El Gordo: The Odds of Winning Explained

EL GORDO: THE ODDS OF WINNING EXPLAINED

• THE SIGNIFICANCE OF EL GORDO
• WHAT ARE THE ODDS OF WINNING EL GORDO?
• WHAT ARE THE ODDS WITH A 1/20 EL GORDO BET?
• HOW DOES EL GORDO WORK?
• WHAT CAN YOU WIN WITH THE EL GORDO?
• WHY BET ON EL GORDO FROM SOUTH AFRICA?

THE SIGNIFICANCE OF EL GORDO

El Gordo, or “The Fat One”, is a Spanish term referring to the top payout in some of their national lottos. "The Fat One" is awarded not only in the Spanish Christmas Lottery but also in many other lottos in Spain. However, it is the “Christmas Gordo” that attracts worldwide attention every year due to its enormous payout pool.

In 2024, there will be 193 series, this means that each bet number is available in 193 times.  A whole bet offers the best chance to win the top payout of €4 million (c.R76.5 million), and this €4 million wil be paid out across every series, resulting in it being paid out 193 times! This means a total payout of €772 million (c.R14.7 billion) for just the first payout tier. Now that’s a payout you don’t see every day! The total payout pool for the Spanish Christmas Lottery in 2024 is an incredible €2.7 billion (c.R51.6 billion)!

WHAT ARE THE ODDS OF WINNING EL GORDO?

As previously mentioned, the odds of winning the top payout in the Spanish Christmas Lottery are remarkably good. There are exactly 100,000 unique bet numbers, from 00000 to 99999. Since El Gordo is guaranteed to have a winner when it is drawn in Madrid on December 22nd, each punter has a 1 in 100,000 chance of winning the top payout.

El Gordo is considered one of the lotteries with the best odds of winning in the world. Due to its unique structure and unusually high payout pool, punters have a solid chance of winning smaller payouts with each bet. Every sixth Christmas Lottery bet is a winning bet, which is far above the odds found in most other major lotteries. This high winning probability ensures that El Gordo attracts countless participants each year from every corner of the globe

In fact, the Spanish Christmas Lottery offers 17 different payout tiers, which means that punters have many chances to take home a payout even if they don’t win the jackpot.

WHAT ARE THE ODDS WITH A 1/20 EL GORDO BET?

For punters who prefer a 1/20 share instead of a full bet, the odds for the payout tiers are the same as with a whole bet. However, a 1/20 bet makes participation more affordable, as only a smaller share of the total payout is paid out. This means that a 1/20 bet winning the top payout would give you 5% of the €4 million, or €200,000 (c.R3.8 million). Thanks to its setup, the Spanish Christmas Lottery offers flexible options suitable for smaller budgets without altering the actual odds of winning.

Compared to the odds of winning the top payouts in other lotteries, the advantages of the Christmas Lottery are particularly clear. While other lotteries require significantly more luck, or the Lotería de Navidad as it’s called in Spanish, boasts excellent odds.

HOW DOES EL GORDO WORK?

Every Christmas, massive payouts are on offer, and your chances with El Gordo are nothing short of fantastic! For a start, every 6th bet wins, which is already very attractive! In addition to this, your odds of hitting the top payout are great - 1,400 times better than in the German Lotto, for example. Now you should be starting to see  why we think it’s definitely a lotto worth considering!

How big a slice of the El Gordo pie each bet ultimately gets depends on the share that has been purchased. In Spain, décimos, or one-tenth shares of each bet, are particularly popular. This allows winners to claim up to €400,000 (c .R7.6 million) in the top payout tier.

To hit the maximum El Gordo payout, you need more than just a décimo with the right lucky numbers. Only a full bet will net the top payout of €4 million. The odds are the same for all El Gordo bets, whether you choose a 1/20 bet, 1/10, 1/5, a half, or a whole bet. If a 1/20 El Gordo bet is still too much for you, you can even take a 1/50 or a 1/100 share at Lottoland. One percent costs just R100.

In 2015, punters betting with Lottoland actually hit the top payout! They were a syndicate from Wolfsburg in Germany, showing the mere geography is no barrier to hitting the top El Gordo payout.

WHAT CAN YOU WIN WITH THE EL GORDO?

By now, it’s well known that the top payout in the Spanish Christmas Lottery is €4 million – if you’re the lucky owner of a whole bet. But you can also become a millionaire in the next payout tier: €1.25 million (c.R23.0 million) awaits a new winner here. In the third payout tier, half a million euros is up for grabs. The popular décimos in Spain bring in €400,000 and €125,000 (c.R2.3 million) in the first two tiers and €50,000 (c.R950,000) in the third payout tier.

At Lottoland, you can even win more. By choosing our “Double Payout” feature above the El Gordo bet, you can double the amounts you can win in the first three payout tiers – something you won’t find anywhere else!

El Gordo Payout Tiers
payout tier	payout amount
"El Gordo"	€4 million
2 (Segundo)	€1.25 million
3 (Tercero)	€500,000
4 (Cuarto)	€200,000
5 (Quinto)	€60,000

The last two “big” payout tiers also offer attractive amounts. In the fourth tier, you can win €200,000 per series, and in the fifth, still a respectable €60,000 (c.R1.1 million).

WHY BET ON EL GORDO FROM SOUTH AFRICA?

Good question – simple answer. Lottery winnings in South Africa are generally tax-free – although you should always consult a qualified tax advisor to confirm this. In Spain, it’s different. On the Iberian Peninsula, taxes of 20 percent apply on winnings over €40,000. So, for example, if you bet on El Gordo with a décimo in Spain, you would have to pay €72,000 in taxes on the €400,000 payout. In South Africa, the full amount goes straight into the winner’s bank account.

Has your interest been piqued? You can already secure your bets for the coveted Spanish bets at Lottoland and conveniently bet on El Gordo online. But only while stocks last – these five-digit numbers are in limited supply!