With the Mega Millions lottery jackpot reaching $1.35 billion last week, it's been easy to overlook the Powerball jackpot growing to $439 million ahead of Wednesday's draw.

The Powerball jackpot is nowhere near its all-time U.S. jackpot record of $2.04 billion set last November, but nearly half a billion dollars isn't chump change, either.

However, that's easier said than done. The odds of winning the Powerball jackpot by matching all numbers with the five white balls and red Powerball drawn are 1 in 292,201,338, according to the lottery.

While the odds are stacked heavily against ticket holders, you're more likely to win lesser prizes ranging from $1 million to $4:

• $1 million prize: Match five white balls (1 in 11,688,054)
• $50,000 prize: Match four white balls and the Powerball (1 in 913,129)
• $100 prize: Match four white balls (1 in 36,525)
• $100 prize: Match three white balls and the Powerball (1 in 14,494)
• $7 prize: Match three white balls (1 in 580)
• $7 prize: Match two white balls and the Powerball (1 in 701)
• $4 prize: Match one white ball and the Powerball (1 in 92)
• $4 prize: Match the Powerball only (1 in 38)

However, if you spend an extra dollar on a $2 ticket for the lottery's Power Play multiplier, you could increase all these prize amounts by 2, 3, 4, 5 or 10 times. The Power Play prize multiplier is randomly selected before each drawing.

There are some exceptions to consider, though: The $1 million multiplier prize amount is capped at $2 million and the 10 times multiplier is only in play when the advertised jackpot annuity is $150 million or less.    

The next draw is Wednesday at 10:59 p.m. ET. If there's a winner the jackpot will reset to $20 million, otherwise the jackpot funds will rollover to the next draw, which is Saturday at 10:59 p.m. ET.

If you do end up winning big, here are three steps to consider before claiming the prize.

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