Powerball jackpot reaches $638 million in time for Christmas drawing

The Powerball jackpot has reached $638 million in time for its next drawing on Christmas night. It has been reported that winning the Powerball jackpot on Christmas is not unprecedented, with three instances in the past, the latest being a decade ago when a person in Missouri won $71.5 million. The Powerball product group chair, Drew Svitko, emphasized the exceptional timing of this significant jackpot. The estimated cash value for the grand prize is $321.1 million and the odds of winning stand at 1 in 292.2 million. The cutoff times for ticket sales usually occur one to two hours prior to the scheduled 10:59 p.m. ET drawing on Monday. The previous Powerball jackpot was won on October 11, with a staggering prize of $1.765 billion.