BBC News Online: World: Europe

Granada celebrates $270 million win

The annual draw, known as "El Gordo", or The Fat One, is billed as the richest in the world.

A total of $1.2 billion in winnings went to thousands of lucky ticket holders throughout Spain.

Millions of television viewers watched as schoolchildren sang the winning numbers in a ceremony lasting four to five hours.

Residents in Granada celebrated on the city streets, popping champagne and waving their tickets bearing the winning 43728.

"I have been dreaming of this moment all my life," said a young woman who won the equivalent of $250,000 for her portion of a winning ticket.

She said the money will pay for a Christmas vacation and gifts that her family would not have been able to buy otherwise.

Each ticket series is divided into 130 tickets that are in turn split into 10 3,000-peseta ($20) shares and some of these are further sub-divided, ensuring that the exact number of winners is unknown.

A record-breaking 250 billion pesetas ($1.7 billion) worth of tickets were sold this year, five percent up on 1996 and averaging out at approximately 6,500 pesetas ($45) per Spaniard.

Most Spaniards share tickets with family, friends and co-workers, so lottery windfalls ripple through whole communities.

In Granada, Francisco Gamarra's presents of lottery tickets to the staff at his hairdressing salon suddenly turned from a goodwill gesture into a $124,000 Christmas bonus.

The Spanish Treasury hives off 30% of the total raised before the draw takes place to keep the winnings tax free.

In this section

Violence greets Clinton visit
Russian forces pound Grozny
EU fraud: a billion dollar bill
Next steps for peace
Cardinal may face loan-shark charges
Vodafone takeover battle heats up (From Business)
Trans-Turkish pipeline deal signed
French party seeks new leader
Jube tube debut
Athens riots for Clinton visit
UN envoy discusses Chechnya in Moscow
Solana new Western European Union chief
Moldova's PM-designate withdraws
Chechen government welcomes summit
In pictures: Clinton's violent welcome
Georgia protests over Russian 'attack'
UN chief: No Chechen 'catastrophe'
New arms control treaty for Europe
Mannesmann fights back (From Business)
EU fraud -- a billion-dollar bill
New moves in Spain's terror scandal
EU allows labelling of British beef
UN seeks more security in Chechnya
Athens riots for Clinton visit
Russia's media war over Chechnya
Homeless suffer as quake toll rises
Analysis: East-West relations must shift