LOTTERIES IN SPAIN

Shannon News, 15 March 1927, Page 4

LOTTERIES IN SPAIN

FIRST PRIZE OF £480,000. LARGE PROFITS TO THE ESTATE Since 1763, when the lottery was established in Spain by Royal Decree under Charles 111., its popularity has never waned. To-day it is one of the most trustworthy sources of the Budget, and brings in about£2,ooo,ooo of revenue.. Especially during the last decade have the annual sales increased In 1916 the value of the tickets sold in Madrid totalled 34 million pesetas (£1,088,000). Last year the sales totalled over 86 million pesetas (£2,750,000). In other towns sales have risen proportionally. There are. thre drawings of tho State lottery every month, on the Ist. 12th and 22nd. As 64.16 per cent, of the tickets are given away in prizes, and 4.20 per cent, represent the expenses of the State, the profits are theoretically only 26.64 per cent, of the capital employed. They are, however, larger owing to the curious circumstances that a considerable proportion of the prize?; are never claimed At the end of a year all unclaimed prizes revert to the State. In 1925, for instance, the State profited by over. 3 h million pesetas uuder this ruling. Moreover, unsold tickets returned to the State win a certain percentage of prizes. The drawing on December 22 is the largest in the year, the prizes numbering 9151, totalling 82,992,000 pesetas. The largest single prize is of 15,000,000 pesetas (£480,000), the fateful “Gordo.”

Last Christmas, the first prize was divided among a large number of persons, employees at the school of arts and« paintings and the clients of a barber’s shop in- a populous quarter of the town. Some of the shares were as small as one penny, but one. penny in the “Gordo” means £250. The owner of the barber’s shop was shaving a general officer when the good news were telephoned to him that he had won a 20th share in the .“Gordo.” The general’s face was lathered, but the razor had not yet touched it. The general jumped up and did not want the barber to continue, but Figaro declared that his hand did not tremble and insisted on completing his duty.