Watch CBS News

Powerball Jackpot Up to $500M For Wednesday's Drawing

CHICAGO (CBS) -- The third largest Powerball jackpot has lottery players dreaming of what they'd do with their millions. It has been more than two months since anyone has won the Powerball jackpot, so the top prize money has rolled over to $500 million.

WBBM Newsradio's Bernie Tafoya has been out talking with potential millionaires.

Jerry O'Connor, an electrician, and three of his friends have put in $5 each to buy Powerball tickets.

"It'll go a little ways," O'Connor said of the $337.8 million lump sum payment a single winner would get, before taxes.

Aaron Blalock said he plans to buy two tickets, and if he wins, he'll buy a home and travel, but he'd continue to work, "just to have something to do."

"I mean, I wouldn't be doing no strenuous work. I'd probably be sitting down in an office somewhere," he said.


Beverly Dorsey was excited about the $500 million jackpot, even though she's not buying a ticket herself.

"Phenomenal. We'll see what happens. Good luck to everybody," she said. "I don't know, I'm not rally good with lottery. My sons will get tickets. My husband will get tickets. They'll share."

If an Illinois player were to be the sole winner, and take a lump sum payment, they'd have about $240 million left after federal and state taxes.

Unfortunately, the odds of winning are about 1 in 175 million.

The largest Powerball prize ever was a $591 million jackpot in May 2013. The second largest was a $588 million prize in November 2012.

Wednesday's Powerball drawing is at 9:59 p.m. Sales are cut off an hour before that.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.