No Powerball winner; jackpot climbs to estimated $700 million

LOS ANGELES (KABC) -- The jackpot for Saturday's Powerball drawing has surged to an estimated $700 million after no one produced all the winning numbers to win Wednesday's $524 million jackpot.

The $700 million jackpot will be a record - and not just for Powerball. Lottery officials say it'll be the biggest jackpot for any lottery in U.S. history.

Although no ticket matched all six numbers Wednesday (47, 2, 63, 62, 11 and the Powerball of 17), one ticket sold at a Union City liquor store did match five out of six.

That'll mean $1.4 million for the lucky winner.

As for Saturday's jackpot, the estimated cash value is about $428.4 million before taxes, according to the Powerball website.

The final take-home amount depends on an individual's tax rate and the state and local taxes in their state of residence, Tracey Cohen, the interim executive director of the D.C. Lottery, told ABC News.

The largest lottery jackpot to date was won in three states in March 2012, when the Mega Millions

Powerball is played in 44 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

ABC News contributed to this report.
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