NEW YORK (CBSNewYork) – On Tuesday, a record $1.6 billion Mega Millions jackpot was up for grabs.

A life-changing amount of money if you beat the odds and have the winning ticket, but only if you match all five numbers and the Megaball.

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The winning combination was 5, 28, 62, 65, 70, and a Megaball of 5.

Don’t feel too bad you didn’t win the jackpot. You’re actually more likely to win an Oscar or get killed by a falling vending machine than hitting Tuesday’s grand prize.

Just in case you struck gold however, we asked the experts what should you do next?

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If Tuesday’s big winner (if there is one) is like most, they’ll take the lump sum of about $904 million, before federal and state taxes.

First thing to do after getting over the shock of winning: sign the back of your ticket.

It doesn’t matter who paid for it, whoever signs the ticket gets the prize.

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Then put your ticket in a safe spot and hire a financial planner, attorney, or accountant.

Next step, redeem your prize at a claims center. Lotto officials say most stores can only give up to $600 in prize money.

Finally, go public.

That’s right, in New York State, lotto winners cannot stay anonymous if they want the winnings.

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Your odds of winning the jackpot, about one in 302 million, but hey, you only need one shot right? 

Lottery officials estimate about 75 percent of all the possible ticket combinations were sold for this drawing. That means there’s about a 25 percent chance we still don’t even get a winner.

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If you do beat the odds, you have up to a year from Tuesday to claim the prize money.