The Powerball jackpot has risen to an estimated $700 million after no ticket matched all six numbers—31, 59, 62, 65, 68 and red Powerball 5—in Wednesday night’s drawing. It is the biggest U.S. lottery prize so far this year and the 11th-largest in Powerball’s three-decade history. The top prize has rolled over 36 times since it was last hit on May 31, when a $204.5 million ticket was sold in California. Stronger sales have accompanied the climb; data from the Multi-State Lottery Association show Powerball revenue running about 40% ahead of the same point last year. A winner on Saturday, Aug. 23, will have the choice between the advertised annuity paid in 30 instalments or a lump-sum cash payment of roughly $316.3 million before taxes. Federal withholding would immediately trim the lump sum to about $240 million, with the final payout dependent on the winner’s marginal tax rate and state of residence. Powerball is offered in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Drawings are held at 10:59 p.m. Eastern on Mondays, Wednesdays and Saturdays. The game’s long odds—1 in 292.2 million—are designed to create the large jackpots that drive ticket demand. The record $2.04 billion prize was won in California in November 2022.