Will a free ticket win the big Powerball jackpot?

LAFAYETTE, Ind. (WLFI) - The Powerball jackpot is now at a record amount: $550 million. And the Hoosier Lottery gave 500 people in Lafayette a free chance at winning some serious cash.

There's a whole lot of hoping and dreaming going on, as numbers for the largest Powerball jackpot ever are getting ready to be picked.

"Hope. That's all we got in this world. Hope, faith and love,” Lafayette resident Albert Smock said.

"Just high hopes you know. I hope the best man wins,” Lafayette resident Aaron Brown added.

After rolling over six times from Oct. 6, this Powerball pot now sits at an unthinkable amount of money.

“The jackpot is a record high. A half-billion!" Hoosier Lottery Regional Sales Manager Carl Krisher said.

Wednesday morning Hoosier Lottery representatives handed out 500 free Powerball tickets at the Village Pantry on State Road 38.

And as soon as those free tickets hit the hands of Hoosiers, some said they felt anxious, yet hopeful they'll have the lucky ticket.

"Yes. Very hopeful. It only takes one!" Lafayette resident Teressa King said.

"Do I got that winning ticket? Is it close, maybe? Maybe not? It's just one of those things that anyone should expect to feel for their first time. You get ambitious. You feel anxious,” Brown said.

"The jackpot starts at 20 million dollars and every time it's drawn and no one hits that jackpot amount it increases for the next roll,” Krisher said.

With the Powerball jackpot already at a half-billion dollars, who can even imagine any more money? But if the winning ticket isn't picked on Wednesday, Saturday's drawing can be even more.

"There is no limit. It's an uncapped jackpot potentially,” Krisher said. “Again, a half-billion dollars is just crazy and almost unthinkable money, and it’s even harder to imagine it being even higher than that, but it's possible."

But until the winning numbers are picked, some Hoosiers say they'll just hold on tight to their ticket and hope it's the ticket to their wildest dreams.

The cash option is more than 360 million dollars.

Wednesday night’s drawing for the Powerball will take place at 10:59 Eastern Time.

Experts say the odds of winning are one in 175 million.