Columbia, SC (WLTX) -- Wednesday night's Powerballl jackpot is projected to be at or over $400 million dollars.

The odds of winning the Powerball jackpot are about 1 in 176 million, and if a person matches all five white ball numbers and the red Powerball number, they have the option to take a one-time cash payout of $223 million.

Wednesday's jackpot, the 4th largest in Powerball history, is just the latest in a string of supersized lottery payouts over the last year. Previous highs included $448 million last month, $590 million earlier this spring, and in November of last year topping $587 million.

According to officials with the South Carolina Education Lottery, big jackpots like Wednesday's will provide an additional $3 to $5 million in funds to support education in the state.

Watch the drawing Wednesday night just before 11PM on News 19 WLTX.