All Eyes on Lotto

C-stores will be paying attention to the Powerball drawing tonight.

October 09, 2023

After no one selected the winning numbers for Saturday’s drawing, the Powerball jackpot is up to $1.55 billion for the drawing tonight, October 9. If the prize is won in its entirety, this will be the fourth largest jackpot ever in the United States.

 The drawing tonight has an estimated cash value of $679.8 million. According to CBS News, the Lottery states that the chances of winning the jackpot are one in 292.2 million.

No one has won the Powerball since the $1.08 billion jackpot in July, the largest jackpot in 2023. The largest jackpot in U.S. history was a Powerball jackpot of $2.04 billion in November 2022, and the largest Mega Millions jackpot was $1.54 billion in October 2018.

Lottery tickets are sold at approximately 216,000 retail locations. Of the country’s 150,174 convenience stores, an estimated 80%—approximately 120,000 c-stores—sell lottery tickets, meaning that convenience stores are the top retail channel for lottery sales. Sales of lottery tickets peak at the beginning of the evening rush hour.

“The lucky store” that sells the winning ticket often sees an increase in customer traffic for weeks to months after selling the drawing.

Stores that sell winning tickets receive bonus commissions, but the size of these large jackpot bonuses vary by state. In some states, these bonuses are capped at a certain level (as low as $10,000), while in other states they are a percentage of the total payout, as much as 1%. In 2022, the average convenience store earned $2,355 per month in operating income from lottery, which includes commissions and bonuses.

Pride Stores in Massachusetts gave its $50,000 commission from a 2017 jackpot to charities and non-profits, including giving more than 20 teachers $1,000 checks to buy classroom supplies. Listen to the story on the Convenience Matters podcast here.