The Powerball jackpot has increased to an estimated $64 million for the January 3 drawing after no winner was found on Wednesday. Players have the choice between a 30-year annuity or a lump sum of approximately $29.5 million before taxes. Despite extremely low odds of 1 in 292.2 million, the lottery remains popular across 45 states and territories. The previous record jackpot was claimed on Christmas Eve.