Powerball Winning Numbers for June 8, 2016: Watch Live Stream of $123 Million Jackpot – Drawing Time and Results

UPDATE - The Powerball numbers for June 8 are 12, 25, 37, 60, 69 and the Powerball is 20. Powerplay is 3x.

More than $120 million is at stake for Wednesday's draw of Powerball which is equivalent to about $81 million cash value for a winning bettor.

The Powerball website indicated that there was no winner for Saturday's number combination of 16-20-22-43-64-17, which had a $110 million jackpot prize. There were also no Match 5 Winners ($1 million) and Match 5 Power Play ($ 2 million) winners.

After the previous draw, the jackpot is now estimated to be $123 million or $81.8 million in cash value. More people are certainly encouraged to bet on the Powerball draw for Wednesday because of the rewarding jackpot prize.

In Oregon alone, the sales for lottery tickets of Powerball has helped public schools, state parks and other beneficiaries of lottery games in the state. It was highlighted that the ticket sales for the first three months has surged to $11.8 million

"Powerball sales won't be as big simply because we don't have the luxury of that jackpot," said lottery spokesperson Chuck Baumann. Experts claim that the higher the jackpot prize, the more people buying tickets for the lottery game.

This is not only rewarding for winning bettors but also to beneficiaries of these lottery games. Portions of the earnings are allocated for education, economy and development of parks in the state.

For those who want a shot at winning millions of dollars, the mechanics are easy. Simply buy tickets worth $2 and bet on six lucky numbers. A person wins when all five numbers from the white balls and one number from the red balls matches the draw results in no particular order.

In case a person wins the jackpot, he or she can choose to receive it in separate annual payments in a span of 29 years. There is also the option of a cash lump sum payment but minus the tax.

Powerball explained that if a winner will choose to get the money in an annual basis, there is a great chance that the amount per year could increase by about 5 percent because the uncollected amount will be invested.

A $1 million second prize can also be won by getting all five white numbers. The amount will be paid in cash with no option to get it in tranches.

There are also other ways to win a prize aside from the jackpot. The game has the so-called Power Play which is an $1 add-on for the Powerball ticket giving gamers the chance to get an amount bigger than what they originally won.

Powerball advises its bettors to key in their number combinations an hour before the scheduled draw so that their bets will be included on the draws scheduled every Wednesday and Saturday at 10:59 p.m. A livestream of the draw can be watched through this link.