New Delhi, Dec. 24 -- America's fourth-largest lottery prize hangs in balance as holiday gamblers chase historic windfall while jackpot drought extends to unprecedented 47 consecutive drawings since August.

The Powerball jackpot has surged to a staggering $1.7 billion for the Christmas Eve drawing, marking the fourth-largest lottery prize in United States history as millions of Americans line up for a chance at life-changing wealth during the holiday season. The astronomical sum represents an unprecedented 47 consecutive drawings without a grand prize winner, shattering previous records and creating a frenzy at lottery retailers nationwide.

The jackpot's relentless climb began in early August when the last grand prize winner emerged, an...