The Virginia Lottery is holding its third New Year's Millionaire Raffle.

The raffle will produce three $1 million winners, six $25,000 winners and 300 prizes of $500.

Tickets are $20 each and will be sold until late in the evening Dec. 31 or until all 330,000 tickets are sold. The winners will be announced at 2 p.m. Jan. 1.

The Virginia Lottery says the raffle has been scaled down from the last two New Year's holidays, when 440,000 tickets were offered and four $1 million prizes were awarded. However, the odds of winning remain the same: 1 in 110,000, provided all tickets are sold.