saturday night's Powerball jackpot has lottery players dreaming about what they will do if they win $535 million. Aside from the daunting odds (1 in 2.9 million), there are a few things you should know before you plunk down $2 for a ticket.

The August 19 Powerball jackpot winning numbers won't be drawn until 10:59 p.m. ET. That means you have some time to get to the store to buy a ticket if you live in one of the 44 states that offer the popular lottery game. Tickets are also sold in D.C., Puerto Rico, and the U.S. Virgin Islands.

Take a selfie

Bring a pen with you when you head out to buy a Powerball ticket. Sign the back of the ticket immediately.

If you are lucky enough to pick the winning numbers, your signature will ensure no one else can cash the ticket.

Financial planner Robert Pagliarini tells the Business Insider that all lottery tickets are "bearer instruments." If you misplace your Powerball ticket and it's not signed, anyone can cash it in at lottery headquarters. In addition to signing the ticket, he suggests that you take a pic of yourself with the ticket.

Be prepared

If you win, there's always a chance that you will have to split the jackpot if someone else has the same numbers as you do. Be prepared to share your new-found wealth with another lucky ticket holder.

Remember last year's $1.586 billion Powerball jackpot? Three people had the winning numbers, so the jackpot was split three ways. Still, it's a giant windfall so there'a nothing to complain about.

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Making millions from a $2 investment is a win-win situation.

Uncle Sam will take his share

Powerball jackpot winners are often in shock when they find out they don't win the whole jackpot amount. The cash value of Saturday night's $535 million jackpot is $338 million. If you have the winning ticket and don't share the pot with anyone, you will take home even less than $338 million.

The only way to get the full jackpot is to take the 30-year annuity option. However, you're still subject to taxes and your payments will be spread out over 30 years. It's a good idea to ask a financial advisor which option is the best for your situation — cash or annuity.

Either way, Uncle Sam will snag his share before you get your money. According to USA Mega, if you take the cash option, 25 percent will be deducted for federal taxes.

The lump-sum payment (based on the cash value of the jackpot) after federal taxes would be $254,100,000. Keep in mind, if you live in a state that taxes your lottery windfall, the state will take their share as well.

What about an annuity? Before taxes, the Powerball jackpot winner can expect to get average annual payments of $17,833,333 each. After federal taxes are taken out, the annual check is reduced to $13,375,000 (before state taxes).