The winning numbers announced were: 12, 26, 27, 43, 47 and the Powerball 5.

It took several hours to determine that no one had scooped the eye-watering prize, meaning it climbs by another $160 million ahead of Saturday's drawing. 

The jackpot is the third-largest in the history of Powerball and the seventh largest in US lottery history.

The prize has grown so massive because there have been 33 consecutive drawings since someone matched all five white balls and the Powerball to win the jackpot, dating back to July 19.

That losing streak reflects the stunningly long odds of winning the jackpot, at 1 in 292.2 million.

Wednesday's $1.04 billion jackpot is for a sole winner who chooses to receive the winnings through an annuity, paid annually over 30 years. Winners nearly always pick the cash option, which for Monday night´s drawing would be an estimated $478.2 million.

A Powerball ticket costs $2 in most states and players can pick their own numbers or have a computer make the selection.

Powerball is played in 45 states as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.