PepsiCo has upped the stakes in the Who wants to be a Millionaire? scenario with a $1billion (€0.8bn; £0.5bn) give-away.

The soft drinks giant has tied-in with the ABC network to launch the Play for a Billion sweepstakewhich it claims is television's biggest promotion.

"This far-reaching promotion taps the tremendous promotional power available to ABC and Pepsi on TV, the internet and retail outlets nationwide," said Mike Benson, ABC's senior vice-president of marketing.

Out of the millions expected to enter the sweepstake, only 200 participants will be chosen. The finalists will then compete on a national television show slated to air on 12 September and hosted by Damon Wayans, star of comedy series "My Wife & Kids".

One of the finalists will be guaranteed $1m. Whether he or she will walk away with the $1bn jackpot is another matter.

The promotion is being supported by a TV commercial featuring Wayans and created by BBDO, Pepsi's long-time lead agency.

Data sourced from: Brand Republic; additional content by WARC staff