During last holiday season, hundreds of people gathered around as they waited for the lottery draw for Spain’s national lottery game, the El Gordo, hoping to win huge and forget the ongoing economic woes. El Gordo is the biggest lottery game in Europe in terms of cash prizes. This lottery game, which is literally means “The Fat One”,paid out €2.47 billion in cash prizes in 2012, which was lower than the prizes given away in 2011. During the last year-end draw, the winning number was 76058. Many lottery players spend so much to buy lotto tickets and some have spent hundreds of euros to have better chance of winning, but to no avail.
The current economy of Spain is the fourth biggest in the Eurozone and is in directpassages of need as the Spanish government is experiencing pressure from European Union to present billions of euros in the savingsamidstthe speculation of the government needing bailing out. Despite the economic problems of the country, to go along with the housing industry’s collapse in 2008, the lottery aspect (such as El Gordo) has only suffered only minor losses from the said crisis. Data showed that the ticket sales for this national lottery dropped 3.25% since 2008 according to Juan Antonio Gallardo, the commercial director of the El Gordo. During these times, lotto players are spending €52 on the average in buying tickets, which is lower by €5 last year. The cost of the ticket to play for El Gordo is €20.
The El Gordo draw was always conducted on December 22 since 1812 is reflectedas the spinoff for the Christmas season. The lottery is created in a way such as several people all over Spain will get chance to win big and hence, there is no single jackpot.