Powerball jackpot jumps to second highest this year after no winners Monday night

The Powerball jackpot has climbed to an estimated $1.25 billion after no one matched all six numbers for the 43rd drawing in a row Monday night, game officials announced.

Wednesday’s jackpot will be the second-largest Powerball prize this year, behind the $1.787 billion prize won in Missouri and Texas on Sept. 6, according to a Powerball news release. Wednesday’s jackpot has an estimated cash value of $572.1 million.

This is also the second time the game has produced back-to-back billion-dollar jackpots.

“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, Iowa Lottery chief executive and Powerball Product Group chair, said in the release.

Two tickets were last sold in Missouri and Texas a few months ago that split the previous $1.787 billion prize.

On Monday, two tickets were sold in Arizona and California that matched all five white balls to win $1 million prizes, according to the release. Neither, however, matched the red Powerball number. There were also 43 tickets that won $50,000 prizes and 14 tickets that won $200,000 prizes.

If someone wins Wednesday’s jackpot, they can choose between an annuitized prize of about $1.25 billion or a lump sum payment estimated at $572.1 million before taxes, according to the release. If the winner picks the annuity option, they will get one immediate payment followed by 29 annual payments that go up by 5% every year.