Wednesday's drawing will have the seventh largest prize in US history

The new prize for Wednesday's drawing would be the third-largest for Powerball and the seventh-highest in American history.

A single player who matches all five numbers plus the Powerball number chosen can choose to accept either the $1 billion jackpot,

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which will be paid out over 29 years in annual installments,

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The most recent Powerball jackpot winner received a top reward of roughly $253 million on April 19.

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Since then, 38 lotteries have been place without a top prize winner. Until someone wins, the jackpot will keep increasing.

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IF YOU DO WIN, WHAT SHOULD YOU DO

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The winning ticket should first and foremost be secured by keeping it in a secure location, such as a fireproof safe.

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Then, Fletcher suggested that you begin assembling your "team".

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Then, Fletcher suggested that you begin assembling your "team".

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