By Kate Northrop

Spain's legendary annual El Gordo, which translates to "The Fat One," has once again captivated the nation with millions of viewers glued to their screens for the annual event that handed out €2.7 billion (US$2.8 billion) in prize money.

Several residents of flood-ravaged Valencia were among this year's El Gordo winners, bringing a ray of hope to a community still recovering from devastating floods.

With an incredible prize pool of €2.7 billion, winners across Spain have taken to the streets to ring in the joyous event, the atmosphere electric with celebration from hundreds of fortunate ticketholders who have received an early Christmas gift.

The magic number 72480 proved particularly lucky on Sunday, with each ticket bearing this combination earning its holder a staggering €400,000 (US$416,293), which is the top prize available in this year's El Gordo drawing.

The El Gordo drawing always takes place on Dec. 22. As is tradition, the numbers are sung by children attending the San Ildefonso School in Madrid when they are drawn. They sing out the winning digits as well as the corresponding prize amounts at the Teatro Real opera house.

Audience members viewing the live drawing were dressed to fit the event, with Don Quijote, Christmas elves, and Biblical wise men among the most notable costumes.

María Ángeles, a teacher from Badajoz, told ABC News that she and her 14 friends and family members waited for hours in line to get a seat inside the opera house to watch the event.

"The point of coming to see the lottery is the hope," Ángeles told the news outlet. She estimated that the most anyone won in her group was €140 ($146).

On Oct. 29, 2024, the Valencia region was ravaged by torrential rain – over a year's worth of precipitation – that led to devastating floods, easily becoming one of the deadliest natural disasters in the history of Spain.

"I'd like the lottery to go to Valencia," 25-year-old Vicent Jacinto said to Reuters reporters while dressed in a traditional Valencian fallas suit. "Honestly, I think it should go to the affected areas. We'd like that very much."

In total, €36 million (US$37.46 million) in prize money was distributed across the Valencia region.

La Estrella is a lottery retailer in Paiporta, an area which bore the brunt of the disastrous floods. Mari Carmen Gonzalez, one of the store owners, told The Olive Press that they sold many tickets to soldiers and volunteers who came to help the community.

"People have turned out a lot, because of what they say - that where there is a misfortune there must be joy - but also to help," Gonzalez said.

The Olive Press reported that the store reopened nine days after the October 29 flood and still shows signs of the destruction.

The prize money flowing into the region brings a welcome boost to the community's recovery efforts, helping residents rebuild together with renewed optimism.

In Spain's Christmas lottery, every €200 ticket has one raffle number that can either be purchased in full, or be divided into 10 identical segments called "décimos," costing €20 each. Because numbers are also divided into series, there are in fact 180 full tickets with the same number sold at lottery sales points across the country, making it impossible for one person to buy them all. The odds of winning the top prize are 1 in 100,000.

This year's highest prize of €400,000 is worth about €325,000 per décimo (US$358,146) after taxes. Many people buy décimos of several different ticket numbers to increase their chances of winning a prize. A €200 full ticket pays out €4 million before taxes.

The second prize of €125,000 (US$130,091), or €1.25 million for a full ticket, was won by the number 40014. The lottery awarded additional prizes of lesser amounts as well.

Spain's first national Christmas lottery took place on Dec. 18, 1812. Historians say it was first conceived to buy bullets and make cannons to fight the French troops attacking the Andalusian city of Cádiz, which was Spain's last line of defense against the Napoleonic invasion in 1812.

Although the lottery was created during the siege of Cádiz, by the time the lottery was celebrated the siege had already ended, having lasted from Feb. 5, 1810 to Aug. 25, 1812.

The war, however, was still raging, and the lottery spread from Andalusia to the rest of Spain as the Spanish troops defeated the French. In 1814, when the war was nearly over, the lottery headquarters moved from Cádiz to Madrid, and it has remained in the capital ever since.