Successful Raffles—Part 1 for 2019 5. November 2018 BeaconRaffleTickets (0) A raffle is a game of chance in which participants purchase raffle tickets in exchange for the chance to win a prize. The prize is typically determined by a random drawing of the winning raffle ticket from the pool of sold tickets. Raffles are regulated by State and local governments and the laws vary by location. Be sure that you consult your attorney or your CPA in the early planning stages of your raffle.