In the latest Powerball jackpot drawing, no fortunate individual secured the grand prize. This has led to a continuous increase in the jackpot's value.

The current estimated jackpot now stands at a staggering $1.40 billion, with a cash option of $643.7 million, according to The Tennessean.

This places the Powerball jackpot as the third-highest in the game's history and among the top 10 payouts in lottery history.

Notably, this marks the fourth lottery jackpot in 2023 to surpass the $1 billion mark.

The most recent Powerball jackpot winner emerged in July, securing a substantial $1.08 billion prize. In the latest drawing, the winning numbers were 9, 35, 54, 63, and 64, with the Powerball number being 1 and a Power Play of 2X.

The anticipation continues as the next drawing for the Powerball jackpot is scheduled for Saturday, October 7, at 10:59 PM ET.

Regular drawings are held three times a week, typically at around 10:59 PM ET on Mondays, Wednesdays, and Saturdays.

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Powerball Makes Someone a Millionaire in Colorado

In addition to the thrill surrounding the massive jackpot, a fortunate individual in Littleton, Colorado, recently became a millionaire by purchasing a Powerball ticket at a Shell gas station.

They invested $10 in the ticket and walked away with a substantial $1 million prize, CBS News reports.

Moreover, the Powerball drawing on Wednesday produced several winning Powerball tickets in Colorado, with wins of $50,000 each in Boulder, Brighton, Johnstown, and Colorado Springs. I

Colorado has had just three Powerball jackpot winners in its history, with the most recent winner dating back to 2017.

Why Are Mega Millions and Powerball Jackpots Rise So Fast?

The ever-increasing jackpots in games like Mega Millions and Powerball have attracted attention, with one contributing factor being the option to purchase tickets online and the addition of an extra drawing day, USA Today.

A survey conducted by Jackpot, a digital lottery courier, revealed that many lottery players prefer to play on a weekly basis, and there has been a slight annual increase in the number of participants.

CEO of Jackpot, Akshay Khanna, emphasized the impact of the availability of online ticket purchases, stating that it has attracted a younger audience, as people find it more convenient to buy tickets through their phones.

Despite this convenience, the survey indicated that 65% of respondents had never purchased tickets online, with 75% typically opting to buy tickets in-store.

Interestingly, 70% of those surveyed were unaware that online ticket purchases were an option, and 70% expressed a preference for online purchases.

While online Powerball sales are limited, they are available in Washington DC and 16 states, including Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Texas, Washington DC, and West Virginia.

In 2023, lottery jackpots have already crossed the billion-dollar threshold on four occasions, with two instances in Mega Millions and two in Powerball.

The addition of a third drawing day in Powerball, beginning in 2021, has contributed to the swifter growth of jackpot amounts, making it even more enticing for players.

This extra day has accelerated the accumulation of the Powerball jackpot, attracting more participants to the game.

READ MORE: $2.04 Billion Powerball Jackpot Winner Sued 

This article is owned by Latin Post.

Written by: Bert Hoover

WATCH: Powerball jackpot climbs to $1.4 billion after no winning tickets in Wednesday drawing - From CBS Mornings