El Gordo de Navidad is just one of the biggest and wealthiest lotteries on earth with a prize pool upwards of EUR2 billion. The lottery, formally called Sorteo Extraordinario de Navidad or Loteria de Navidad, started in 1812 and has emerged as a yearly Spanish custom.
The draw procedure includes one ball being chosen from every machine concurrently and proceeds until the prize bombo is depleted. The procedure takes hours to finish and has turned into a notable societal event in Spain's yearly schedule. To enhance the ambience and enjoyment, kids from the San Ildefonso School in Madrid pick the balls and perform the final results.
The draws, which are locateded in Madrid on 22nd December annually and thought about a nationwide occasion, stand apart from conventional lotteries in two essential elements. Compared to other lotteries, whose draws are typically short and finished with rather small excitement, El Gordo de Navidad draws take hours to finish because of the high number of prizes and the style is nearer to a raffle than a basic lottery.
The balls are taken from two units, called 'bombos', which each carry numerous balls. One bombo includes balls etched with a pre-determined number sequence, while the additional bombo includes balls etched with a prize worth. Each pre-determined number is published on various tickets so, when a prize is chosen to refer the number drawn, the prize funding for that tier will be distributed among every one of the players whose ticket matches the number drawn.