Powerball jackpot jumps to $1 billion. Here are the odds of winning the big prize

Key Points:

• The Powerball jackpot for Wednesday night's drawing has reached $1 billion, marking the highest jackpot of the year and the eighth-largest in Powerball history, with an estimated cash value of $433.1 million.
• Powerball drawings occur three times a week, with the next drawing on Wednesday at 7:59 p.m., and ticket sales closing at 7 p.m. on the day of the draw; tickets cost $2 each and the odds of winning the jackpot are 1 in 292.2 million.
• The jackpot has rolled over 43 times since the last win on May 2, but smaller prizes remain available, including an unclaimed $1.53 million prize from a Feb. 21 drawing in San Diego County.
• The unclaimed winning ticket, sold at Varso Gas in Escondido, matches five numbers but missed the Powerball, and must be claimed by August 20 or the prize money will be redirected to California public schools.
• California Lottery officials urge anyone who purchased a ticket at Varso Gas to check their tickets and, if holding the winning ticket, to claim the prize at a district office with proper identification before the deadline.