If you have been watching the Powerball jackpot climb, now is a great time to buy a ticket.

The Powerball jackpot is now at $1.6 billion, setting a new lottery prize record ahead of tonight’s drawing.

The Powerball jackpot hasn’t been won in three months. The string of 39 consecutive drawings without a winner is a reflection of the tough odds of winning a jackpot, at 1 in 292.2 million.

If no one wins tonight’s drawing, it will tie the lottery record for the number of consecutive drawings without a grand prize winner.

The advertised jackpot is the prize for a winner who chooses an annuity, paid annually over 29 years. Almost all winners instead opt for the cash prize, which for tonight’s drawing would be an estimated $782.4 million.

The new jackpot tops the previous record prize of $1.586 billion won in 2016 by three Powerball players in California, Florida and Tennessee.

Top 10 Powerball Jackpots

1. $1.6 Billion (est.) – Nov. 5, 2022
2. $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
3. $768.4 Million – March 27, 2019 – WI
4. $758.7 Million – Aug. 23, 2017 – MA
5. $731.1 Million – Jan. 20, 2021 – MD
6. $699.8 Million – Oct. 4, 2021 – CA
7. $687.8 Million – Oct. 27, 2018 – IA, NY

8. $632.6 Million – Jan. 5, 2022 – CA, WI
9. $590.5 Million – May 18, 2013 – FL
10. $587.5 Million – Nov. 28, 2012 – AZ, MO

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.