The Powerball Lottery jackpot has swollen to the sixth-highest in lottery history to $400 million.  UPDATE!  The jackpot has grown to $450 million!  UPDATE #2!  The jackpot has grown again to $500 million with a cash option now of $306 million!

As you think about your odds in wining, which are 1 in 292.2 million, Good Morning America's TJ Holmes says instead you should be focusing on the possibilities of what to do with your winnings.

The Powerball Lottery drawing will be held Wednesday at 10:59 p.m. with ticket sales ending at 10 p.m. Each $2 ticket could win you $400 million as an annuity, or you can take the cash payout, which would be about $245 million.

Matching all five numbers (numbered 1 to 69) and the red ball (numbered 1 to 26) isn't the only way to win -- there are nine different ways to win big with Powerball.

When you win, it's important to go ahead and sign the back of the ticket, because if it falls into someone else's hands and they sign it, well, it becomes theirs. Don't tell anyone you've won, remain as anonymous as you can because where's there's money, trouble often follows.

Invest your winnings and seek the advice of a financial planner. Good luck on winning one of the largest lottery prizes in history, and if no one wins Wednesday, we'll be talking about the next Powerball Lottery drawing on Saturday, and there's no telling what the jackpot amount will be up to then!

If you win, what would be the first thing you would do with your winnings? Let me know by leaving what you'd do in the comment section below.

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