The jackpot for Wednesday's drawing was initially set at $1.7 billion, but final ticket sales pushed the prize higher than previously expected.

A Christmas Eve Powerball drawing could add new meaning to holiday cheer as millions of players hoped to cash in on the $1.7 billion prize.

The Powerball jackpot has climbed to $1.7 billion for the Christmas Eve drawing, marking the fourth-largest prize in the game's history. The winner can choose a massive $781 million lump-sum cash option before taxes, sparking a surge in ticket sales across the country.

This Christmas Eve could mark the start of a very happy holiday for someone, as the Powerball jackpot soars to $1.7 billion.