It could be a very Merry Christmas indeed for a lucky lottery player.

The Mega Millions jackpot has soared to an estimated $1 billion -- yup, billion with a "B" -- after another drawing without a big winner Friday night.

The next drawing is set to happen at 11 p.m. ET on Tuesday night.

The jackpot, which would rank as the seventh-largest Mega Millions lottery prize ever, has been growing for more than three months, reflecting the long odds of 1 in 303 million of winning the top prize. The last time someone hit the jackpot was on Sept. 10 after a player in Texas won $800 million.

The $1 billion prize is for a sole winner who chooses to be paid through an annuity with 30 annual payments. Winners almost always prefer the cash option, which for the next drawing Tuesday night would be an estimated $448.8 million.

The Mega Millions is played in 45 states, D.C. and the U.S. Virgin Islands. Drawings are every Tuesday and Friday at 11 p.m. ET.