If you’re dreaming of winning the jackpot lottery, you may be interested to know that there are strategies you can employ to increase your chances of winning. Lottery winner Richard Lustig has shared his winning strategies in a full video guide and a book. These methods aren’t magic, but they can help you improve your odds of winning by improving the number of tickets you purchase and avoiding common pitfalls.

One of the most important decisions that lottery winners must make is how to receive their prize. Most lottery games offer winners a choice between a lump sum payout and an annuity that pays out annual payments over 20 or 30 years. Most winners choose the lump sum because it gives them more control over their money, and they can invest it to make more than the approximate 5-percent interest that the annuity would earn.

A few responsible lottery winners dump any cash they’re not spending into safe investments, such as real estate, index funds, mutual funds and hard assets, Kovach says. This helps preserve and even grow their wealth over time. Others invest their winnings in a combination of these options, as well as in speculative investments that have higher returns but also carry more risk.

If you’re unsure how to manage your newfound wealth, a good start is seeking the advice of experienced legal and financial professionals. They can help you make sound decisions about taxes, investments, asset management and more. To keep up with the latest news on your favorite topics, you can follow NerdWallet writers on our My Writers page.