Spain’s centuries-old holiday lottery, “El Gordo” (The Fat One), delivered over $2.8 billion in prizes this year during its annual drawing on Dec. 22. Held at Madrid’s Teatro Real, the event, a hallmark of Spain’s Christmas season, was broadcast live across the nation and globally streamed.

Unlike typical lotteries, El Gordo distributes winnings among thousands through a unique system. Families, friends, and colleagues often pool money to purchase tickets, which are pre-printed and sold in series. This year, the top prize of €400,000 ($416,588) was won by multiple holders of the number 72480, primarily purchased in Logroño, the capital of the La Rioja region, as noted on the lottery’s official website.

Employees in Valencia celebrate after successfully selling a portion of the winning numbers.

The second prize was €125,000 ($130,184), and the third €50,000 ($52,073). Celebrations erupted nationwide, with winners gathering to celebrate with friends and family, often toasting with bottles of Prosecco.

The tradition dates back to 1812, organized during the Napoleonic Wars and overseen by the Spanish government. Schoolchildren from San Ildefonso, a historic primary school, sang the winning numbers and prizes, a custom that continues to captivate audiences.

Tickets come in two forms: a full ticket (billete) costing €200 ($208) or a décimo, a tenth of a ticket, costing €20 ($21). Many participants split the cost of a billete to join syndicates, making the lottery accessible despite its high entry price.

Madrid saw the majority of winners this year, with players across the country uniting to enjoy the excitement of Spain’s cherished Christmas tradition.