Powerball Jackpot Increases to $700 Million

Fueled by strong sales nationwide, the new Powerball jackpot estimate for Wednesday has been increased from $650 million to $700 million annuity, with a cash option of $443.3 million. That’s the second largest jackpot of any lottery game in U.S. history.  Only the $1.586 billion Powerball jackpot in January 2016 was larger.

No ticket matched all numbers in Saturday’s drawing, setting the stage for another buying frenzy by Powerball players trying to “win the big one.” Wednesday will mark the 21st drawing since the Powerball jackpot was last won June 10 in California.

If the jackpot were to be won by a single ticket sold in Kansas, and the winner took the cash option of $443.3 million, he or she would receive a payment of approximately $310.3 million, after the Lottery withheld federal (25%) and state (5%) income taxes on the prize.

Donald Damon of Great Bend won a $96.6 million Powerball jackpot in November 2009 and remains Kansas’ largest Powerball winner. The largest Mega Millions jackpot ever hit in Kansas was one third of a $656 million jackpot in March 2012.  So far, Kansas Lottery players have won a total of 11 Powerball jackpot winners, 8 Lotto America (Powerball’s predecessor) jackpots, one Mega Millions jackpot and 6 Hot Lotto jackpots.

The Kansas Lottery reminds players that hitting the jackpot isn’t the only way to win a prize in Powerball. There are eight other ways to win a Powerball prize, from winning $1,000,000 for matching the first five numbers, to $4 for matching just the Powerball.  Plus, if you purchase Power Play for an extra $1 per play, you can multiply most prizes by 2, 3, 4 or 5.