The Powerball jackpot has reached an estimated $725 million after no winning numbers were drawn on Monday.

Monday night's winning numbers were not matched, leading to the increase in the jackpot for Wednesday's drawing.

The cash option for Monday's jackpot was over $340 million, which would have been the prize for a winner.

The winning numbers for Monday's Powerball drawing were 2, 24, 34, 53, 58, with the Powerball number being 13 and a Power Play of 2X.

No tickets matched five numbers plus the Powerball, according to Powerball officials.

The odds of winning the Powerball jackpot are approximately 1 in 292.2 million, highlighting the slim chances of winning the top prize.

The overall odds of winning any Powerball prize, across all tiers, are about 1 in 24.9.

To play Powerball, participants need to choose five numbers from one to 69 for the white balls and one number from one to 26 for the red Powerball.

Powerball offers eight additional ways to win apart from the jackpot, with prizes ranging from $4 to $1 million.

By opting for the "Powerplay" feature for an additional $1, players can increase their non-jackpot winnings by 2, 3, 4, 5, or 10 times.