The Powerball jackpot has increased to an estimated $1.25 billion for the drawing on Wednesday night.

 The prize has a cash value of approximately $572.1 million. The drawing will be broadcast on 21 News at 11.

This jackpot is the second-largest Powerball prize of the year, trailing only the 1.787 billion won on Sept. 6 by players in Missouri and Texas. This cycle marks the 44th consecutive drawing without a jackpot winner, setting a new record for the game.

It is also only the second time in Powerball history that consecutive jackpot runs have reached the $1 billion mark. The previous instance occurred in 2023.

"Powerball has only seen back-to-back to billion-dollar jackpots twice, and this one has arrived just in time for the holidays," Matt Strawn, chair of the Powerball Product Group, said in a statement. "While it’s exciting to see the jackpot climb to this level, please remember to play responsibly."

If a player wins on Wednesday, they must choose between the $1.25 billion annuitized prize or the lump sum cash payment. The annuity option consists of one immediate payment followed by 29 annual payments that increase by 5% each year. Both options are calculated before taxes.

No ticket matched all six numbers in the Monday drawing. 

The overall odds of winning any prize are 1 in 24.9, while the odds of winning the jackpot are 1 in 292.2 million. Tickets cost $2 per play.