Powerball jackpot climbs to $700 million

Posted at 11:52 AM, Aug 22, 2017
and last updated 2017-08-22 11:52:06-04

Wednesday night's Powerball jackpot has climbed to $700 million, making it the second-largest in U.S. history. 

The drawing will be Wednesday at 10:59 p.m. Eastern Time in Tallahassee, Florida. 

Five white balls will be picked from a drum with 69 balls and one red ball will be picked from a drum with 26 balls with millions of people hoping their numbers are picked. 

POWERBALL: Will some numbers increase your odds? 

Tickets are $2 and players can either do a quick-pick and let the computer pick their numbers or pick their own numbers for their ticket. 

The jackpot may be $700 million, but that refers to the annuity option, doled out in 30 payments over 29 years. Most winners pick the cash option, which will pay a cash prize of $443.3 million. 

The odds of winning the jackpot are one in 292.2 million.