This might not be the initial name one mentions when asked about big lotteries, but it will be the first one anyone in Spain thinks of. This is the world's largest lottery in terms of the total prize money paid out. El Gordo means 'the fat one.' This began as a nickname for the first (biggest) prize but later became a reference for the entire lottery.
Also known as The Christmas Lottery, the draw is done every 22 December. In 2021, the draw will happen at Teatro Real de Madrid. It is broadcast live at 9:00 am CET. El Gordo is a special draw of the weekly Lotteria National meant to bring Christmas cheer to players in the country. It is run by the Loterías y Apuestas del Estado.
There is $4 million for the winner, $1.25 million for the second ticket, $500,000 for the third, $200,000 for each of two fourth-place tickets, and $60,000 for each of eight fifth-place tickets.