Powerball jackpot jumps to $1.7 billion after another drawing with no big winner

The rollover means one lucky player could be in line to receive a life-changing windfall during the holiday season

The Powerball jackpot jumped to an estimated $1.7 billion ahead of Wednesday’s Christmas Eve drawing, making it among the largest prizes in the lottery’s history.

The increase occurred after no ticket matched all the numbers Monday, which marked a record 46th draw since its last jackpot was claimed

The winning Monday numbers were 3, 18, 36, 41 and 54, with a Powerball of 7. While nobody won the jackpot, tickets worth $1 million were sold in Florida, Georgia, Illinois, New York, Ohio, Pennsylvania, Tennessee and Wisconsin.

The rollover means one lucky player could be in line to receive a life-changing windfall during the holiday season.

The Powerball jackpot is set to climb to $1.7 billion for its Christmas Eve drawing. (Getty Images)

A winner can choose to be paid the whole amount through an annuity, with an immediate payment and then annual payments over 29 years that increase by 5 percent each time.

Winners almost always opt for the up-front cash value, however both eye-popping figures are before taxes.

The odds of winning the Powerball jackpot are about 1 in 292.2 million, according to the lottery.

Lottery officials made the odds tougher in 2015 to create these humongous jackpots and draw more attention, while also making it easier to win smaller prizes.

Matt Strawn, who chairs the Powerball Product Group, said in an interview that nothing special predated back-to-back billion-dollar jackpots this year other than the odds of the game.

The last time someone won the Powerball top prize was on September 6. (AFP/Getty)

The last time someone won the Powerball top prize was on September 6, when players in Missouri and Texas won $1.787 billion - the second-highest jackpot in U.S. lottery history.

Speaking ahead of Monday’s draw, Tim Chartier, a Davidson College math professor, said he's never bought a lottery ticket despite knowing those odds inside and out.

“Picking a winning lottery ticket is equivalent to selecting one marked dollar bill from a stack 19 miles high - roughly the height of more than 115 Statues of Liberty,” or 30km, Chartier said.

“If you have the funds and you enjoy dreaming about a billionaire life, enjoy the ride. Of course, you could win,” Chartier said.

“But when the numbers don’t fall your way, recognize that the odds were never in your favor - and that the twinkle of possibility is what made the journey worth the almost-certain letdown.”