Are you feeling lucky? Check the winning Powerball numbers for August 23 and find out if you will be smiling all the way to the bank with your $700 million jackpot winnings. Wednesday's jackpot is the second largest in Powerball history and, if no one wins tonight, there's a good chance it will become the largest jackpot ever, rising to an estimated $1.6 billion for the next drawing.

Find the August 23 Powerball results below. Remember, you must match all five white balls drawn and the red Powerball to win the jackpot. And there's always a chance that you may have to share the jackpot but there's plenty to go around.

Powerball results

Here are tonight's winning numbers: 07-26-16-23-06, PB 04.

There is no word yet if there is a winner (or winners). With a jackpot this large, it takes several hours for lottery officials to verify if any tickets matched the winning numbers.

Did you win?

Go celebrate! But first, sign the back of your ticket and keep it in a safe place until you can consult with a financial planner and/or an attorney. While some people head right to lottery headquarters but $700 million is a massive amount of money. You're going to need some sound financial advice before you Cash in your ticket.

There's a lot to think about, including how you want to get paid. The Multi-State Lottery Association offers a 30-year annuity or a lump sum payment.

Keep in mind, you won't get the entire $700 million jackpot if you want to walk away with all of the cash instead of spreading your payments out over 30 years.

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And don't forget, your winnings will be taxed, so that will shrink your payout by quite a bit.

Here's how much you will take home if you are the $700 million Powerball jackpot winner.

30-year annuity: You will take home the entire $700 million jackpot, split up into 30 annual payments. At least 25 percent will be withheld for federal taxes. USA Mega reports that the average yearly payment will be $17,500,000 after federal taxes. An addition amount will be deducted if your state taxes lottery winnings.

Lump sum payment: The cash payout is based on the cash value of Wednesday night's jackpot — $443,300,000. After federal taxes, you will take home $332,475,000 (before state taxes).

If you didn't win the Powerball jackpot, double-check your ticket. There's always a chance that you won a non-jackpot prize ranging in value from $4 (just the Powerball) to $1 million (all five white balls).