Christmas Powerball prize could reach $400 million

One lucky ticket holder could be in for a multi-million dollar prize on Christmas Day. The Powerball jackpot has climbed to an estimated $400 million for the third time this year, the lottery association said. 

The estimated jackpot has a $292 million cash value and winning numbers are drawn each Monday, Wednesday and Saturday at 10:59 p.m. ET on the Powerball’s website. Tickets are $2.00 per play and are sold in 45 different states as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands. 

Winners of the Powerball jackpot can choose to receive their prize as either a lump sum payment or in 30 graduated payments over 29 years. 

But the chances of securing the grand prize are low.

According to Powerball, the odds of winning the jackpot are one in 292.2 million, while the overall probability to win a prize in general is one in 24.9. Since the jackpot was last won — on October 4 for $699.8 million — there have been 34 consecutive drawings without a winner. In January, a person in Maryland won $731.1 million, one of the largest Powerball jackpots ever won.

In 2016, the jackpot reached a record $1.586 billion. Winners in California, Florida and Tennessee shared the grand prize.