Players hold tickets in the world's biggest lottery. PHOTO: CNN Money

El Gordo, which means the Fat One in Spanish, is one of the biggest lotteries in the world. Although it’s operated out of Spain, anyone in the world can buy a ticket online.

This year El Gordo has collected more than $3 billion, and is set to issue winnings of 2.2 billion euros ($ 2.4 billion) on Tuesday 22 December 2015.

Tickets cost 200 euros ($218) each, but groups of would-be winners often go in together on tickets and split the prize.

Villagers in Granen, Spain, celebrate. Each share of a ticket was worth £83,000 in the 2012 lottery.

In fact, whole villages sometimes buy into El Gordo as part of their Christmas celebrations, while some Spanish companies hand out tickets to employees.

The top prize is capped at 4 million euros ($436 million), so there will be thousands of winners — a big reason many millions around the world buy tickets.

It’s estimated that three quarters of the Spanish population but at least one ticket every year.

The annual Christmas lottery dates back to 1812.

The El Gordo website.

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