The first Powerball drawing of the year will offer one of the biggest prizes in the game's history.

The jackpot in Saturday's drawing has grown to $334 million, the 12th largest in Powerball history. The lump-sum cash prize for the winner is $205 million.

Iowa Lottery spokesman Kevin Kirkpatrick says the last time the prize was close to this amount was in March 2013, when a New Jersey man won $338 million.

Powerball's largest jackpot was more than $590 million in May 2013. Kirkpatrick says the game would have to continue a few more rounds without a winner before it could reach that level.

The odds of winning the Powerball jackpot are 1 in 292 million.