Thursday, December 22, 2011

El Gordo Descends on Small Town of 2,000

The town of Granen, with only 2,000 residents found itself with a rich bonanza, as the state lottery agency announced that all the shares of the winning El Gordo number was bought there. Located in the northestern Los Monegros area, the town has been struck hard by the financial crisis, and this good luck is very welcome news. Residents piled out on to the streets dancing, singing and hugging one another when the top prize was announced on TV. The top prize of €720 million will be divided among 1,800 ticket holders.

The El Gordo Christmas lottery is considered the world's richest lottery draw for the total amount paid out as prizes. The total cash prize this year amounted to €2.52 billion. However, considering the large sum involved, it gives out the prizes in a share-the-wealth scheme. Lottery tickets are sold as shares of a number. Each ticket costs €200, and there are 10 shares to a ticket. Players normally buy shares of several tickets. It is also customary for all the shares of a ticket to be sold in a single town.

From Associated Press

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