Feeling lucky? $700 million Powerball jackpot could be yours

There are worse ways you could spend $2 before Wednesday evening.

With the purchase of a Powerball ticket, at least you have a 1 in 292.2 million chance at winning a $700 million jackpot.

On Tuesday, lottery officials announced the Powerball jackpot had grown to $700 million – the second-largest in Powerball history. The drawing is Wednesday evening.

Winners have the option to cash it all out at once – at a significantly smaller total – or have the full $700 million doled out in equal payments over 29 years.

If you take the cash option – as nearly every winner does – Wednesday’s jackpot would amount to $443.3 million.

Then you have to worry about taxes – you’ll pay 25 percent of your winnings to the federal government and 5 percent to the state of Kansas.

You could do a lot of things with your jackpot winnings – like float a luxury yacht in Cheney Lake or pay the Wichita Symphony Orchestra to play for your dinner every night.

While $700 million seems like a lot (and it truly is), it’s a far cry from the $1.5 billion grand prize split between three winners in January 2016.

In that drawing, two Kansas lottery tickets won $1 million.

This time, that could be you.

This story was originally published August 22, 2017 at 11:49 AM with the headline "Feeling lucky? $700 million Powerball jackpot could be yours."