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Powerball jackpot climbs to $725 million, the 8th largest prize of all time

At the next drawing Saturday night, Powerball players have a 1 in 292.2 million chance of raking in the big money.
A woman fills in Powerball lottery tickets inside a store
A woman fills in Powerball lottery tickets inside a store in Homestead, Fla., on July 19.Giorgio Viera / AFP via Getty Images file

One lucky Powerball player stands a chance of becoming $725 million richer this weekend.

After no tickets matched all six numbers from Wednesday's drawing, the Powerball jackpot rolled over once again to become the 28th drawing in this jackpot run. It's the eighth largest prize of all time, and the third largest prize this year.

Saying the odds of winning the jackpot are slim would be an understatement — about 1 in 292.2 million. You are more likely to be killed by an asteroid impact, according to the Economist.

The numbers drawn Wednesday were 16, 27, 59, 62, 63, and Powerball 23.

Powerball tickets, sold at $2 each, require purchasers to pick five numbers from 1 to 69, and a Powerball number from 1 to 26. A jackpot requires all six chosen numbers to match those drawn, but players also stand a chance of winning smaller prizes if they have other matching combinations.

Although nobody took home the grand prize Wednesday, more than a million tickets across the country won a prize of some kind. That included two tickets sold in Georgia and Texas matching all five white balls. Each of those won $2 million prizes with the Power Play prize multiplier feature.

The next Powerball drawing will be held at 10:59 pm ET Saturday. The jackpot winner can choose to either receive one immediate lump sum payment of $345.7 million, or the full sum in installments over 29 years.

The previous jackpot was won by a ticket in Los Angeles on July 19, where someone won $1.08 billion. A $2.04 billion jackpot last year, the largest of all time, was won by Edwin Castro in California. He chose the lump sum payment.