MOre sperms are produced by male because the sperms have to pass through the female reproductive system to reach ovum.During which time many sperms die.So very few reach the ovum.Only one fertilizes with ovum.
Ovum or egg does not go any where, it remains with in the female body.That is why the egg is produced only one in a month in female body.
Most of the sperms get destroyed during thier journey to reach the ovum in the female reproductive system.So their number has to be too many.