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Powerball jackpot rises to estimated $747 million after no winning ticket sold for Saturday's drawing

The Powerball jackpot rose to an estimated $747 million after no winning tickets were sold for Saturday's drawing. The massive winnings would be the ninth-largest in U.S. lottery history.

The next drawing will be on Monday night at 10:59 p.m. ET, with the odds of winning just 1 in 292.2 million.

The huge prize is the latest in a string of recent sizeable lottery jackpots. A massive $1.35 billion Mega Millions jackpot winner in Maine was announced last month. In recent years, Mega Millions has taken steps to make it harder to draw a winning number, such as increasing the cost of a ticket and allowing players more numbers to choose from, which decreases the overall winning odds.

For Powerball, low odds of matching all six numbers and a recently added third drawing per week allow jackpots to increase fairly quickly over the course of months, with the last Powerball winner taking home a whopping $2 billion last November.

The Powerball lottery is available in 45 out of 50 U.S. states, in addition to Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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