Plus $1 billion...

[popeyespappy]

Have I got this right? If you win the jackpot and want what you have won, you have to be paid in instalments, or they rip you off and give you 900,000,000. How rude.

The taxes are taken out right then instead of over thirty years. End result is the same unless tax rates change over the three decades.

That's not right. If you take the cash option the payout is only about 60% of the jackpot amount. The only way to collect the entire amount is select the annuity.