Prompt Cast
The Spanish Christmas Lottery: A Tradition of Generosity and Community
TLDR The Spanish Christmas Lottery, also known as El Gordo, is the world's largest lottery in terms of total prize money, with a cash payout of 2.38 billion euros in 2020. Unlike American lotteries, El Gordo prizes are distributed among the community, with each winning number receiving about 4 million euros per ticket.
Timestamped Summary
00:00
The Spanish Christmas Lottery, El Gordo, gives away over double the cash prize of the biggest American lotteries.
01:22
Lotteries have a long history and have been used to fund various projects, and while there have been billion-dollar jackpots in the US, the actual cash payout is significantly less due to discounts.
02:35
The Spanish Christmas Lottery, also known as El Gordo, is the biggest lottery in the world in terms of total prize money, with a total prize money of 2.38 billion euros or 2.897 billion dollars in 2020, and unlike American lotteries, the prizes are all in cash, not annuities, and the lottery only has 100,000 numbers.
03:55
The tickets for the Spanish Christmas Lottery are often purchased by businesses and then subdivided and sold to customers and other people in town.
05:17
The Spanish Christmas Lottery, El Gordo, is popular because if the winning number comes up, everyone in the community wins and splits the prize, with each winning number getting about 4 million euro per ticket.
06:34
The balls are taken out of the hopper by children from a nearby elementary school, who then sing the numbers written on each ball, and the process of selecting the prizes goes on for hours until all 1,807 prizes are chosen.
07:51
The La Primitiva Lottery, which is even older than El Gordo, was first held in Spain in 1763.
