Wednesday's (October 4) Powerball jackpot will be worth an estimated $1.20 billion after zero players matched all six numbers during the $1.04 billion drawing Monday (October 2) night.

The next Powerball jackpot will be the third largest drawing in the game's history and the seventh largest in U.S. lottery history. The Powerball jackpot reset to $20 million after one player in Los Angeles won the $1.08 billion drawing on July 19.

A ticket purchased at Las Palmitas Mini Market near the Fashion District in Los Angeles, California, matched all five white numbers and the red Powerball. The drawing was the third largest in the game's history and the seventh largest in U.S. lottery history.

The Powerball jackpot had previously reset to $20 million after one player in Ohio won the $253 million drawing on April 19, which followed back-to-back Mega Millions jackpots on April 18 and April 14.

One player in California had previously matched all six numbers to win the $2.04 billion ($997.6 million) jackpot on November 7, the largest jackpot offered in U.S. lottery history, according to the official Powerball website.

The $1.586 billion ($983.5 million cash value) Powerball drawing on January 13, 2016 set the previous record for the world's largest jackpot for both cash value and annuity. Three tickets in California, Florida and Tennessee won the $1.586 billion Powerball jackpot in January 2016, which set the record for the world's largest jackpot (cash value and annuity) and was the ninth largest cash value per ticket.

Mega Millions games have also exceeded $1 billion five times, with Friday's (August 4) drawing estimated to be worth $1.25 billion. The Powerball and Mega Millions games previously offered a combined jackpot of more than $1.7 billion in January 2021.

Both jackpots increase during each following game until there's a jackpot winning ticket matching all six numbers drawn, which includes the additional Mega Millions Gold Ball or Powerball in each respective game.