Christmas Eve Powerball Drawing Offers Shot at $1.7 Billion Jackpot

A $1.7 billion Powerball jackpot—the fourth-largest in the game's history—is up for grabs in Wednesday night's Christmas Eve drawing.

The massive prize has built up over 46 consecutive drawings without a jackpot winner. The last time someone matched all six numbers was September 6. Those long odds are by design: Powerball made winning the top prize harder in 2015 specifically to create these snowballing jackpots, while making smaller prizes easier to hit.

Wednesday's drawing takes place at 10:59 p.m. EST. A Powerball spokesperson said the Christmas holiday won't affect the drawing process if there's a winning ticket.

Anyone who beats the 1-in-292.2-million odds faces a choice: take the full $1.7 billion through an annuity paid out over 29 years with 5% annual increases, or accept the cash value of $781.3 million as a lump sum. Most winners choose the cash option.

Powerball is played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. Most jurisdictions require players to be at least 18, though Nebraska sets the minimum at 19, and Louisiana and Arizona require players to be 21. The game isn't available in Alabama, Alaska, Hawaii, Nevada, or Utah.

Winning tickets must be claimed in the state where they were purchased.