Powerball climbs to $700M ahead of Wednesday night’s drawing

(Photo: WKRN)

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NASHVILLE, Tenn. (WKRN) – The jackpot for Wednesday night’s Powerball lottery has climbed to an estimated $700 million, making it the second-largest in U.S. history.

The drawing will be Wednesday at 10:59 p.m. Eastern Time in Tallahassee, Florida. 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.

Players have much better odds of one in 25 of winning a lesser prize. Those odds range from one in 11.7 million of winning $1 million for matching the five regular balls to one in 38 for matching the Powerball and winning $4.

Tickets must be purchased by 8:59 p.m.

The highest Powerball jackpot ever was $1.58 billion, which was won by a family in Munford, Tennessee.

They split the winnings with two other winners.

The odds of winning Wednesday’s jackpot are 1 in 292 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.

If you are wondering which numbers to play, News 2 found the most frequent winning numbers that have won at least eight times since the start of the year.

They are 5, 9, 32, 53, 62 and 63 with 9 being the most common winner. So far, the only number not to come up on the five picks is 34.

*The Associated Press contributed to this report.