How Much Money Is In The Powerball Jackpot

The Powerball jackpot is at an estimated $236 million.

Another big jackpot drawing is just around the corner.

On Wednesday, Powerball will draw for an estimated jackpot of $236 million, or $161.1 million cash value.

Want to get in on the action? Here's everything you need to know before Wednesday's drawing.

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How to play Powerball

When are the drawings?

Powerball drawings are held at 11 p.m. Wednesdays and Saturdays.

What are the chances that you'll win?

There is a 1 in 24.9 chance of winning any of the prizes when the advertised jackpot is $40 million and it stays the same the larger the pot gets.

Odds of winning the jackpot, however, is 1 in 292.2 million, and the odds of winning $1 million are 1 in 11.7 million.

How much does it cost?

Powerball costs $2 per play.

In Kentucky, $1 gets you a power play, which will multiply your Powerball winnings, as long as it isn't the jackpot. So if you win $100 and the power play is 3, you win $300.

Where do you buy tickets?

In Kentucky, Ohio and Indiana (and most other states), you can buy a Powerball ticket at local gas stations, convenience stores and supermarkets. In Ohio, polls close at 10 p.m.

In Kentucky, players can also get tickets online on the Kentucky Lottery website, www.kylottery.com.

How do you pick numbers and which ones do you pick?

Select five numbers from 1 to 69 for the white balls; then select one number from 1 to 26 for the red Powerball.

Choose your numbers on a play slip or let the lottery terminal randomly pick your numbers.

Here's what you need to win

Players win a prize by matching one of the nine ways to win:

5 + Powerball = jackpot
5 + no Powerball = $1 million (If you opt for the powerplay, the max prize is $2 million)
4 + Powerball = $50,000
4 + no Powerball = $100
3 + Powerball = $100
3 + no Powerball = $7
2 + Powerball = $7
1 + Powerball = $4
0 + Powerball = $4

What do you get when you win?

A Powerball jackpot winner may choose to receive their prize in 30 payments over 29 years or a lump-sum payment.

If the annuity option is selected, the winner is guaranteed to receive 30 graduated payments over 29 years. The annual payments increase by 5% until the 30th and final payment.

The 30 payments added up equal the value of the annuity.

Federal and jurisdictional income taxes apply to both jackpot prize options.

What to do when you win

Prizes must be claimed in the jurisdiction where the winning ticket was purchased, within a certain number of days.

Players can generally claim a prize up to $600 at any licensed lottery retailer in the jurisdiction where they bought the ticket. Prizes over $600 can be claimed at some lottery offices and at lottery headquarters.