The United States’ 4th-largest jackpot on record comes after 46 consecutive draws without someone claiming to have all six numbers. The last contest with a jackpot winner was on Sept. 6. The game’s long odds have people decking the halls and doling out $2 — and sometimes more — for tickets ahead of Wednesday night’s live drawing.

It’s a sign the game is operating as intended. Lottery officials made the odds tougher in 2015 as a mechanism for snowballing jackpots, all the while making it easier to win smaller prizes.

The Christmas holiday is not expected to impact the drawing process should there be a winning ticket, a Powerball spokesperson said.

Here is what to know about Wednesday’s drawing:

Christmas Eve cha-ching

That ticket placed in a stocking or under the tree could be worth a billion bucks — but with some caveats.

Powerball is played in 45 states, along with Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Most of those areas require players to be 18 or older, though some states have steeper requirements. In Nebraska, players have to be at least 19 years old, and in Louisiana and Arizona, people can’t buy tickets until they are 21.

Winning tickets also must be cashed in the states where they were bought. And players can’t buy tickets in Alabama, Alaska, Hawaii, Nevada or Utah.

Other than that, lottery officials argue there is a chance a lucky Powerball ticket could be a gift that keeps on giving.

Charlie McIntyre, the New Hampshire Lottery’s executive director, said Tuesday: “Just think of the stories you can tell for generations to come about the year you woke up a billionaire on Christmas.”

A range of prizes can be presents

Wednesday’s $1.7 billion jackpot has a cash value of $781.3 million.

A winner can choose to be paid the whole amount through an annuity, with an immediate payment and then annual payments over 29 years that increase by 5% each time. Most winners, however, usually choose the cash value for a lump sum.

The odds are high for the top prize, but there are smaller prizes players can reap.

At the last drawing, players in Florida, Georgia, Illinois, New York, Ohio, Pennsylvania, Tennessee and Wisconsin each won $1 million. There are also prizes outside the jackpot, ranging from a few dollars to $2 million.

One woman told Powerball officials that she already made plans for her $1 million win: “We’re going to pay off our cars and credit cards and get a bigger house!”

And Thomas Anderson of Burlington, North Carolina, said he intended to use his $100,000 Powerball win from earlier this month to go back to school, according to Powerball.

Long odds for the billion-dollar jackpots

Lottery officials set the odds at 1 in 292.2 million in hopes that jackpots will roll over with each of the three weekly drawings until the pool balloons so much that more people take notice and play.

The odds used to be notably better, at 1 in 175 million. But the game was made tougher in 2015 to create the out-of-this-world bounties. The tougher odds partly helped set the stage for back-to-back record-breaking sweepstakes this year.

The last time someone won the Powerball pot was on Sept. 6, when players in Missouri and Texas won $1.787 billion, which was the second-highest top prize in U.S. history.

The U.S. has seen more than a dozen lottery jackpot prizes exceed $1 billion since 2016. The biggest U.S. jackpot ever was $2.04 billion back in 2022.

More about those unfavorable odds

It’s hard to explain what odds of 1 in 292.2 million mean. Even if halved, they remain difficult to digest.

In the past, one math professor described the odds of flipping a coin and getting heads 28 straight times.

Tim Chartier, a Davidson College math professor in North Carolina, on Monday compared the odds of a winning lottery ticket to selecting one marked dollar bill from a stack 19 miles (31 kilometers) high.

“It’s true that if you buy 100 tickets, you are 100 times more likely to win. But in this case, ‘100 times more likely’ barely moves the probability needle,” Chartier said. “Using the time analogy, buying 100 tickets is like getting 100 guesses to name that one chosen second over nine years. Possible — but wildly improbable.”

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Olivia Diaz is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Chief executives leading the likes of American genealogy giant Ancestry, $2.4 billion wellness platform Wellhub, ticketing business Eventbrite, and facial chain Glowbar are all weighing in on their goals. Each has their own distinct target—whether that be finally getting seven hours of shut-eye, or racing mountain bikes across South Africa for eight days. One is intent on getting a leg-up in the AI race, while another wants to revive a family tradition from her childhood. 

Beyond the boardroom, CEOs are setting goalposts for their own growth. Here’s what they’re hoping to achieve in 2026: 

8-day mountain biking race

“I’m an obsessive planner in that I set specific new goals for friends/family, my profession (CEO or Virta), personal health, and adventures I want to do. Next year, I’m doing an 8-day mountain biking stage race in South Africa with a partner.

For personal ‘health,’ I might also add a short meditation retreat—meditation is something I’ve found very helpful since 2013.”

Sami Inkinen, the cofounder and CEO of Virta Health Group.

Walking 20,000 steps every day

“On a personal level, I’m an avid walker. I love walking and try to walk as much as I can. So, for me, one New Year’s resolution I am really trying to stay strong on is walking at least 20,000 steps per day. Some days that is more accomplishable than others, but that is something as we head into the new year that I will be trying to conquer every day.

To get those 20,000 steps a day, I try to walk everywhere I can. And luckily for me, New York and Philadelphia are two great walking cities where I spend a majority of my time. And it also helps when I’m visiting a city where we have multiple Insomnia Cookies bakeries, so all that walking will be part of my strategy to get to 20,000 steps per day. 

And on a business level, continuing to expand our Insomnia Cookies unparalleled reach across the globe to deliver our warm, delicious cookies to more Insomniacs.”

Seth Berkowitz, the CEO and founder of Insomnia Cookies.

Live presently and embrace the little moments

“My resolution is to live presently and embrace both the big and small IRL moments that build life’s memories—whether that’s creating new experiences through travel, spending time with loved ones, or exploring my own interests in culture and entertainment.”

Julia Hartz, the CEO and cofounder of Eventbrite.

Vision board over New Year’s resolutions

“I don’t make New Year’s resolutions because historically I haven’t kept them, and it makes me feel discouraged. Instead, I create an updated virtual vision board for how I want the year to FEEL. I think a lot of times, we create resolutions that are specific to an action that it’s easy to lose track [of]. When you focus on how you want to feel for the year, it’s easier to see what fits into that, and what doesn’t.”

Rachel Liverman, the CEO and founder of Glowbar.

Preserve family memories to last for generations

“My dad passed away in late August after living an amazing 87 years. That’s gotten me focused on being more intentional about time with my family and staying rooted in the things that matter most. 

One of my resolutions is to go through all of his old slides and videos, scan and preserve them, and add them to our family tree so we can share those memories together. My only regret is not doing it sooner—we should all take the time to capture these stories while our parents and grandparents are still here to help us understand the moments behind the photos. It’s a meaningful way to stay connected and ensure those memories live on for future generations.”

Howard Hochhauser, the CEO and President of Ancestry.

Stay ahead on AI 

“Professionally, I want to stay ahead of the curve in AI and identity. The industry is moving so fast that staying updated is almost a sport. You cannot just follow trends. You have to understand which ones will define the next decade and which ones are just noise. 

I also want AI to flourish on a fairer and safer ground, so society can benefit from its breakthroughs without sacrificing trust or accountability. Personally, my resolution is to grow as a father and partner while raising two children. Balancing family and work is not something you master once. It is a daily commitment. I want my children to grow up in a world that is fair and democratic, and that starts with how I show up at home.”

Ricardo Amper, the CEO and founder of Incode.

7+ hours of sleep and 4 trips without kids

“Like most people, my resolutions are all about wellbeing. And yes, I’m very much being a CEO about it, treating [wellness] like business objectives with clear targets and tracking. Sleep is honestly where I’ve been struggling most, so that’s my main focus: 7+ hours with good recovery scores at least five nights a week, tracked through one of Wellhub’s partner apps. 

I’m also keeping up with 240 minutes of cardio and strength training weekly, which breaks down to one hour, four days a week that I can squeeze in between meetings and family time. And personally, I want to take four trips with my wife without the kids. Even short ones count. That quality time together is everything.”

Cesar Carvalho, CEO and cofounder of Wellhub.

Reviving a childhood tradition and staying grounded

“My resolution is to reconnect with things that ground me. For example, I moved to LA for easy access to nature, yet I don’t always take advantage of it, even though I know I feel 100 times better when I disconnect outside; so, in 2026 I want to commit to a weekly hike or beach walk. I know prioritizing that time will be a gift to my mental and physical health. 

I’m also bringing back a childhood tradition: Friday night family dinners at home. Growing up, it was a ritual we all looked forward to, and I want to create that same end of week celebration with my family.”

Loren Brill Castle, CEO and founder of Sweet Loren’s.