Although the anonymous winner technically won a $2.04bn prize, that doesn’t mean they will receive that amount, as the choice to receive the winnings as a single lump sum payment would mean they’d walk away with $629m after taxes, according to Forbes.

If the winner chooses to receive the money as an annuity, or a series of 30 payments paid over 29 years, they would receive around $68m a year, the outlet reports, which would then be reduced to “around $43m by federal taxes and could be cut further by state and city taxes depending on where the winner lives”.

Despite the hefty taxes, the lucky lottery player has still made history as the winner of the biggest jackpot prize in history.

While the life of the Powerball jackpot winner will undeniably change now that they are $2bn wealthier, a former lottery winner revealed that there are some things that don’t change when you win the lottery.

According to Timothy Schultz, a podcast host and YouTuber from Iowa who won a $29m Powerball jackpot in 1999, it is worth remembering that there are some things money doesn’t change, such as “who you are as a person”.

“If you were unhappy before, you might be unhappy after,” he said. “There are some very wealthy people in the world who are extremely unhappy. Money can be positive, but it doesn’t necessarily fix all problems.”

According to lottery officials, thousands of people increased their wealth by $100, as 6,054 tickets were sold with numbers matching all four numbers except the Powerball, while an additional 15,376 tickets were sold that matched three of the numbers and the Powerball.

While only one individual, who has yet to be revealed, walked away with the jackpot-winning Powerball ticket, there were a number of players who won smaller prizes.

According to Lottery officials, 22 tickets sold across the country were worth at least $1m each. The tickets were sold in California, Florida, Georgia, Louisiana, Massachusetts, Maryland, Michigan, Missouri, North Carolina, New Jersey, Ohio, Oregon, Pennsylvania, South Carolina, Texas and Washington.

An additional 225 tickets sold are worth $50,000, after the numbers matched four numbers and the Powerball.

As for what to do if you win the lottery, experts say one of the first things you should do is consult with a financial advisor and a lawyer.

And although it may be difficult to keep the exciting secret, lottery winners are also advised not to tell anyone but their immediate family about their winnings.

While players have remained eager to learn more about the winner of the Powerball jackpot, many shared their happiness over the $1m prize awarded to store owner Joseph Chahayed, who moved to the US from Syria in 1980 with his wife and two children, according to CNN.

“I think I’m happier for the store owner than I am for the Powerball winner,” one person tweeted, while another said: “So happy for him!!”

Interestingly, if the winner had purchased the winning lottery ticket in a different state, they may not have been identified in the future, as 11 states allow lottery winners to stay anonymous.

These states include: Arizona, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Minnesota, Mississippi, Missouri, Montana, New Jersey, North Dakota, Ohio and South Carolina.

While people around the country are understandably interested in the identity of the $2bn grand prize winner, we may have a while to wait before we know any details at all about the individual, as the California State Lottery website notes that winners have a year to claim their prize.

However, the name of the winner will eventually be released in accordance with California’s Public Records Act, USAToday reports. In addition to the individual’s name, the winnings, “including the gross and net installment payments, are all subject to disclosure,” the outlet states.

As updates about both the Powerball winner and the Midterm Elections continue to trickle in, some have questioned why the counting of votes takes significantly longer than the time it takes to identify the time and place a winning ticket was sold.

“It’s weird that they can track the wining ticket down to the location of sale and the exact time of purchase and how many winners within 30 minutes of drawing the numbers but our elections! It takes days, weeks or months to determine a winner! Fix the process,” one person tweeted.

As for the “technical” difficulties that held up Monday night’s drawing earlier this week, it has since been revealed that Minnesota was the state behind the delay.

The lottery said the delay was due to issues with its sales verification due to “unprecedented lottery interest,” according to The Hill.

“The delay was necessary to confirm the Powerball drawing could be conducted securely and accurately,” the lottery stated. “At no time was the integrity of the process compromised.”

The explanation comes after the Multi-State Lottery Association said the delay was caused by one of the 48 participating lotteries, but did not specify which state. “This has happened a few rare times before - just not when the jackpot was at a newsworthy amount,” the lottery association said while announcing the delay.