Step 1

Preheat oven to 350F, line a 9x13-inch pan with foil for easier cleanup, and spray with cooking spray; set aside.

Step 2

To a large bowl, add the cake mix, eggs, water, oil, and mix on high-speed with a handheld electric mixer for about 2 minutes. Turn batter out into prepared pan and bake the cake for about 23 to 25 minutes, or a toothpick that's inserted in the center comes out clean.

Step 3

After taking the cake out of the oven, using the blunt end of a wooden spoon, poke about 75 holes evenly over the surface of the cake, poking nearly to the bottom of the cake; set aside.

Step 4

To a medium bowl, add the butterscotch topping, sweetened condensed milk, whisk to combine, and slowly and evenly pour over the surface of the cake. Run a spatula back and forth as necessary over the surface of the cake to encourage the mixture to sink down into the holes.

Step 5

Cover cake and place it in the fridge for at least 2 hours, or until chilled. For a make-ahead option, note that the cake will keep in the fridge for a couple of days before serving it.

Step 6

Before serving, evenly spread the whipped topping over the cake, evenly sprinkle with the toffee bits, and serve.