Powerball lottery fever strikes as jackpot reaches $750 million recently

The Powerball Jackpot has risen to a staggering $750 million, sending the nation into a frenzy.

This is the fourth-largest lottery jackpot in US history, and the largest ever Powerball jackpot. The drawing will take place on March 27 at 10:59 p.m.

ET, and players have until then to purchase a ticket for a chance to win the massive jackpot. Players have the option of buying a single ticket for $2, or pooling their money with friends and family to buy multiple tickets.

The Powerball lottery is played in 44 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The odds of winning the jackpot are one in 292.2 million, but the hype around this particular drawing has been so great that many people are buying tickets in the hopes of becoming a multi-millionaire.

The winner of the jackpot has the option of taking their winnings in a lump sum or in 30 installments over 29 years.

The lump sum option would be approximately $465 million, after taxes.