A 50-50 raffle is an incredibly popular way in which to raise money for a charity or simply as a fundraiser for a school or similar organization.
On this page we are going to take a little look at what a 50-50 raffle is all about, and perhaps more importantly how you can run one.
A 50-50 raffle is simple. The idea is that you sell raffle tickets. Half of the winnings go to the winner (or winners) of the draw, and the other half go to the foundation that is running the 50-50 raffle fundraiser.
One of the reason as to why the 50-50 raffle fundraiser is so popular amongst people is down to the fact that people love to win money. It doesn’t matter how much is at stake; if people can purchase a ticket and there is a small chance that they will win more then there is a good chance they are going to do it. You will have absolutely no issues in selling raffle tickets, trust me on that. In fact; you will probably sell more raffle tickets as time goes on. As the jackpot for the raffle gets higher, more people will purchase the tickets. In fact; they may purchase multiple tickets in the belief that they now have a bigger chance of winning. It is absolutely fantastic and there are a great deal of organizations out there who generate a significant amount of income through a 50-50 raffle fundraiser.
How Does 50-50 Raffle Work?
It is also incredibly easy to run a 50-50 raffle fundraiser. All you need to do is purchase some raffle tickets. You can then sell these over a period of time (the preferable method as it means you will end up selling more), or you can make the 50-50 raffle fundraiser a part of another event that you are running. The choice is completely yours. This is especially true when it comes to the price. I tend to favor a slightly lower price, or maybe sell a book of tickets, as people are more likely to enter the event that way. You do not want price to be a barrier as you want to entice as many people to enter your raffle as you possibly can!
It is suggested that you run the 50-50 raffle ‘in public’. I know that there are a few organizations out there who run their raffles behind closed doors but this is not suggested. This is in part down to the fact that people love to view the drawing. There is no greater thrill than waiting to see whether your number is going to be called. In addition to this; if you hold the raffle in public, perhaps as part of another event that you are running, then you have the opportunity to sell a few ‘last minute’ tickets which will of course result in more cash coming in for your organization! As before though; how you run it is completely up to you, but do consider these suggestions.
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