Powerball jackpot rises to whopping $700 million

Last Updated: Wednesday, August 23, 2017, 8:27 AM EDT

It only takes one ticket to win, and winning this jackpot would be, well, pretty awesome.

  • Powerball jackpot rises to $700 million
  • Jackpot has rolled over for more than 2 months
  • Cash value of the jackpot at $443.3 million
  • CHECK YOUR NUMBERS: Visit our lottery page

The Powerball jackpot surged to $700 million on Tuesday ahead of Wednesday night's drawing, making it the second-largest in U.S. history.

The drawing will be Wednesday at 10:59 p.m. ET in Tallahassee. Five white balls will be drawn from a drum containing 69 balls and one red ball will be selected from a drum with 26 balls. To win, players need to have paid $2 for a ticket and either have chosen numbers or opted to let a computer make a random choice.

The jackpot has rolled over for more than two months. The largest Powerball jackpot was $1.6 billion in January 2016, which was split between three winning tickets.

A winner who chooses a cash payout would receive about $443.3 million.

The odds of winning are one in 292.2 million. Tom Rietz, a professor at the University of Iowa who researches probabilities, says one way to think about it is to envision the 324 million U.S. residents. Your chance of winning is roughly comparable to being that one lucky person out of the entire population, with everyone else losing.

Information from The Associated Press was used in this report.