North Texas residents dreaming of a big win hope for $1.4 billion Powerball jackpot
Many Texas residents are hoping Wednesday is their lucky day because Powerball's estimated payout for the night's drawing is just about $1.4 billion.
"Right now, it's $0, but I'm hoping by midnight tonight it'll be worth a couple of million. Billion?" said Joseph Brown, who was buying tickets for himself and his wife. "If I had back all the money I spent, I could probably buy a new car. But hope springs eternal."
For Jeff Johnston, buying lottery tickets is something he does with his 91-year-old dad.
"He's just always been a numbers guy. I remember as a kid he gambled, poker player. This is his gamble," said Johnston.
If they win, Johnston's taking him on a boys' trip.
"I would love to take him to Alaska and fish. I've been there a few times and he's never been," he said.
Brown and his wife want to take care of their extended family with their hypothetical millions.
"First thing I would do is I'd pay off all the debt for all my family, all their homes, give everybody a clean, clear start," said Brown.
The Powerball jackpot has climbed to an estimated $1.4 billion after no one hit the top prize in Monday night's drawing. Players will get another shot on Wednesday at 10:59 p.m. ET.
At this size, it's the fifth-largest jackpot in Powerball history, with an estimated cash value of $634.3 million. The record jackpot was $2.04 billion, won on Nov. 7, 2022, according to Powerball.
Powerball jackpot winners may choose to receive their prize as an annuity, paid in 30 graduated payments over 29 years, or a lump-sum payment.
Whatever option you choose, the Internal Revenue Service takes a cut, but Texas does not.
A winner of the current jackpot in Texas could receive $820 million across 30 payments, or $371 million as a lump sum, after federal taxes, according to data from USA Mega.