$700 million Powerball drawing could set a record

Lottery officials say the grand prize for Wednesday night's drawing has reached $700 million - the second-largest on record for any US lottery game.

When no one hit the Powerball jackpot on Saturday, the total winnings climbed to a massive $700 million for Wednesday night's drawing. The drawing will take place at 10:59 Tallahassee, Florida. The deadline to buy tickets is at 9:59 p.m.

The jackpot can be paid in a lump sum or in annuity of 30 annual payments that increase over time.

People seem undeterred by the approximately one in 292 million odds of winning. "One number doesn't win the jackpot, a set of numbers does", says Lustig. The prize pool has been growing since the last time somebody won on June 10.

COEUR d'ALENE — Eugene Stanton has lottery fever, and that feels like $700 million.

"It's fun watching their eyes get all insane when you tell them that it's up to $700 million", he said. "I just had someone today buy $36 worth of tickets".

Wednesday's jackpot is estimated to top $700 million but that is still a long way from matching the record Powerball jackpot of $1.6 billion.

"I've always played the lottery for happy thoughts", he said.

The odds of a ticket having all six winning numbers do not change no matter how big the jackpot is. The $50,000 prize has 1 in more than 913,000 odds.

The Lancaster Barnstormers announced they will be giving away Powerball tickets with randomly generated numbers to the first 1,000 fans 18 years and older at their doubleheader Wednesday evening.

The reason why the current Powerball prize pool has reached $700 million is because there have been 21 straight Powerball drawings without a victor. Some of the nation's biggest states, including California and Texas, don't assess state taxes on lottery prizes, so winners in those spots would be just a bit richer. And Power Play allows a victor to potentially double, triple, quadruple, or even quintuple the lower-tier prize amounts for just an additional dollar.

Lottery tickets costs $2 to play.

Canadians willing to cross the border can purchase a ticket as a "tourist", according to the Powerball website.

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