$1B prize lottery?

[sixto]

Entire Spanish village wins lottery, minus one unlucky resident | The Sideshow - Yahoo! News

Back in December, the tiny Spanish village of Sodeto collectively won a major stake in the annual $950 million Spanish national lottery. Today, the village of farmers and construction workers is enjoying a minimum payout of $130,000 per resident.

El gordo? How about el obeso?

Next article - how quickly can a town blow a $1B windfall...

Sixto
87 300D

[Fulcrum525]

Sounds like a movie I re-watched a few months back


Waking Ned - Wikipedia, the free encyclopedia

[Hatterasguy]

The Mercedes and BMW dealers in that area are going to have a VERY good 2012.

[elchivito]

They got 150 milion, a buttload of money but not anywhere near a billion. Individual payouts ranged between 130K and a half million if not splitting a ticket with anyone else. Tickets cost 26 bucks apiece, and given Spain's current economy and the fact that this is a town of subsistence farmers, it's likely that most of the tickets were split between the allowable 6 claimants for each one. Only the best off people in the town would be single claimants on a ticket. The whole town isn't worth what Mittens has offshore.

[sixto]

One article says US$950M, another US$940M. Pretty close to $1B. Or what am I missing?

Sixto
87 300D

[elchivito]

Originally Posted by sixto

One article says US$950M, another US$940M. Pretty close to $1B. Or what am I missing?

Sixto
87 300D

From the linked article. The entire lottery is worth a billion. That village won the bulk of the 1800 first prize tickets, not the entire thing. There are lots more lower prizes, making up the bulk of the billion:

Today, the village of farmers and construction workers is enjoying a minimum payout of $130,000 per resident.

Spain's national lottery, known as "El Gordo" (the fat one), was first established in 1812 and operates somewhat differently than most American lotteries. For example, this year there were 1,800 first-prize winning tickets, each with the same winning number of 58268. Each winning ticket was awarded a cash-prize equaling $520,000. But since each ticket costs $26, Spain allows them to be divided into as many as six "participations."
As for the other residents, they've found that with the newfound wealth comes distractions and fortune seekers. The village has reportedly been bombarded with sales representatives of all forms, each trying to cash in on the nearly $150 million infusion of wealth.

[The Clk Man]

I almost won the lottery today.

[elchivito]

The population of Sodeto is about 250. 150mil. divided by 520,000 = 288.

[elchivito]

Originally Posted by The Clk Man

I almost won the lottery today.

I hit Powerball big last week. Six bucks

[The Clk Man]

Originally Posted by elchivito

I hit Powerball big last week. Six bucks

I won $4 on a $2 ticket.