Stores all over the country were packed today and the website crashed just before tonight's draw as punters scrambled to buy last minute tickets.
There were just 1 in 3.8 million odds of winning the $40 million but Kiwis opened their wallets widely for the draw, with some punters spending thousands of dollars each on tickets - including one who shelled out $10,000 on tickets.
Lotto New Zealand chief executive Wayne Pickup said it was shaping up to be a record-breaking week for Lotto sales, with more than 2000 tickets sold every minute from midday today.
The jackpot went to a must-go $40 million, after failing to be struck at $34 million on Wednesday and $30 million last Saturday.
Kiwis went Lotto crazy as the jackpot soared, purchasing more than 1 million tickets for both last Saturday and Wednesday's draws, compared with a normal draw's sale of about 750,000 tickets.
Only one Powerball player has ever won more than $30 million - a self-proclaimed Auckland "Westie" who took home $33 million in September 2013.
Punters for the $40 million jackpot had big dreams if they won the jackpot - including including dream holidays, new palatial pads and stress-free non-work lifestyles.
But in an unscientific poll run by nzherald.co.nz on Friday, Kiwis voted for paying off debt before spending big.
Lotto presenter Sonia Gray also indicated she'd take a sensible approach if she won the windfall.
"I'd help friends and family and make a little dent in our homelessness crisis," she told the Herald.
The 11-year Lotto presenting veteran was behind the counter at West City Lotto in the Auckland suburb of Henderson this morning.
Gray said she had been "feeling the buzz" and was even asked to kiss and rub a few tickets.