$1.5 billion: Lump sum vs payout over 30 years?

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INDIANAPOLIS, Ind. (Jan. 12, 2016)-- Powerball fever is at a pitch and the jackpot continues to grow. The Hoosier Lottery announced Tuesday that the jackpot grew another $100 million and is now sitting at $1.5 billion.

There is so much excitement, the Hoosier Lottery website crashed when the jackpot hit a billion dollars. The website currently shows the winning numbers, but Hoosiers can't enter second chance drawings until traffic slows down.

"Woah, traffic jam! It appears that lots and lots of people are trying to access the site at once!" the site tells visitors. "No worries though because you can still find updated winning numbers and jackpot information below or by downloading the Hoosier Lottery App."

Lottery officials are hoping someone hits the Powerball on Wednesday.

If you win the Powerball, should you take the lump sum or spread it out over the next 30 years?

New York based attorney Jason Kurland calls himself "The Lottery Lawyer." Based in New York, Kuland represents lottery winners all across the country and hopes to get a call this week from the Powerball winner.

If he does, he'll advise the winner to take the lump sum.

"Even if you take the money and put it in the bank at the most secure safe investment you can have, you will make a lot more money than lottery will pay you out over time," said Kurland. "Without question, lump sum."

In this case, that's a $930 million cash value.

The only time he would advise taking the annuity option, is if you don't trust yourself. There are lottery winners that have gone broke in a short amount of time.

"People don’t know how to handle this kind of wealth. It could be very dangerous," he said. "But even then I would say consult a financial planner and we can put mechanisms in place where you can’t take a certain amount out."

The Hoosier Lottery says there's no shame in taking the payout over the next 30 years. Plus, the payments are nothing to sneeze at.

“The annuity option is pretty impressive," said Hoosier Lottery Spokeswoman Betsy Gutierrez. “I don’t have updated figures for $1.5 billion, but at $1.4 billion your smallest check the first year, is going to be over $21 million. And every year it’s gonna go up to the point that in the 30th year, you’re going to get more than $80 million.”

Before you spend responsibly, the Lottery reminds everyone to play responsibly.

And don't forget, you can catch the Powerball drawing at 10:59 pm Wednesday only on FOX59.