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Raffle Ticket Notes - 1

A raffle often involves several different possible prizes that can be won, and a raffle ticket will be drawn from the group of raffle tickets sold at random for each of the prizes. In this manner, people are not buying raffle tickets to win a specific prize, but for the possibility of winning any of the prizes, as the prizes do not have specific numbers attached. A raffle ticket is drawn for the initial prize; that ticket is then left out of the container. A second raffle ticket is then drawn for the next prize, and that ticket also is discarded, and so on. This continues until all prizes have been won.

A common practice for increasing revenue from raffle ticket sales is to offer bulk sales of tickets, e.g., $1 per single ticket or $5 for 6 tickets. Players tend to spend more money on bulk raffle tickets believing they have a much better chance of winning. Since the raffle tickets cost little to produce, and the prize expense has been set, the number of raffle tickets sold creates little or no additional cost for the organization holding the raffle.

Nonprofits who run raffles raise more money than more traditional ways of raising money because people are more willing to donate to an organization when they have a chance to win a prize.

When considering a raffle or any fundraiser for your organization, be sure to consult your attorney to make sure that your fundraiser is legal in your location.

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