Lottery players, your chance for millions is about to cost you twice as much.
The Multi-State Lottery Association, which administers the Powerball game, says the price of a single ticket will double to $2 beginning January 15.
"After 20 years at the same price and after watching scratch ticket sales take off with $2, $3, $5, $10, $20, and even $50 tickets, we are going to make the big jump," the association says on its website.
When the price increases, jackpots will start at $40 million, up from $20 million now, and will increase twice as fast, lottery officials say. The average jackpot is predicted to be $255 million, nearly double the current $141 million. The lottery association hopes that will increase sales.
"We know that most folks play for the big jackpots and this game will have more of those more often," it says on its website.
Officials say the odds of winning the jackpot will decrease slightly as the number of red balls, or powerballs, will decrease from 39 to 35.
They also say the pricier game should produce more millionaires, as second prize – for matching the five white balls without the powerball – increases from $200,000 to $1 million.
The Power Play option, which doubles all prizes except the jackpot, will remain, for an additional dollar on the ticket purchase, according to the lottery's website.
Powerball drawings are at 10:59 p.m. ET Wednesdays and Saturdays. Powerball is available in 42 states plus the District of Columbia and the U.S. Virgin Islands.
Officials say the cost of a single ticket for the MegaMillions game, drawn on Tuesday and Fridays, will remain at $1. Forty states plus the District of Columbia and the U.S. Virgin Islands participate in MegaMillions.