Winning Powerball Numbers, Aug. 23, 2017: $700M Jackpot 2nd-Largest Jackpot In History

Powerball fever has struck the nation again, this time coming with a $700 million jackpot. The numbers will be pulled Wednesday night, Aug. 23, at 10 p.m. central time. It's the second largest Powerball jackpot ever.

The winning numbers were announced Wednesday night: 6-7-16-23-26 with Powerball 4.

"To give an idea of how big that is, tonight's jackpot is high enough to buy everyone in Wisconsin 173 brats (but they have to supply their own buns and kraut)," said Wisconsin Lottery Directory Cindy Polzin, ABC7 reported.

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

You can find out where to buy tickets in Wisconsin at the Wisconsin Lottery website.

It's unfair not to remind readers how staggeringly low chances of winning are. There is a 1 in 292,201,338 chance of winning the jackpot. Even to win the minimum, with zero number matching except for the Powerball, there is a 1 in 39 chance to win the $4 prize.

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The largest three Powerball jackpots up until now were:

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

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.

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