Powerball hits $1.5B, largest-ever lottery jackpot for one winner

Before you go, we thought you'd like these...
Before you go close icon
The Lottery Paradox

The Powerball lottery jackpot climbed to $1.5 billion on Tuesday, making it the largest-ever U.S. lottery prize as well as the world's biggest potential jackpot for a single winner, according to lottery officials.

The payout has increased due to strong ticket sales on Monday, said Texas Lottery Commission spokeswoman Kelly Cripe.

See photos of Americans whipped into a frenzy over the record-breaking Powerball jackpot:

8 PHOTOS
January 2016 massive Powerball jackpot
See Gallery
Powerball hits $1.5B, largest-ever lottery jackpot for one winner
A woman purchases a Powerball lottery ticket at a convenience store in Washington, DC, January 7, 2016. Lottery officials predict Saturday's jackpot will reach $700 million, the largest in history. AFP PHOTO / SAUL LOEB / AFP / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)
A sign in the window of a liquor store shows the Powerball lottery jackpot at $700 million in Washington, DC, on January 7, 2016. The largest jackpot in lottery history, a whopping $700 million, is up for grabs in the United States on Saturday, driving feverish excitement among lotto players dreaming of becoming millionaires. AFP PHOTO/NICHOLAS KAMM / AFP / NICHOLAS KAMM (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)
CHICAGO, IL - FEBRUARY 11: A Powerball lottery ticket is printed for a customer at a 7-Eleven store on February 11, 2015 in Chicago, Illinois. Ticket sales have caused the jackpot to grow $500 million, one of the largest in the game's history. (Photo by Scott Olson/Getty Images)
CHICAGO, IL - FEBRUARY 11: Kirk Cook rings up a Powerball lottery ticket sale at a 7-Eleven store on February 11, 2015 in Chicago, Illinois. Ticket sales have caused the jackpot to grow $500 million, one of the largest in the game's history. (Photo by Scott Olson/Getty Images)
DUNKIRK, MD - JANUARY 06: With the Jackpot now at 500 million, Sherrie Haines sells a Powerball ticket to Robert Sweeney at the BP gas station, January 6, 2015 in Dunkirk, Maryland. People are visitingÃlottery counters across the area with hopes of hitting it big in tonights Powerball drawing. (Photo by Mark Wilson/Getty Images)
DUNKIRK, MD - JANUARY 06: With the Jackpot now at 500 million, Gale Call (L) and Sherrie Haines (C) sell a Powerball ticket to Mike Nastasi (R) at the BP gas station, January 6, 2015 in Dunkirk, Maryland. People are visitingÃlottery counters across the area with hopes of hitting it big in tonights Powerball drawing. (Photo by Mark Wilson/Getty Images)
A man purchases a Powerball lottery ticket at a liquor store in Washington, DC, January 4, 2016. Lottery officials predict the January 6 jackpot will reach $400 million, one of the largest in the game's history. AFP PHOTO / SAUL LOEB / AFP / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

The Powerball lottery drawing will be held on Wednesday. The game is played in 44 states, Washington, D.C. and two U.S. territories.

The jackpot is worth $930 million if a winner chooses an immediate cash payout instead of annual payments over 29 years, according to the Multi-State Lottery Association.

The grand prize in Wednesday's drawing is the world's richest lottery jackpot that could go to a single ticketholder, and the amount is expected to rise further before then, according to lottery officials.

Data curated by FindTheData

The Powerball jackpot has been growing ever since the last winner was drawn in November.

While the current $1.5 billion prize is by far the largest ever up for grabs in North America, Spain's El Gordo lottery, or "the Fat One," had a prize pool of $2.45 billion in December 2015. A year earlier, it totaled $2.7 billion.

But El Gordo payouts are awarded to thousands of ticketholders while Powerball's riches could go to a single ticketholder.

See photos from 'El Gordo' fever in Spain:

13 PHOTOS
Lottery fever in Spain, 'El Gordo'
See Gallery
Powerball hits $1.5B, largest-ever lottery jackpot for one winner
A group of people celebrate in a street of Villanueva de la Concepcion, near Malaga, as they hold a ticket wlth the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
A man hugs two girls in a street of Villanueva de la Concepcion, near Malaga, where some locals won the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
Officials verify the balls with the numbers during the draw of Spain's Christmas lottery named 'El Gordo' (The Fat One) at the Teatro Real in Madrid, on December 22, 2015. The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. This year's 'El Gordo' winning number represented takings of 4 million (£2.9 million). AFP PHOTO / PIERRE-PHILIPPE MARCOU / AFP / PIERRE-PHILIPPE MARCOU (Photo credit should read PIERRE-PHILIPPE MARCOU/AFP/Getty Images)
A woman holds her tickets as he attends the draw of Spain's Christmas lottery named 'El Gordo' (The Fat One) at the Teatro Real in Madrid, on December 22, 2015. The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. This year's 'El Gordo' winning number represented takings of 4 million (£2.9 million). AFP PHOTO / PIERRE-PHILIPPE MARCOU / AFP / PIERRE-PHILIPPE MARCOU (Photo credit should read PIERRE-PHILIPPE MARCOU/AFP/Getty Images)
A man shows his tickets as he attends the draw of Spain's Christmas lottery named 'El Gordo' (The Fat One) at the Teatro Real in Madrid, on December 22, 2015. The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. This year's 'El Gordo' winning number represented takings of 4 million (£2.9 million). AFP PHOTO / PIERRE-PHILIPPE MARCOU / AFP / PIERRE-PHILIPPE MARCOU (Photo credit should read PIERRE-PHILIPPE MARCOU/AFP/Getty Images)
An official waits for the balls with the numbers to be poured into the rotating drum before the draw of Spain's Christmas lottery named 'El Gordo' (The Fat One) at the Teatro Real in Madrid, on December 22, 2015. The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. This year's 'El Gordo' winning number represented takings of 4 million (£2.9 million). AFP PHOTO / PIERRE-PHILIPPE MARCOU / AFP / PIERRE-PHILIPPE MARCOU (Photo credit should read PIERRE-PHILIPPE MARCOU/AFP/Getty Images)
MADRID, SPAIN - DECEMBER 22: A woman wearing drum costume waits the start of the traditional Spanish 'El Gordo' Christmas lottery draw at the Royal Opera House in Madrid, Spain, 22 December 2015. (Photo by Burak Akbulut/Anadolu Agency/Getty Images)
MADRID, SPAIN - DECEMBER 22: A man holds his lottery ticket as he wait the start of the traditional Spanish 'El Gordo' Christmas lottery draw at the Royal Opera House in Madrid, Spain, 22 December 2015. (Photo by Burak Akbulut/Anadolu Agency/Getty Images)
People celebrate in a street of Villanueva de la Concepcion, near Malaga, after winning the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
A group of people celebrate in a street of Villanueva de la Concepcion, near Malaga, as they hold a photocopy of a ticket with the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
A group of people celebrate in a street of Villanueva de la Concepcion, near Malaga, as they hold a ticket wlth the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
A group of people celebrate in a street of Villanueva de la Concepcion, near Malaga, as they hold a ticket wlth the first prize of the Spain's Christmas lottery named 'El Gordo' (Fat One) on December 22, 2015. This year's winning number is 79140 representing takings of 4 million euros (£2.9 million). The Gordo lottery first took place in 1812 in Cadiz and has not missed a year since, continuing through Spains civil war between 1936 and 1939. In 1938, there were actually two Christmas lotteries, one held in Burgos by dictator General Francos Nationalist regime, and the other in Republican-ruled Barcelona. AFP PHOTO / JORGE GUERRERO / AFP / Jorge Guerrero (Photo credit should read JORGE GUERRERO/AFP/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

More from AOL.com:
4-year-old boy will be Ryan's guest at State of the Union
The 'hidden airport' travel hack could save you as much as 80% on flights
Large pileup occurs along snowy I-70 in Richmond, Indiana; injuries reported

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport
20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job 20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job
Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going