Is it too late to buy a Powerball ticket?

COLUMBUS, Ohio (WCMH) -- The Powerball is having yet another drawing for the largest jackpot in U.S. lottery history after no one matched the numbers drawn on Saturday.

The Powerball jackpot is now estimated at $1.9 billion with a lump-sum cash option of $929.1 million for Monday's drawing at 10:59 p.m. Eastern Time.

According to the Multi-State Lottery Association, the latest you can buy a ticket is 59 minutes before the drawing.

That means that in many jurisdictions ticket sales will close at 10 p.m. ET Monday. However, local jurisdictions are allowed to set earlier cut-off times, so check your state's lottery rules to see if you have even less time to buy a last-minute ticket.

The odds of winning the jackpot stand at 1 in 292.2 million.

Saturday's drawing was the 40th time no ticket matched the winning numbers and Powerball number since Aug. 3. If no one wins Monday's drawing for the jackpot, it will break the record for most consecutive drawings without a winner.

Monday's jackpot surpasses the previous record for the largest U.S. lottery jackpot by more than $300 million. It is also the second $1 billion-plus jackpot this year; a Mega Millions ticket sold in Illinois won $1.337 billion on July 29.

Until this drawing, the biggest lottery prize was a $1.586 billion Powerball jackpot won by three ticketholders in 2016.

The five largest Powerball jackpots are:

1. $1.9 billion (estimated), Nov. 7, 2022

2. $1.586 billion, Jan. 13, 2016 (three tickets, from California, Florida, and Tennessee)

3. $768.4 million: March 27, 2019 (one ticket, from Wisconsin)

4. $758.7 million, Aug. 23, 2017 (one ticket, from Massachusetts)

5. $731.1 million, Jan. 20, 2021 (one ticket, from Maryland)

Winners of the big jackpot have 60 days after the date of ticket verification to decide if they want to take the annuity or the reduced cash payout.

If winners choose to take the full jackpot, the money would be paid out in 30 payments over 29 years, with a 5% annual increase every year until the final payment.

Powerball is played in 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. The first Powerball drawing was held on April 19, 1992.

The Associated Press contributed to this story.