The Powerball jackpot grew to more than $1.7 billion after no winning tickets from Monday's drawing. CBS News' Tom Hanson has more details.

The Powerball jackpot has grown to $1.75 billion for the Christmas Eve drawing after no ticket matched all numbers in the most recent drawing. This marks the 46th consecutive drawing without a jackpot winner, making it the fourth largest lottery prize in U.S. history.

Recent rule changes, including increased ticket prices and more ways to win smaller prizes, have contributed to the rise in large jackpots. The odds of winning remain 1 in 292 million, and winners can choose between a lump sum payout of approximately $781 million or annual payments.

Powerball jackpot reaches whopping $1.7 billion for Christmas Eve

Another Powerball drawing and another night with no big winners. Ten tickets came close, matching the first five numbers for a million bucks, but no one matched the Powerballs. So that means the Christmas Eve drawing will be worth $1.75 billion, the fourth largest lottery jackpot in U.S. history. We wanted to learn a little bit more about it all, so we called Tom Hanson, our resident lottery expert, question mark, maybe? I buckled. I never buy lottery tickets, but I was experiencing major FOMO. I was like, what if somebody at CBS gets it? Well, that's the billion-dollar question. At this point, I was tempted, too, Lindsey. I went from store to store to store, or bodega, bodega, bodega, but none of them were offering it. So I need to find the nearest place to my apartment. I got an app. That's probably the best way to go. Look, this is the 46th straight drawing where there has not been a winner, so every time that number just goes up and up and up. Tempting. We're talking $1.7 billion. As you mentioned, the fourth largest. I want to put that into perspective a little bit here because that's a lot of money, hard to wrap your head around. You know, if you were to take the payout up front, which is roughly $750 million, a little more than that, $780 million, if you were to take that payout in $100 bills and stack each one on top of each other, that would get you higher than the Willis Tower in Chicago. That's how much money we are talking about here. It is incredibly hard to wrap your head around. But yeah, just a reminder, get those tickets because it could be you. The odds are slim, but it could be you. We're going to talk odds in a second. It feels like we've been getting these mondo jackpots more frequently. Is there any truth to that? Yeah, well, there actually is. You know, 20 of the biggest jackpots have all happened in the last 10 years. And get this, more than half of those have been in just the last two years. And that's because of the rule changes that have happened here, where there are more ways to win smaller prizes. The rules include changing the number of balls in play, adding more multipliers. And of course, ticket prices have become more expensive now too, costing $2 instead of $1. So there's a lot of confluence of factors that lead to these big, big jackpots that we're seeing. OK, so what are the odds? And let's say, let's just say, let's just put it into the universe that Lindsey Reiser wins. What happens? Well, hopefully, I get a little kickback, yeah, I get a kickback. You know, look, 1 in 292 million, that is the odds we're all up against. But look, someone has to win, right? Eventually, there will be that magic string of numbers and the Powerball itself that will get someone over the edge to that payout, or maybe a few people to that payout. But you know, you can choose to get the upfront payout. You can also choose to get the monthly. And at the end of the day, $781.3 million, that is what you're looking at for the money. So if you do find a bodega that says, Tom, come on in, are you doing, like, lucky numbers? Are you doing random? What are you doing? Oh, no, no, no, no, no. I have definitely tuned ChatGPT to tell me what numbers to pick. But ChatGPT was like, we can't tell you exactly what's going to win, because nobody knows, which I'm like, OK, fine. Yeah, I was like, based on the most common winning numbers, what would you pick this time around? So who knows? Maybe it's a crystal ball, maybe not. But I have to get those tickets. Good luck. And good luck to you at home. Remember, Lindsey loves you. Remember. Thanks, Tom. So does Tom.

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