The Powerball jackpot has climbed to an estimated $850 million, making it the sixth-largest prize in the game's history. The drawing is scheduled for tonight at 10:59 p.m. ET. This increase comes after there has not been a grand prize winner since May 31, when a ticket worth $207 million was sold in Arleta, California.

Ticket sales for the drawing have surged, with sales doubling in the past week. Matt Strawn, Powerball Product Group Chair, stated, "America has signaled loud and clear — it’s ready to play for a massive Powerball jackpot." The $2 tickets not only offer a chance to win but also contribute to various community causes.

Players have two options if they win the jackpot: an annuitized prize of $850 million or a lump sum payment of approximately $383.7 million. Both amounts are before taxes. If the annuity option is chosen, the winner will receive one immediate payment followed by 29 annual payments that increase by 5 percent each year.

The odds of winning the Powerball jackpot are about 1 in 292.2 million, while the overall chance of winning any prize is 1 in 24.9. Powerball is played in 45 states, along with the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

Tonight's drawing will be the 38th since the jackpot was last won. The summer jackpot streak has already produced 56 winning tickets worth $1 million or more and 558 tickets worth $50,000 or more. Powerball drawings occur every Monday, Wednesday, and Saturday, and are broadcast live from the Florida Lottery draw studio in Tallahassee.