What Time Is The $650 Million Powerball Drawing?

Once again, there were no winning tickets for Saturday night’s Powerball drawing. With the lottery prize standing at an estimated $650 million, this jackpot could go down as the biggest prize in American lottery history.

The drawing for this week’s Powerball jackpot will happen Wednesday at 10:59 p.m. EST, according to the Multi-State Lottery Association. Ticket holders will be able to tune into local stations to watch the drawing live.

The winning Powerball numbers called on Saturday were 17, 19, 39, 43, 68 and the Powerball number was 13. Since no one claimed the winning ticket Saturday, the jackpot has increased from $535 million. The pot has been growing since June 10, after 21 consecutive failed draws.

The current jackpot ranked as the third largest U.S. lottery to date. The nation’s biggest pot totaled $1.6 billion in 2016, and three different ticket holders claimed the prize.

Winners can opt to receive their massive win fall a few different ways: through an annuity to be paid out over a 29-year span, or in a lump-sum. Either way, the winner gets charged taxes on their win fall.

If a winner opted to receive the lump sum, they'd gross $411.7 million. The federal government would claim 25 percent of the jackpot (foreigners get taxed 30 percent), which would leave the winner with either a one-time payment of $308.8 million or $16.25 million annually, according to USA Mega, a site that monitors Powerball statistics.

There has been a total of four Powerball winners in 2017, two of whom opted to remain anonymous. California resident Jeff Lindsay claimed the winning power ball ticket June 10 and chose to receive an annuity of $447.8 million, the seventh-largest jackpot in Powerball history.

"We are obviously thrilled with this tremendous stroke of good luck and are still getting our arms around what it means for us," Lindsay told Powerball June 10.

"We are private people and do not want to change who we are or become public figures and ask that people appreciate and respect our privacy," the family told Powerball. "In order to help manage what has already been a somewhat overwhelming process, we have engaged a number of financial, legal and other advisors to guide us and help us make the best decisions possible."

They added, "Once things calm down, we plan on working closely with our team of advisors to determine how to properly manage and invest this newfound wealth to ensure that we can support our family and causes that are important to us for many generations to come."

It’s worth noting that the odds of winning are considered low at 1 in 292 million. In fact, according to the National Weather Service, the chances of getting struck by lightning are considered higher at 1 in 600,000.