LITTLE ROCK, Ark. (KTHV) – The Powerball jackpot for Wednesday night’s drawing is edging up towards $1 billion. It has been bumped up today to $700 million, making it the second largest jackpot in Powerball game history and the second largest among lottery jackpots in North America.
This $700 million Powerball jackpot ranks second only to the world-record jackpot of $1.586 billion in January 2016.
The August 23 drawing will be the 21st drawing since the jackpot was last hit on June 10 in California. A person bought a Powerball ticket in Lake Village for last Saturday’s drawing and won $200,000 by having the Powerball number along with four out of the five numbers with the Power Play® Multiplier. The winner has not claimed the prize yet.
“Any player who matches all five numbers and the Powerball in tomorrow’s drawing will have to decide between the annuity option of an estimated $700 million (30 payments over 29 years) or a lump sum payment of an estimated $443.3 million,” said Arkansas Scholarship Lottery Director Bishop Woosley.
Woosley said more than $85 million has been won by players buying Powerball tickets in Arkansas since the state’s lottery’s inception in 2009. One Arkansan won a $25 million Powerball jackpot in 2010 before the starting jackpot was increased to $40 million. That winner took the cash lump sum payment of $12,153,621. A Powerball ticket worth $2 million was sold at the Kum & Go store in Van Buren on July 15.
“As always, we encourage players to play responsibly. It only takes one ticket to win. Pool play is very popular with big jackpots, and this reinforces the community aspect of playing Powerball with your friends and coworkers,” Woosley said.
Every lottery ticket players buy helps fund scholarships for Arkansas students. However, a higher percentage of profits from jackpot draw games like Powerball and Mega Millions and Natural State Jackpot goes to scholarships, which means, even more, financial help for Arkansas students, Woosley added.
Powerball is a multi-state jackpot game. Drawings are held at 9:59 p.m. (Central Time) every Wednesday and Saturday in Florida. Five numbered balls are drawn from 1 to 69 and one numbered ball is drawn from 1 to 26. If all your numbers match those that are drawn, you win the jackpot, which starts at $40 million and grows until someone wins.
If other players also match all six numbers, the prize will be shared in equal amounts. Each Powerball play is $2. For an additional dollar, players can add the Power Play option to multiply non-jackpot winnings by 2, 3, 4, 5 or 10 times except for the Match-5 prize, which is set at $2 million.