RESULTS: Winning Powerball Numbers For August 23, 2017: $700 Million Jackpot

Powerball fever is starting to sweep the nation once again as the jackpot has now soared to $700 million for Wednesday, August 23, 2017. This is now the second largest Powerball jackpot ever. Wednesday's drawing took place around 11 p.m.

The winning numbers are: 6-7-16-23-26 and Powerball 4.

The largest Powerball jackpot was $1.6 billion, which occurred back in January 2016. Saturday’s Powerball jackpot was the fifth largest and after no one captured the grand prize it ballooned to $700 million.

While no one won the grand prize on Saturday, August 19, 2017 numerous people won some cash, so check your tickets before you discard them.

• The winning numbers for Saturday, August 19, 2017 are: 17-68-19-43-39 and Powerball No. 13.
• Check back for the winning Powerball numbers for Wednesday, August 23, 2017.

Powerball Is Over $700 Million: Here's Why You Shouldn't Be Impressed

If you want to race out and buy the winning ticket for Wednesday’s big $700 million jackpot, find out where you can buy your Powerball tickets here, via the Connecticut Lottery website. Each ticket costs $2. Residents can purchase Powerball tickets until 10 p.m. on Saturday.

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Drawings are televised every Wednesday and Saturday at 10:59 p.m. on select Lottery draw stations.
The Powerball game is played by matching all five white balls in any order and the red Powerball number. The winning numbers for the Powerball drawing game are drawn from a field of one through 69 while the red Power Ball is drawn from a separate field of one through 26.

The odds of picking the correct Powerball grand prize numbers are one in 292,201,338.
The largest three Powerball jackpots up until now were:

• $1.6 Billion — January 2016
• $590.5 Million — February 2013
• $587.5 Million — November 2012

The record in the game was a $1.6 billion drawing in January 2016, which was won by a group of Tennessee workers. And five months ago, on Feb. 22, a lucky player in Indiana won the $435 million Powerball jackpot, the 10th largest in the game's history.

In the summer of 2016, a New Hampshire player won a $478 million prize; the June 10 win of $447 million was the eighth largest jackpot in the game's history.

If you still want to take a chance — someone has to win, right? — you have a better chance of hitting the jackpot if you let the computer pick your numbers. The Multi-State Lottery Association, which operates the Powerball game, says about 75 percent of winning tickets are selected when the numbers are chosen by a computer.

The lottery game is played in 44 states plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Powerball draws can be seen on hundreds of TV stations nationwide. It may also be available on cable or your mobile device. The draws are also posted on YouTube and on the Powerball site. Where to watch the Powerball drawing on TV.

Claiming, Safeguarding Winnings
So, what should you do if you win the big prize? Many lottery winners hire an attorney, financial planner or both, since most people don’t exactly know what to do when they suddenly come into so much money. Some even bring their lawyer with them to claim their prize. The lottery does not offer any counseling services or advice for winners.

You have two choices when you claim your prize: the full value paid in 30 installments over 29 years, or a one-time lump sum that is smaller than the actual total.

Then there are the taxes. The federal tax on lottery winnings is 25 percent. Then, any extra income taxes like state or city would apply.

Financial experts say that if you can get more than a 3 or 4 percent return on an investment, the lump sum is actually the best way to go in the long-term.

Patch Editor Deb Belt and Brian McCready contributed to this article.
»Patch file photo