BAY COUNTY, Fla. (WMBB) — Someone could become an instant billionaire on Wednesday night.

The Powerball prize stands at an estimated $1.2 billion.

People across the Panhandle are snapping-up tickets for Wednesday’s Powerball lottery drawing and making plans for how they’d spend the money.

They have about one in 300 million chance to take home the jackpot.

“I bought some tickets because I’m going to win the next one, Panama City Resident Juan Lopez said. “And I want to help out a lot of people in my country and my family and I have a lot of dream to do.”

Powerball tickets are only $2 a piece.

Lopez bought three more tickets Wednesday, hoping to increase his luck as the jackpot continues to grow.

“I already have the property that I want to buy too,” Lopez said. “On the beach side. It’s a big one, like five acres. It’s a nice house of our dreams.”

Another local said he’d spend the billion dollars several different ways.

“Take care of my family, of course, but maybe give a little to the church,” Resident Jaxson Goff said. “I’d probably buy a sports franchise, maybe the Rays, turn them around. They have a good team. A beach house in the keys would be nice and maybe a mountain lodge in Colorado. I like to snowboard, if I can ever get up there. Beach house here, you know, open La Vela.”

A single winner will receove $1.2 billion paid out over 29 years.

Or they can decided to take the one-time cash payout, which most do, and walk away with more than half a billion dollars before taxes.

“Whoever wins, it’s going to be a lucky person,” Goff said. “And I’m hoping they make smart decisions, maybe take care of their people and the community a little bit.”

To win the jackpot, winners must match all six numbers.

Wednesday’s drawing takes place at 9:59 p.m.

If there is a winner, it will be the second largest jackpot in Powerball history. If not, the jackpot will continue to grow for the next drawing Saturday night.