Today is the day you'll want to pick up a Powerball ticket. The current Jackpot for drawing is for 700 million dollars which is the second highest in history.

"What else are you going to spend two dollars on, a cup of coffee,” said Megan Gradocci, a Beaumont resident.

The odds of winning are one in 292-million people which is comparable to being that one person out of the entire population in the country to win.

Federal income taxes will take a 25 percent bite from winnings. However, state taxes vary, so the amount winners will pay in taxes depend on where they play.

"This is going to change who ever life,” said Gradocci. “So why not just spend two dollars."

The state of Texas doesn't assess state taxes on lottery prizes, which means the winner can keep more in their pocket.

The lottery winner will be announced tonight at 10.