Spain's lottery sellers urge bigger Christmas jackpot to match inflation

Spain's lottery sellers have urged the government to raise the price of tickets for the country's traditional Christmas draw and boost the top prize known as the "Fat One" to keep up with inflation, the head of their main association said on Wednesday.

Spain is grappling with a cost-of-living squeeze that has pushed up housing and energy costs, eroding disposable income and - lottery sellers say - the dream of striking it rich.

"The jackpot hasn't changed in 14 years, while prices have climbed about 26%," according to Borja Muniz, President of ANAPAL, the group representing Spain's 4,100 lottery shops.

"Before, you could buy two apartments with it. Now it barely covers one," he told Reuters.

ANAPAL proposes lifting the price of a tenth of a ticket, called "decimo", from 20 euros to 25 and raising the top prize from 400,000 euros ($466,500) to 500,000 euros per winning decimo.

Their proposal has been sent to the state-run lottery agency and the Budget Ministry. The agency organizing the Christmas draw declined to comment.

Lottery sellers say inflation and rising costs have eaten into their profits and want their commission on Christmas draw sales raised to 6% from 4.5%, in line with other national draws. — Reuters