Powerball Jackpot tops $1 billion dollars. Here is what to know if you win.

With the Powerball jackpot now surpassing $1 billion, Borderland residents are lining up for their shot at a life changing prize. But if you’re lucky enough to win, what happens next depends on where you live and what you do first.

In Texas, you have 180 days to claim your prize. In New Mexico, the deadline is just 90 days. Lottery officials advise signing the back of your ticket immediately and storing it in a secure place. Before coming forward, both the Texas Lottery Commission and Powerball.com recommend contacting a financial advisor or attorney.

Privacy laws vary by state. In Texas, your name and city of residence must be made public. In New Mexico, winners of more than $10 million can remain anonymous. Taxes also differ: Texas has no state income tax, while New Mexico withholds 5.9% in addition to federal taxes.

Choosing between a lump sum and annuity payments is another major decision. Experts say it’s best not to rush use the time to plan carefully with professionals.

The odds of winning the jackpot? Just 1 in 292.2 million. Still, many locals are playing for the dream. One man told ABC-7, “I would keep it a secret.” Another shared, “I’d support preschool for all in El Paso.”

The next drawing is at 9:59 PM Mountain Time. And while most tickets won’t win, the excitement continues to grow.