The latest Powerball jackpot is worth about $400 million, the fourth largest jackpot in the history of the Powerball game.
A major revamp last year boosted the cost of a Powerball ticket to $2 from $1, and it also has led to sweeter jackpots in smaller amounts of time. Since March 2012, when a record-setting $656 million Mega Millions jackpot was awarded, the U.S. has awarded some of its largest lottery prizes ever. That includes Powerball's largest jackpot of $590 million, which was won by a Florida widow in May.
The latest winning ticket was sold in South Carolina.
Payouts of this size are rewriting the conventional financial wisdom about how the lucky winners can best handle their good fortune, from tax advice to the shape of their reconfigured lives. "Buy that Rolls and save the rest" has become "Lawyer up and start a foundation."
Click ahead for the new rules for the Powerball age:
By Paul O'Donnell
Posted 8 August 2013;
Updated 19 September 2013