Bend retailers profit from $1.5 billion Powerball jackpot

We’re just a day away from the biggest Powerball drawing in history. As of Tuesday, the pot is 1.5 billion. Both seasoned and new Powerball players are taking advantage of the big jackpot.

Bend retailers we spoke with Tuesday estimate about a third of the customers purchasing Powerball tickets this week are first-time buyers.

Central Oregon retailers said they are profiting from the big jackpot. In Oregon. Lottery retailers earn a 5 to 10 percent commission for ticket sales.

Typically, customers spend $2 on Powerball, but this week they’ve been spending more. Officials at U.S. Market in Bend said people have been spending around 20 bucks on tickets this week. For each $20 ticket sale, the store earns between $1 and $2.

According to the Oregon Lottery, the average Oregon retailer sells about $115,000 of tickets each year, but with the $1 billion-plus jackpot, Bend retailers are expecting to make more.

“Usually, one in 10 people buy a ticket — now everybody’s buying a ticket,” said U.S. Market Manager David Varco.

In addition to the commissions, the lottery offers a prize payment to retailers of 1 percent on winning tickets, with a maximum prize of $100,000. Whatever lucky store sells the jackpot winning ticket will get a $100,000 bonus.

While retailers receive many perks from the lottery, there are costs associated as well. Retailers have to pay and train employers on the lottery games. The lottery also charges a one-time fee of $634 and a $73 monthly charge.

Despite the fees, retailers said it’s well worth it. It’s a win-win for stores and customers and a huge win for whoever takes home the 1.5 billion.

To play for the pot, you must purchase your ticket before 7 p.m. Wednesday evening. Then tune into KTVZ at 8 p.m. Wednesday to see the winning numbers.