Powerball jackpot rises to $1.4 billion ahead of Wednesday's drawing

Powerball jackpot rises to $1.4 billion

The massive prize comes after 40 consecutive drawings without a grand prize winner.

LOS ANGELES - An estimated $1.4 billion lottery jackpot will be up for grabs Wednesday night thanks to dozens of drawings without a big winner.

What we know:

This Powerball jackpot is the sixth-largest in U.S. history.

The current Powerball jackpot has climbed to its massive size because no one has won the grand prize since May 31.

A $1.3 million ticket matching five numbers was purchased in the Sherman Oaks neighborhood of Los Angeles in the last drawing on Monday.

PREVIOUS COVERAGE: Powerball ticket worth $1.3 million sold in Los Angeles

By the numbers:

Payments for a jackpot would be spread over 30 years. A winner can also choose an immediate lump sum in cash before taxes.

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The odds of matching all six numbers are astronomical: 1 in 292.2 million. Your chances of getting struck by lightning are far greater.

Powerball, which costs $2 per ticket, is played in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Drawings are held each week on Monday, Wednesday and Saturday nights.