2 Powerball Tickets Worth $50K in Maryland: Check Your Numbers

The Powerball jackpot — all $429.6 million of it — was snagged by one lone ticket in New Jersey. But two Maryland residents walked away with $50,000.

Eleven tickets in the state won $200. There were more than 73,000 prize-winning tickets in Maryland, according to Powerball officials.

The winning Powerball numbers for May 7, 2016:

• 05-25-26-44-66, with a Powerball of 09

The $429.6 million winning ticket was sold in Mercer County, N.J., according to New Jersey Lottery officials. The location will not be disclosed until security procedures are completed, likely Monday.

The Powerball jackpot resets to $40 million for the next drawing to be held Wednesday, May 11 at 11 p.m.

In January, the Powerball jackpot climbed to $1.6 billion, the highest it's ever been. Three people from California, Tennessee and Florida ended up cashing in on the jackpot.

So how does Powerball work?

Tickets are sold for $2 in 44 states, including New Jersey, Pennsylvania, plus the District of Columbia, Puerto Rico and the Virgin Islands. The jackpot starts at $40 million and increases after each drawing if there isn't a winner.

The record jackpot went from $355 million to $1.6 billion in three drawings.

Players pick five numbers from one to 69 and a sixth Powerball number, one through 26. (Most people just choose to get random numbers.) There are various levels of payouts, but to win the ultimate jackpot, you have to match all five numbers plus the Powerball.

The odds of that happening? Just 1 in 292,201,338. In other words, don't cash out your kids' college fund to buy tickets.

A winner can pick two ways to claim their prize. The first is an annuity that is paid out 30 times over 29 years. The second is an immediate cash payout that is available immediately but is significantly less money than the total jackpot.

Includes reporting by Marc Torrence and Tom Davis