ALBANY — The higher the risk, the higher the reward.

The price per Mega Millions ticket is set to increase from $1 to $2 on Oct. 28, though payouts for certain winning combinations will increase under regulations adopted by the state Gaming Commission last month. A notice of adoption appeared in Wednesday's state Register.

The change is going into effect for the Oct. 31 drawing.

The price change, which was announced earlier this year, also comes alongside modifications to the drawing itself.

According to information in the Register, instead of five winning numbers drawn from a field of 75 numbers, five will be drawn from a field of 70. Meanwhile, an additional winning number will no longer be drawn from a field of 15 numbers (the Mega Balls); instead, it'll be a field of 25 numbers.

As such, the odds of hitting the jackpot are going down. Currently odds are 1 in 258,890,850. They'll go to 1 in 302,575,350 after the changes.

The odds of hitting the second tier $1 million prize will go from 1 in 18,492,204 to 1 in 12,607,306.

Other changes, which were put forth by the multi-state consortium behind the game, include the minimum jackpot increasing from $15 million to $40 million, and payouts for hitting certain combinations of numbers are going up as well:

Four numbers from the field of 70 and the Mega Ball will net you $10,000, up from $5,000.

Three numbers from the field of 70 and the the Mega Ball will score you $200, up from $50.

Payouts for hitting three numbers from the field of 70, or two numbers from the field of 70 and the Mega Ball both will be increased to $10 from $5.

Hitting one number and the Mega Ball will be worth $4, up from $2.

The prize for hitting just the Mega Ball will increase with the price of the ticket to $2 from $1.

Other multistate lottery games (Powerball and Cash for Life) already cost $2 per ticket in the Empire State.

To play in-state games, it'll still cost you only a dollar and a dream.

mhamilton@timesunion.com • 518-454-5449 • @matt_hamilton10