The Powerball jackpot is worth $785 million, the fourth largest in the history of this lottery

(CNN) — A $785 million Powerball jackpot was up for grabs in Monday night’s drawing, the fourth-largest in the game’s history, according to Powerball.

The lucky grand prize winner will have a choice between an annual prize of US$785 million or a one-time payout of US$367 million. Both are before taxes, according to Powerball.

The massive jackpot has been surpassed only by three previous jackpots worth more than $1 billion, according to the Multistate Lottery Association.

There have been 28 consecutive drawings without a jackpot winner since the Powerball jackpot on July 19, when a ticket sold in California won a $1.08 billion prize.

The Powerball jackpot increased this Saturday after no ticket matched the six numbers drawn: 1, 12, 20, 33, 66 and Powerball 21, to win the jackpot.

However, there were some big winners on Saturday. Three tickets sold in California, Florida and New York that matched all five white balls won US$1 million in prizes. Another ticket from Michigan won a $2 million prize by matching all five white balls including the prize multiplier, according to Powerball.

The largest Powerball jackpot in history was a $2.04 billion prize won in California in November 2022.

The odds of winning the jackpot are 1 in 292.2 million, according to Powerball.