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Could the Mega Millions jackpots become Mega billions?

Mon 20 Jun 2016, By Dean Cromwell
Could the Mega Millions jackpots become Mega billions

The Mega Millions jackpot is now standing at an incredible $310 million. It’s a prize that many would love to get their hands on, but if there’s no winner the jackpot will keep climbing. With enough roll overs, it could reach the same record breaking heights the Powerball hit in January this year.

And data suggests that there’s every chance Mega Millions could do it.

Jackpots are based on ticket sales. Half of the money generated from tickets sales goes towards a prize pool which is split among the winners. A percentage of that money goes towards the jackpot. The more tickets sold, the more prize money is generated and so the size of the jackpot increases.

And then there are roll-overs. If a jackpot isn’t won, more money gets added to the jackpot through the next round of ticket sales. You can then conclude that bigger jackpots are the result of more people buying tickets. So the next question to ask is, why are more people buying tickets?

The answer lies in online lottery ticket concierge services. Every area of our modern lives has been touched by the internet in some way, so it’s no surprise that lotteries are also benefitting from this technology. Being able to purchase lottery tickets online has made huge difference to ticket sales.

You can now skip the queues and buy your lottery tickets from your laptop. The sheer convenience alone has prompted many more people to try their luck. And buying your lottery tickets online has distinct advantages. Aside from the fact that it makes it much easier to buy tickets, it also makes it easier to manage your winnings. The cash is deposited right into your account so you don’t have to do anything to claim your winnings.

You can use the money from previous winnings to purchase more tickets right away. But best of all is the subscription service. You never have to worry about missing a draw and you can select your preferred payment method. These online lottery services have turned occasional players into regular players thanks to the convenience they offer.

It also opens up lotteries to more international players. For many lotteries such as Mega Millions, you couldn’t buy a ticket if you weren’t a US citizen. But buying lottery tickets online has changed this for international lottery players who want access to American lotteries. With the strong dollar, the massive jackpots on offer are even more tempting to foreign players. The boundaries no longer apply and people are taking advantage of that fact.

Another factor that makes buying lottery tickets online is ease of payment. You can choose your preferred method of paying for your lottery tickets and winnings are just as quickly paid back to you. It makes whole process much easier than buying your tickets in the traditional manner. And that’s what more people are looking for; an effortless, streamlined lottery ticket experience that removes the boundaries.

This combination of access and variety has resulted in more people buying lottery tickets. And as a result, jackpots are getting bigger all the time. Although it may be a few years before billion dollar jackpots become the norm. But the proof is there that the global lottery market is on the increase. According to Research and Markets, lottery activity may increase to 8.85% by 2020. That’s only four years away.

There’s no doubt that the lottery sector has plenty of potential for growth. And as the sales of lottery tickets increase, so will the size of the jackpots. It already seems to be having an effect if the current Mega Millions jackpot is anything to go by.

Naturally, if the jackpots increase, more people will start buying tickets. It’s like a vicious circle but one that has advantages for all the players involved. Lotteries and the charities they support will benefit from the increased revenue. And players will win much bigger prizes. It’s a win-win situation.

If you’re tempted to buy your tickets online instead of from your local convenience store, here’s some advice. Be sure to purchase your tickets from a legitimate service. As with anything on the internet, it’s important to check the credibility of a website. Before you hand over your credit card details make sure the company has a physical address and proper contact details. Should you have a problem you’ll need to contact them for assistance.

In the meantime, this news is encouraging for those who already play lotteries such as the Mega Millions online. Keep a close eye on that jackpot and sign up for a subscription. It may not break through that $1 billion celling, but if there are more roll overs it could get very close.