Powerball $700 Million Jackpot: How Much Will Winner Get?

By BERT HOOVER First Posted: Feb 02, 2023 08:50 PM EST

After no winning tickets in the drawing on Wednesday night matched all six numbers, the Powerball jackpot soared to a staggering $700 million.

The game's website estimates the cash option value at $375.7 million.

The numbers selected on Wednesday were 31, 43, 58, 59, and 66. The red Powerball was 9, and the Power Play was 2x, Fox Business reports.

The next Powerball drawing is scheduled for Saturday at 10:59 p.m. ET.

Since November, the Powerball jackpot has yet to be claimed.

Seven Powerball jackpots were won last year, including the $2.04 billion jackpot that set a new record and was won by a single ticket in California on November 7.

Jackpot winners can receive their awards as a lump sum or an annuity. The Powerball winner will get 30 gradual payments over 29 years if the annuity option is chosen.

Powerball is played in 45 states, Washington, D.C., Puerto Rico, and the United States Virgin Islands every Monday, Wednesday, and Saturday.

How to Play Powerball?

Buying a lottery ticket is as easy as stopping by your local grocer, gas station, or convenience store.

Each entry into the Powerball drawing costs $2, and for an extra dollar, players can increase their odds of winning the non-jackpot prize by up to five times with the Power Play feature, according to Yahoo.

You need to find one matching number to get your prize. You can find the winning permutations here:

Matching the Powerball number: $4.
1 Winning number + Powerball number: $4.
2 Winning numbers + Powerball number: $7.
3 Winning numbers: $7.
3 Winning numbers + Powerball number: $100.
4 Winning numbers: $100.
4 Winning numbers + Powerball number: $50,000.
5 Winning numbers: $1 million.
5 Winning numbers + Powerball number: Grand prize.

Largest Powerball Jackpots in History

If Saturday's jackpot is won, it will surpass two California jackpots, including last year's $632.6 million pot shared with a Powerball winner in Wisconsin, to become the sixth-highest grand prize in Powerball history.

Listed below are the ten highest Powerball prizes ever won:

$2.04 billion - November 7, 2022; California
$1.586 billion - January 13, 2016; California, Florida, and Tennessee
$768.4 million - March 27, 2019; Wisconsin
$758.7 million - August 23, 2017; Massachusetts
$731.1 million - January 20, 2021; Maryland
Est. $700 million - February 4, 2023
$699.8 million - October 4, 2021; California
$687.8 million - October 27, 2018; Iowa and New York
$632.6 million - January 5, 2022; California and Wisconsin
$590.5 million - May 18, 2013; Florida

California already owns the record for the most jackpot Powerball winner. If a California player were to win the current jackpot, the state's advantage would only grow., per The Hill.

The $700 million Powerball jackpot is the 10th-largest U.S. lottery prize and is only $31 million shy of the ninth greatest, which was also won in 2021. The ten highest lottery prizes ever won in the United States are as follows:

$2.04 billion (Powerball): November 7, 2022; California
$1.586 billion (Powerball): January 13, 2016; California, Florida, Tennessee
$1.537 billion (Mega Millions): October 23, 2018; South Carolina
$1.337 billion (Mega Millions): July 29, 2022; Illinois
$1.35 billion (Mega Millions: January 13, 2023; Maine
$1.05 billion (Mega Millions): January 22, 2021; Michigan
$768.4 million (Powerball): March 27, 2019; Wisconsin
$758.7 million (Powerball): August 23, 2012; Massachusetts
$731.1 million (Powerball): January 20, 2021; Maryland
Est. $700 million (Powerball) - Feb. 4, 2023