By CBSMiami.com Team

MIAMI (CBSMiami) — New Year’s Day could be a new beginning for someone if they win the Powerball drawing that night.

The jackpot has jumped to $500 million. The cash value if someone hits it big would be $355.9 million.

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There have been 37 drawings in a row without a jackpot winner, according to Powerball. The last jackpot-winning draw occurred on October 4, when a California resident won $699.8 million.

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While the overall odds of winning any number of the Powerball prizes are 1 in 24.9, the odds of winning the Powerball jackpot are 1 in 292.2 million, according to the organization.

Tickets cost $2, and drawings are each Monday, Wednesday, and Saturday.

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CBS4 is your official Florida Lottery station.

CBSMiami.com Team