Wednesday night's Powerball jackpot has now reached $1.25 billion and is the year's second- biggest.

Powerball will be drawing its winning lottery numbers Monday night for a record 46th time since its last jackpot was claimed, as a string of failed sweepstakes ballooned the top prize to $1.6 billion.

The jackpot, worth an estimated lump sum cash value of $735.3 million, is the fourth largest in the game's history and the fifth largest among U.S. lottery grand prizes, Powerball said.