Look folks, the real reason that they advertise the annuity values is because it attracts more players than the Present Value. By the way, for those who don't know it, the amount advertised is the annuity value; how much you will have received at the end of a 29 year pay out period. The cash value is the present value of the 29 year pay out as of today, or what $50MM in 29 years is worth today; this is why for PB it is running about 50% of the annuity value.
I have run the analysis for both the PV and the annuity payments for 29 years, less the tax payments on a yearly basis. They work out to be about the same amount (with a little bitof variance).
Should you be lucky enough to win, decide at that point whether the cash or annuity option is the best choice for you. Personally, under $50MM, I would seriously consider the yearly annuity payment; over $50MM I would do the cash payment.
Ultimately, winning will require some soul searching as to what you may want to do with your life. I would submit that winnig the PB, or even MM for that matter, would require the assumption that the winner has a philanthropic responsibility to society to do the world good by their winnings, be it through medical, educational, or other civic endowments. Of course, that is primarily my opinion, and you know what they say about opinions?
Good Luck to all!!
CountingMan