The time has come -- the tripod in the Nenana Ice Classic officially fell at 1:18 p.m. on May 1 with a jackpot of $225,000, according to the organization's website. 

The Nenana Ice Classic Facebook page made the big announcement with a live video. 

The contest time is set to Alaska Standard Time and does not change with daylight saving time.

The prize money will be divided evenly among all winners, according to the rules.

If no single winner has chosen the exact time, the closest time on either side of 1:18 p.m. will be declared the winner once all of the tickets have been processed.

The official winner(s) will be announced once officials sort through guessed that were submitted. In the meantime, the Nenana Ice Classic Facebook page fielded a question Tuesday afternoon asking who guessed the winning time. 

 
User: Nenana Ice Classic To: link

 

The event began in 1917 as a bet among railroad engineers waiting for river ice to break up. It has paid out more than $14 million in its history.

Participants pay $2.50 per guess of the day, hour and minute the ice will go out.

Associated Press contributed to this story. 

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