Powerball jackpot jumps to estimated $700M
Next Powerball drawing set for Saturday night
Jackpot CEO Akshay Khanna reveals how the startup plans to disrupt the $100 billion lottery market on 'The Claman Countdown.'
The Powerball jackpot spiked to a whopping $700 million after no winning tickets matched all six numbers in Wednesday night's drawing.
The estimated cash option value is $375.7 million, according to the game's website.
Wednesday's numbers drawn were 31, 43, 58, 59, and 66. The red Powerball was 9 and the Power Play was 2x.
The next drawing is slated for Saturday at 10:59 p.m. ET.
POWERBALL WINNING NUMBERS DRAWN FOR WEDNESDAY'S $653M JACKPOT
George Hollins buys a Powerball ticket at the Shell Gateway store in Boynton Beach, Florida, on March 26, 2019. (Joe Raedle/Getty Images / Getty Images)
The Powerball jackpot hasn't been won since November.
There were seven Powerball jackpots won last year, including the world record $2.04 billion jackpot that was hit by a single ticket in California on Nov. 7.
Joe Chahayed, owner of Joe's Service Center in Altadena, California, works at his business on Nov. 9, 2022. Chahayed received $1 million from the California Lottery for selling the $2.04 billion Powerball ticket at his gas station mini-mart. (Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images / Getty Images)
In August 2021, Powerball added a third weekly drawing to help increase jackpots faster.
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The odds of winning a prize are 1 in 24.9, and the odds of winning the jackpot are 1 in 292.2 million.
A person plays the Powerball lottery at a 7-Eleven store in Milpitas, California, on Nov. 7, 2022. (Tayfun Coskun/Anadolu Agency via Getty Images / Getty Images)
Jackpot winners can either select their prize as an annuity or a lump-sum payment. If the annuity option is selected, the winner is guaranteed to receive 30 graduated payments over 29 years.
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Powerball is played on Monday, Wednesday and Saturday in 45 states, along with Washington, D.C.; Puerto Rico; and the U.S. Virgin Islands.