Spain's world-famous "El Gordo" lottery on Sunday broadcast the €2.7 billion ($2.8 billion) Christmas draw, as millions of people awaited to see if their fortunes had changed.

Spanish broadcaster RTVE showed the typically four-hourlong event from the Teatro Real opera house in Madrid, in the presence of around 400 spectators, it said.

As per tradition, pupils from Madrid's San Ildefonso boarding school sang the first winning numbers from the state-run lottery.

The audience, which had queued for hours to enter, wore Santa hats, regional costumes and their lucky charms.

World's largest and oldest lottery

Spain's lottery, established more than 200 years ago, is considered the oldest in the world.

Most of the lottery tickets are sold in Spain but an increasing number of foreigners are participating online.

Due to the total prize money, which increases annually, it is referred to as the largest lottery on the planet.

El Gordo worth €4 million

Despite the total prize fund reaching $2.8 billion this year, the top prize, called "El Gordo" (the Fat One), amounts to €4 million for a full ticket.

This year, El Gordo will be paid out 193 times — eight times more than last year, totaling around three-quarters of a billion euros. 

As ticket numbers are often concentrated in the same place, entire villages or neighborhoods often share the winnings as individuals buy fractions of a ticket.

This year, residents of the northern city of Logrono, the capital of La Rioja region famed for its wines, saw their numbers announced and will get to share the top prize.

Those lucky people who own a tenth of this year's El Gordo number will get €400,000.

Christmas tradition in Spain

Lottery mania hits Spain in the weeks leading up to the Christmas holidays, when relatives, co-workers, friends and club members frequently buy tickets or fractions of them together, often favoring particular "lucky" vendors or numbers.

The most common ticket costs €20, offering up to €400,000 in prize money, before taxes.

The lottery tradition dates back to 1812, when Spain was under French occupation during the Napoleonic Wars and the draw helped to raise funds to fight for independence.

Today, proceeds after operating costs and payouts are given to social causes.

mm/sms (AFP, dpa)