MADISON, Wis. (CBS 58) -- The Wisconsin Lottery has launched its May Madness Raffle, offering a chance to win a top prize of $50,000.

The lottery game includes additional prizes of two $10,000 awards and 815 other payouts.

With 75,000 tickets available, the raffle tickets are priced at $5 each and, according to the Wisconsin Lottery, have a tendency to sell out quickly.

They must be purchased by May 30 or until sold out and are available at all lottery retailers across the state.

Tickets for the raffle began selling in numerical order starting with 00001. The drawing is set for May 31, with the winning numbers to be posted that evening on the official lottery website and at retail locations.

Last year's top prize was claimed by a ticket sold at a Kwik Trip in Turtle Lake, marking the largest lottery win for that location.

The odds of winning the main prize are 1 in 75,000, with varying odds for the additional prizes.

Additional information can be found by visiting the Wisconsin Lottery online.