The $1.5B Powerball jackpot may seem huge, but federal and state taxes can cut winnings significantly. This article explains after-tax payouts and state rules.

Powerball jackpot for Dec. 20 drawing is the largest-ever lottery prize available during the holidays and currently seventh-largest of all time.

Saturday's prize is the fifth -biggest Powerball and seventh-largest U.S. jackpot. "This jackpot is set to deliver the ultimate windfall," according to Matt Strawn, Powerball's product group chair and the Iowa Lottery's CEO. No ticket matched all six winning numbers -- 25, 33, 53, 62, 66 and Powerball 17 -- so the jackpot increased as a result.

There was no Powerball jackpot winner last night, but thousands of Iowa Lottery tickets won prizes. Check the winning numbers before the next drawing.

So you won the $1B-plus Powerball jackpot, expert say remain silent, hire a team of pros and invest in your future. Here is what else they said.

You have a 1 in 292.2 million chance of winning the Powerball jackpot. If you overcame those odds and now have a jackpot-winning ticket, experts say you should immediately do two things: sign the back of the ticket, to ensure only you can claim it, and keep your victory a secret for as long as possible.

Saturday’s Powerball jackpot has soared to $1.5B, the fifth-largest in game history, after 44 drawings without a top prize winner.