The lucky winner of Saturday's drawing could choose between the full jackpot paid in annual installments over 29 years or a one-time cash payment of $316.3 million before taxes, according to Powerball.

The jackpot was last won May 31, when a California player hit the $204.5 million grand prize. The biggest Powerball jackpot in history, worth $2.04 billion, was won in 2022 by a California player, the New York Times said. In the latest drawing, a ticket sold in Tennessee won $2 million. Tickets sold in Michigan and Oklahoma won $1 million each.

The Powerball jackpot has hit $700 million after no one matched all six numbers in the Wednesday, Aug. 20 drawing.