“The profit we get for a tenth of the Christmas lottery is quite low, 90 cents”

The sale of tenths is intensifying these days and one of the busiest administrations is that of “The Chulapa”located in the Moncloa interchange, in Madrid. During these days, queues to buy a ticket at this location can reach two and a half hours. The fame is justified, since Joaquin Monroyowner of the establishment, distributed two jackpots in a row (in 2022 and 2023) and awarded numerous prizes in seven years, including the first prize in the El Niño lottery.

What a Lotter Gets for a Tenth of the Christmas Lottery

The price of the tenth is 20 euros, so many think that being a lottery is a great deal, especially at this time of year. Monroy explains to ABC that in reality for every tenth of the Christmas lottery “the profit is quite low, 90 cents”.

Although his administration is profitable, since he achieved 120% growth in a short time thanks to shared luck and the determination to make himself known, this Madrid businessman emphasizes that many of his colleagues are going through “calamities”. “The profit is very low compared to what the State keeps, which I think is 30%. This business is the goose that lays the golden eggs of the State,” he explains.

Even if everything is going well for him, he emphasizes that he is not a millionaire: “I pay ten mortgages, that’s ten loans, because I have three businesses.” In fact, this lottery player, known as the “Lottery King”, was about to give up and focus on other things in 2020.

Lately, the price of a lottery ticket is also expected to increase from 20 to 22 euros: “It seems to me a more or less logical increase, 10%”. Monroy alludes to the fact that in the last 25 years everything has increased except tickets, but he warns against this possible increase: “I don’t want the State to take charge of the increase so as not to increase our commissions”.

Indeed, he explains that as an entrepreneur and independent, he does not feel “supported” by the Administration. He even recommends that those who are considering investing “not to get into this field”, because in his opinion “there are much better companies”.

In his case, he arrived at the family business after the separation of his father and his partner, founders of La Chulapa, and he took the reins: “I would never buy a lottery administration.” For those who want it, he emphasizes that the price depends on the turnover of the store: “I don’t think many people could buy ours, but the most normal thing is that for 300,000 euros you can have it.”