If you would like to start 2015 with an extra $162 million in your bank account, then you should try your luck at the Powerball lottery jackpot. The drawing will take place Saturday night at 11 p.m. ET.

The odds of winning the jackpot, which equates to a $105.5 million cash value, are approximately 1 in 175.2 million. However, players have a better chance of winning a smaller prize since the odds are 1 in 32.

Winners have the option of either accepting an annuitized prize, paid out over 29 years in 30 payments, or one lump-sum payout.

It costs just $2 to get in the game, and an additional $1 will allow you to add the Power Play multiplier per play. The $2 tickets allow players to pick five numbers from one to 59 and a Powerball number from one to 35.

No one won the $146 million Powerball jackpot on Wednesday, Jan. 7. The lucky numbers were 14, 15, 47, 49, 59 and Powerball 10.

Powerball is played in 43 states, in addition to the District of Columbia and the U.S. Virgin Islands. Depending on the state you're in, the draw entry will close either one or two hours before the actual drawing, according to the Powerball website. Powerball winning numbers are drawn live every Wednesday and Saturday night at 11 p.m. ET.

There are nine ways to win in the Powerball lottery, but players need to match all five white balls in any order and the red Powerball to win the jackpot. Second prize winners who match the five white balls in any order are rewarded with $1 million paid in cash. Any player that matches the red Powerball is also a winner.

The drawing will be live online or the winning numbers can also be seen on the Powerball website.

Powerball draws can also be seen on hundreds of TV stations across the nation. Check here to see what station will broadcast it in your state. Officials will also post the drawings on YouTube.