>Isn't it that you pay close to 50% in taxes?

Although I don't think the tax rate is that high, it's certainly another possibility.
>
>>One possibility is that there was another winning ticket.
>>
>>Another possibility is that the winning amount is described as the total amount of a series of payments (usually over 20-30 years depending on the particular lottery). You have an option on getting either the annuity or cash value.