get more news about
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The changes will go into effect after the next jackpot win. The next drawing is Tuesday, April 7.
The adjustments have been made because of lower ticket sales during the
coronavirus pandemic, as more Americans stay at home.The advertised
jackpot is an annuitized amount - it reflects the value of the money
from ticket sales at the time of the drawing if it is invested over the
years of the annuity payout period.
Jackpot winners who take the cash lump sum option receive the amount
that is available from ticket sales when the draw takes place.
No one won the $121 million top prize on Friday, April 3, and it has
increased to $127 million for the next draw on Tuesday, April 7.
Mega Millions said that if the jackpot had been won on Friday, it would
have reset to a guaranteed $20 million minimum. However, they have not
announced that a guaranteed minimum will apply if the jackpot is won on
Tuesday.
“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.
“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.”
The Wall