Powerball jackpot grows to estimated $700 million for Wednesday night drawing

(NEW YORK) — The Powerball jackpot has risen to an estimated $700 million after there was no winner in Monday’s drawing.

The estimated cash value of the prize is $352.3 million, according to Powerball.

The next drawing is on Wednesday night at 10:59 p.m. ET. It’s one of two remaining Powerball drawings this year.

If a player wins the jackpot in Wednesday night’s drawing, they will have two prize options. One is annual payments worth an estimated $700 million — starting with one immediate payment and then subsequent payments over 29 years that increase 5% each year — or they can opt for a lump sum payment estimated at $342.3 million, Powerball said. Both options are before taxes.

There have been 32 consecutive drawings without a jackpot winner, Powerball said. The last jackpot was won on Oct. 11.

Wednesday’s potential prize is the fourth jackpot this year to exceed more than $500 million.

This year’s largest jackpot prize of $1.765 billion was won on Oct. 11 in California. The second largest prize this year of $1.08 billion was won on July 19 in California, according to Powerball.

Powerball tickets are $2 each play.

The odds of winning the jackpot prize are one in 292.2 million, Powerball said.

The game’s largest prize ever — $2.04 billion — was won on Nov. 7, 2022.

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