The Powerball jackpot has reached an estimated $45 million for the December 31 drawing after no winner was declared on Monday. Players have the option of a 30-year annuity or a lump sum of approximately $20.7 million before taxes. The odds of winning remain very low at 1 in 292.2 million. This follows a recent record $1.817 billion jackpot win in Arkansas, which has fueled continued interest in the lottery across 45 states and territories.