Charlotte man wins $1 million NC lottery prize

A Charlotte man spent $10 on a scratch off lottery ticket & won the 1 million dollar prize.  When it came to claiming his winnings, he had 2 options:

1) 50k a year for 20 years

OR

2) Take the lump sum which is $600,000 but after state & federal taxes it's only $417, 009

He took the "LUMP SUM" but I'm curious to know, which option would you have taken & why?