Powerball jackpot climbs to $700M

BURLINGTON, Vt. (WCAX) The estimated jackpot for Wednesday night's Powerball game has hit $700 million. That makes it the second largest lottery jackpot in U.S. history.

The prize for Wednesday's drawing has grown so massive because it's been more than two months since the last jackpot winner, on June 10.

But as huge as $700 million jackpot sounds, it's still far less than the record $1.6 billion prize won by three people in January 2016.

That $700 million prize refers to the annuity option, which is paid out over 29 years. The cash option would be $443.3 million.

The odds of winning the Powerball jackpot are one in 292.2 million.