• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026
FinancePowerball

Record $1.5 Billion Powerball Jackpot Fuels Ticket-Buying Mania

By
Reuters
Reuters
and
Aaron Task
Aaron Task
Down Arrow Button Icon
By
Reuters
Reuters
and
Aaron Task
Aaron Task
Down Arrow Button Icon
January 13, 2016, 3:58 PM ET
US-LOTTERY-POWERBALL-LIFESTYLE
A man purchases a Powerball lottery ticket at a convenience store in Washington, DC, January 7, 2016. Lottery officials predict Saturday's jackpot will reach $700 million, the largest in history. AFP PHOTO / SAUL LOEB / AFP / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)Photograph by Saul Loeb — Getty Images

Dreams of quitting an uninspiring job, helping the needy and traveling the world opened American wallets on Wednesday for a chance to win the biggest-ever $1.5 billion Powerball lottery jackpot.

The frenzy to buy tickets was expected to push the largest-ever U.S. lottery prize even higher by the time the six winning numbers are picked at the drawing at 10:59 p.m. EST (0359 GMT) on Wednesday. It is the world’s largest potential prize for a single winner.

The jackpot is worth nearly $930 million if a winner chooses an immediate cash payout instead of annual payments over 29 years, according to the Multi-State Lottery Association. Powerball is played in 44 states, Washington, D.C. and two U.S. territories.

If no one holds the winning numbers, the jackpot will be rolled over for Saturday’s drawing, pushing the annuitized prize to an estimated $2 billion, with a cash value of $1.24 billion, said Kelly Cripe, spokeswoman for the lottery in Texas, one of the participating states.

“If I win, I’ll give it all away to poor people,” said New York restaurant deliveryman Osman Gamie, 43, after buying a dozen of the $2 tickets at a midtown Manhattan grocery.

“I don’t like to live like the rich man – too many headaches,” said Gamie, a new U.S. citizen from Bangladesh.

The ticket-buying mania was expected to reach a rate of $1.3 million per minute during the evening commuter rush hour, Gary Grief, executive director of the Texas lottery, said at a news conference.

Powerball sales are “exponentially higher” than normal, Grief said. Since the jackpot was last hit on Nov. 4, 2015, a total of $2.65 billion in Powerball tickets have been sold, including $133 million sold on Wednesday by midday, Grief said.

Odds of picking a winning combination are 1 in 292 million.

For every $1 worth of Powerball sales, 50 percent goes to prizes, 40 percent to causes such as education, and 10 percent to retailers who sell the tickets and other administrative costs, Grief said.

“It’s amazing; it’s crazy,” said Milwaukee Wal-Mart worker Juan Galindo, 41, who sought to pump up his luck by purchasing tickets at three different locations in Wisconsin over the past two days. The father of two said winning would allow him to build his dream house.

In New York, a steady stream of lottery ticket buyers braved some of the most frigid temperatures so far this winter and flowed into the tiny grocery store in midtown Manhattan.

Tatiann Cave, a 23-year-old home health aide, said she would use the jackpot to start her own cosmetics business. She has been using her mother’s kitchen in New York to cook up test batches of products she dreams of selling under the name “Black Goddess.”

“I’d like to quit my job and do something inspiring,” Cave said.

About the Authors
By Reuters
See full bioRight Arrow Button Icon
By Aaron Task
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current price of Bitcoin for June 12, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 12, 2026
By Joseph HostetlerJune 12, 2026
2 hours ago
Current price of Ethereum for June 12, 2026
Personal FinanceEthereum
Current price of Ethereum for June 12, 2026
By Joseph HostetlerJune 12, 2026
2 hours ago
Top CD rates from major banks June 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 12, 2026
2 hours ago
Current price of gold as of June 12, 2026
Personal Financegold prices
Current price of gold as of June 12, 2026
By Danny BakstJune 12, 2026
2 hours ago
Current price of oil as of June 12, 2026
Personal FinanceOil
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
2 hours ago
Price of silver for June 12, 2026
Personal Financesilver
Current price of silver as of Friday, June 12, 2026
By Joseph HostetlerJune 12, 2026
2 hours ago

Most Popular

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
1 day ago
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
5 hours ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
3 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.