News24

Spain Christmas lottery dishes out cash

2011-12-22 20:34

Madrid - Days before Christmas, a tiny town of 2 000 in cash-strapped Spain found itself richer by €720m ($940m) on Thursday after scooping the top prize in the nation's famed Christmas lottery.

Billed as the world's richest, the lottery dishes out some €2.52bn ($3.29bn) to winners across the nation.

The top prize - dubbed "El Gordo" (The Fat One) - was split among the holders of tickets bearing the number 58268. The number appeared on 1 800 tickets, giving winners €400 000 for their €20 ticket.

The state lottery agency said all 1 800 tickets with that number were sold in the town of Granen, located in the arid and barren north-eastern Los Monegros area.

The news brought the town's residents out onto the street to dance, sing, hug each other and spray sparkling wine all over.

Recession

"It's brilliant!" Pilar Azagra, who runs the town's lottery store, told Spanish National Television. She appeared a bit stunned.

"I haven't had time to react, the number came out and then people started flocking to the shop," she said, adding that many in her family had bought €20 tickets.

Azagra said the windfall was more than welcome as several companies in Granen had closed because of the economic crisis forcing many residents to seek employment in neighbouring towns and cities.

Spain is struggling to emerge from a near two-year recession that has left it with a eurozone-high 21.5% unemployment rate.

The Gordo lottery aims for a share-the-wealth system, rather than a single jackpot, and thousands of numbers yield at least some kind of return. Lots of people chip in together and buy shares of several or many tickets, meaning it is common for multiple prizes to go to the same town.

Other lotteries have larger individual top prizes but El Gordo is ranked as the world's richest for the total sum paid out.

The winning number was picked and announced by pupils of Madrid's Saint Ildefonso School in a nationally televised draw.

Since it began in 1812, the December 22 lottery has become a favourite holiday tradition. This year, it sold an estimated €2.7bn in tickets and the state lottery agency estimated per-capita spending of about €70.

Spain holds another big lottery on January 6 to mark the Feast of the Epiphany. It is known as "El Nino" (The Child), in reference to the baby Jesus.