Powerball jackpot reaches $1 billion ahead of Monday’s drawing

(NBC, KYMA/KECY) - Monday night's Powerball lottery jackpot is no joke as officials say the estimated grand prize has reached $1 billion, with a cash payout of about $483.8 million.

This is just the fifth time the jackpot has reached the billion dollar mark.

The last time somebody won the Powerball jackpot was on January 1 of this year. That winning ticket was worth $842-million, and it was followed by 38 consecutive drawings without a winner, including last Saturday night's drawing.

But just remember, the odds of winning the Powerball jackpot are 1 in 292.2 million.