Wednesday’s Powerball jackpot has just been updated to a projected $700 million, an increase of $15 million from what had previously been advertised.
This is the fourth Powerball jackpot this year to exceed half a billion dollars, and there have been 32 consecutive drawings with no top prize winner.
This jackpot has been growing since mid-October, and as of 9 a.m. Wednesday, the California Lottery raised approximately $50.8 million for public schools just from Powerball sales alone.
Should someone hit the jackpot Wednesday, they’ll have the choice between taking 30 annual payments totaling up to the jackpot amount or they can take the lump sum cash value, which is now estimated to be $352.3 million. The cash value represents the final total supported by Powerball sales in every state and jurisdiction where the game is played.
Powerball tickets are $2 each, and the draws happen three times a week on Mondays, Wednesdays, and Saturdays at 7:59 p.m.
