(CNN) 鈥� This is not an April Fool鈥檚 Day joke. Monday night鈥檚 Powerball drawing has skyrocketed to $1 billion.
This is only the fifth advertised Powerball jackpot to reach $1 billion, lottery officials said.
The deadline to buy tickets for today鈥檚 drawing varies depending on where you buy, but it鈥檚 typically one to two hours before the drawing takes place at 10:59 p.m. ET.
A winner who snags the billion-dollar prize can choose the annuitized option, with payments spread out over 29 years, or the lump-sum option of $483.8 million. Taxes must be paid either way.
It鈥檚 been three months since anyone won a Powerball jackpot. That lucky player in Michigan snagged an $842.4 million prize on January 1.
The overall odds of winning a Powerball prize in any amount are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
If you do miraculously hit the jackpot, try to stay sane聽.
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