The Powerball jackpot now stands at an estimated $1.7 billion and is one of the largest lottery prizes in U.S. history

The cash option for the Dec. 24 drawing is worth $781.3 million. The jackpot is the fourth largest prize in Powerball history and the fourth largest in U.S. lottery history. Once again, MLive will provide the results shortly after the drawing takes place at 11 p.m. EST.

On Christmas Eve, one single ticket sold in Cabot, Arkansas matched all six numbers drawn to win the $ 1.817 billion jackpot, which has a cash option of $834.9 million before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% every year.

With the Powerball jackpot soaring to its fourth highest historical amount, many in the community are imagining what they would do with the estimated $1.7 billion prize pot.

More than a day after Arkansas lottery officials announced that someone had purchased the winning Powerball ticket, worth a whopping $1.817 billion, in the small city of Cabot, the mystery remained as to who could be the winner at the gas station off Highway 67 where it was sold.

Virginia lottery players won big on Christmas Eve with a $1 million ticket plus other major prizes in Wednesday's Powerball drawing.