‘El Gordo’ Lottery in Spain Spreads Riches Worth $2.6 Billion

Dating to 1812, the lottery has become a major part of Spain’s festive calendar, developing an array of traditions over the years. El Gordo is run by the Spanish lottery, and after the winners are paid, the proceeds fund the state budget.

In 2011, as the country slipped into economic crisis, the Socialist government considered privatizing part of the enterprise but never went ahead with the plan.

Rather than creating a few big winners, the prize draw is meant to allow as many people as possible a small win or to at least break even.

In the months leading up to the draw, local bars, companies and associations split tickets among themselves, hoping to celebrate the windfall with their patrons.

Spaniards are often loyal to particular vendors, sometimes making an annual trek to stores considered to be particularly lucky. Numbers echoing the dates of major events, such as the death of a pope or a royal wedding, often sell out.

Article source: https://www.nytimes.com/2019/12/22/business/el-gordo-lottery-spain.html?emc=rss&partner=rss