The U.S. Powerball jackpot has climbed to $1.7 billion ahead of Wednesday night’s drawing, putting one of the biggest lottery prizes in American history within reach — just in time for Christmas.

The jackpot swelled after Monday’s drawing produced no winners, allowing the payout to climb.

The next drawing was set for 10:59 p.m. ET on Wednesday (0359 GMT on Thursday), with the odds of winning the jackpot at 1 in 292.2 million.

Players may choose between an annuitized payout of $1.7 billion over 29 years or a lump-sum cash option of about $781.3 million before taxes, according to the lottery website.

The jackpot is the fourth-largest in Powerball history and among U.S. lottery games.

Historically, the Powerball jackpot has been won once on Christmas Eve in 2011 and four times on Christmas Day.

Nationwide, nine secondary prizes of $1 million were claimed in the last drawing on Monday.

The largest Powerball jackpot ever was $2.04 billion, won in California in 2022, representing the largest U.S. lottery prize on record.

Large jackpots tend to bolster ticket sales, boosting revenue for state lottery funds that support education and other public spending.

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(Reporting by Reuters; Editing by Howard Goller)