Winning Powerball Numbers Aug. 23, 2017: $700M Jackpot

(UPDATED) METRO DETROIT, MI — The numbers in Wednesday’s $700 million Powerball jackpot have been drawn: 6, 7, 16, 23, 26 with a Powerball of 4.

It is the second largest jackpot in history. It has been 20 drawings since someone matched all the numbers and won the jackpot. It’s unknown if any players matched tonight’s winning numbers.

Sales were brisk at a Novi 7-Eleven Wednesday evening. Owner Viktorr Dedvukaj said players were streaming in at a steady pace to his Meadowbrook Road store.

“Once it gets to $500 million,” he said, “it’s a big deal. At that point, people start noticing and want to come out here. Today has been crazy, just because it’s $700 million.”

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About 200 extra people a day have visited his store to buy Powerball tickets, Dedvukaj said. “It’s huge for us,” he commented. “If you’re expecting 1,000 people and 1,200 or 1,300 show up, it’s huge. It’s a bonus for everyone for sure.”

While nobody has hit the Powerball jackpot with a ticket from his store, Dedvukaj said two people have won $250,000 playing the Mega Millions game. He and his wife, Holly, have owned the 7-Eleven since 2005.

Wednesday’s jackpot was huge, but pales in comparison to the largest Powerball jackpot of all time. A record $1.6 billion was won in January 2016.

Each Powerball ticket costs $2. Find out where you can buy your Powerball tickets here. The Powerball game is played by matching all five white balls in any order and the red Powerball number. The odds of picking the correct Powerball grand prize numbers are one in 292,201,338.

A total of 44 states, plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands, that participate in Powerball. Powerball drawings are held every Wednesday and Saturday at 10:59 p.m. Eastern time.

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 our 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.

Photo by Scott Daniel (Patch Staff)