SACRAMENTO, Calif. (KTXL) — Californians and people across the county have a chance at winning a life-changing amount of money Wednesday night.
The Powerball jackpot has increased to $700 million for Wednesday’s drawing, the fifth largest in history/ If anyone wins the jackpot, the cash amount for the winner is an estimated lump sum of $335.7 million.
The drawing increased to $700 from Monday’s drawing of $625 million. If no one hits the jackpot on Wednesday, the California State Lottery said it will increase to $800 this weekend.
The last time the Powerball jackpot was over $600 million was in January when two winners were announced, one in Sacramento and another in Green Bay, Wisconsin. The Sacramento and Green Bay winners each split the prize of a $632 million jackpot.
The largest jackpot in Powerball history is $1.586 billion.
The current Powerball sequence began with a jackpot of $20 million on Aug. 6 after someone in Pennsylvania won the $206.9 million jackpot three days prior. From Aug. 6 to Monday, Oct. 24, the prize has increased 35 times, according to the California State Lottery.
The largest prize to be won in California so far during the drawing’s current rollout is $2.595 million. That winning ticket was sold in Daly City and it matched five of the six winning numbers in a draw on Aug. 31.
From Aug. 6 to Oct. 24 drawing, over 48.7 million tickets have been sold in California and nearly two million of those tickets have been winners, culminating in $14.3 million in prizes, the lottery said.
Due to the growing jackpot, the lottery has raised an estimated $39 million for California’s public education in 79 days, the lottery said.
Retail stores that sell lottery tickets in California have earned an estimated $5.7 million in commission and bonuses since the current jackpot started in August. The lottery said over 23,000 retail stores have sold tickets in the state.
The deadline to buy tickets is on the night of the drawing at 7 p.m. Wednesday’s drawing is scheduled for 7:59 p.m.