Once you’ve won a lottery jackpot, it’s time to start building your dream team. Whether you want to pay off debt, help your family, give to charity, buy big-ticket items for yourself, or start a legacy, there are many professionals you can turn to for help. Financial advisors, estate planners, certified public accountants, and private bankers can help you handle large sums of money. An insurance expert can also advise you on how to handle the money after you’ve won it.

In 2015, lottery officials began to play with the odds to make it more likely that players would win a large lottery prize. These changes increased the chances of winning the jackpot, but also made top prizes more attractive. One lottery game was the first to adopt a new formula. Powerball uses five white balls and a red Powerball, and players must match all six to win the jackpot. If no one matches all six balls, they can still win smaller prizes by matching just the red Powerball.

Many people decide to collect their large Lottery jackpot in a lump sum, minus taxes. However, the actual amount is much lower, because lottery winners who elect to take the annuity option typically receive half the advertised jackpot amount. The AfterLotto payout calculator works out the real cash value of your winnings, including state and federal taxes. Annuity payments are also better for those with poor self-control. The lottery payout calculator is helpful when deciding which way to approach your prize winnings.