Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAmaris Encinas, USA TODAYThu, August 6, 2026 at 2:47 AM GMT+2 6 min readMillions of dollars, $786 million to be exact, are on the line.As lottery players await the Wednesday, Aug. 5 drawing and the chance that their $2 ticket could be worth nearly three-quarters of a billion dollars, financial planning for a potential jackpot win should be on their mind, especially if they're feeling lucky.With the prize pot nearing the top 10 largest jackpots in the game's history, having a game plan in place is not only smart, but it's also necessary. Claiming that much money, according to financial experts, will likely draw taxes, grifters, friends and family members.A lottery player is seen clutching Powerball tickets ahead of the Dec. 17, 2025, drawing.Therefore, the first and most important piece of financial advice is: "Don't shout your win from the rooftop," Rob Burnette, financial and investment advisor at Outlook Financial Center in Troy, Ohio, previously told USA TODAY."If you're lucky enough to win the lottery, keep it quiet. Get organized and make a plan. Consider Here's what to know about PowerballHow much is the jackpot, and what are my odds of winning?A Powerball jackpot of $786 million is up for grabs ahead of tonight's drawing. It has a cash value of $341.6 million and is the largest Powerball jackpot since a $1.817 billion prize was won in Arkansas on Christmas Eve.While the odds of getting struck by lightning are considerably higher than the odds of hitting all of the winning numbers and taking home the jackpot, there's no harm in trying. You could be the one in 292.2 million to take the prize home.The jackpot was last won in May by two players, one in Florida and one in Texas, who split the $20 million prize, according to Powerball.What to do if you've won the Powerball jackpotLie low for a while and keep the ticket secure, maybe in a safe, until you claim the prize at your state's lottery headquarters, according to financial advisors and experts."The winner is not a true legal winner until the ticket is presented to lottery officials," said Andrew Stoltmann, an attorney who represented six lottery "losers" that lost their winnings due to various investment scams or poor management. "If the ticket is lost or destroyed, the winner is, as a matter of law, out of luck."Steve Azoury, owner of Azoury Financial in Troy, Michigan, advised winning players to hire a tax attorney, a tax accountant and a financial advisor."They'll work hand in hand to figure out (a) plan," Azoury added.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info