In April, the price of a Mega Millions lottery ticket will rise from $2 to $5, a change that officials say will bring better odds, bigger prizes and more money for California public schools.

The price increase was driven by a desire to generate larger and faster-growing jackpots and to differentiate Mega Millions from other lottery games, Joshua Johnston, executive director of the Mega Millions Consortium, told The Times.

“Sales really ramp up around $700 million to $800 million (jackpots), and when they reach $1 billion, things really take off, so there’s obviously an appetite out there for these eye-popping jackpots,” Johnston said.

Mega Millions also adjusts the odds of winning – from one in 302.6 million – to something less astronomical.

Johnston said the exact details of the new odds would be released in February, but noted they would also include a reduction in the number of balls used in the draws. The adjusted Mega Millions odds are better than those for a Powerball win, which are currently 1 in 292.2 million, he added.

Additionally, Mega Millions adds a built-in multiplier to each ticket, automatically increasing non-jackpot winnings by 10x. And the game will eliminate break-even tickets, meaning that when a player wins, they always win more than the ticket costs.

“With the new game changes, we will create more billionaires because the jackpot will grow faster,” Johnston said. “And with this embedded multiplier, we will produce more millionaires every week because more money will be spent.”

Mega Millions and its lottery companion Powerball are sold in 45 states and overseen by the Multi-State Lottery Assn. There are currently no plans to increase the price of a Powerball ticket by $2, the association told The Times.

According to game officials, Mega Millions has produced six billion-dollar jackpot winners since its launch in 2002. Ticket prices increased from $1 to $2 in 2017 and since then the game has created more than 1,200 millionaires – an average of three millionaires per week.

According to Johnston, the amount raised through the sale of Mega Million tickets is expected to increase by 25% once the price increase is implemented.

A portion of the proceeds from all lottery ticket sales go to schools or other charities in each state. According to the California Lottery, in California, 40% of sales go to support public schools.

About 80 cents of every Mega Million ticket sold in California now goes to schools. In April, the amount will increase to around $2 per ticket, said Carolyn Becker, spokeswoman for the California Lottery.

“We believe this is a winning proposal for both our players and our mission to raise additional funds for public education,” California Lottery Director Harjinder K. Shergill Chima said in a statement. “With bigger jackpots growing even faster and better odds for players to win, we expect better sales for Mega Millions and, in turn, more money for schools.”

Becker noted that in California, the Mega Millions prize change is subject to approval by the California Lottery Commission at an upcoming meeting. However, she said she has “full confidence” the commission will agree the change is a good idea.