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It has been theorized that the ticket buying frenzies as the jackpot rises increases the likelihood of multiple winners sufficiently that the jackpot can never get large enough to give a ticket a positive expected value. If a player could ensure that he wouldn't have to split the jackpot, Mega Millions becomes a smart bet whenever the jackpot exceeds about $420 million, but this calculation doesn't account for the possibility of a split jackpot. In the Mega Millions multi-state lottery, jackpots are split equally among all winners who match all numbers.The Massachusetts lottery imposed purchase limits after it was discovered that their Cash Win-fail game had a positive expected value after a jackpot was rolled down to increase the payouts for lower level prizes.The value of a large progressive jackpot is very sensitive to the exact rules of the game, so be sure to understand them.

Larger jackpots increase the payouts and therefore the value of a ticket.

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