What is a 50/50 Raffle Fundraiser?
A 50/50 raffle is like a party where someone could leave with a cash prize. Participants purchase tickets, and the winner walks away with half the total money raised while the rest goes straight to your charity.
The cool thing about a 50/50 raffle is that the more entries you get, the more the pot grows. That ever-growing cash prize winds up motivating yet more people to buy tickets. After all, who doesn’t want to win a bunch of money?
Since the money raised is split between the winner and your cause, a 50/50 raffle might not raise as much as a traditional raffle. But the ROI (return on investment) is off the charts! Printed raffle tickets are your only cost, but you can even offset that by lining up a sponsor to advertise on the back. Plus, putting together a 50/50 raffle is a breeze compared to other fundraisers. The cherry on top? The lucky winner commonly donates part or all of their prize back to the cause.
Pro tip: Make the dream of winning feel more like a real possibility. Sweeten the deal by offering more chances to win for more money spent. An example of this would be to sell one ticket for $5 or five tickets for $20.
Setting the Perfect Raffle Ticket Price
The magic number for a 50/50 raffle ticket price is typically between $1 and $10. It all depends on who you’re selling to and how many tickets you think you can sell. Say you’re raising funds for a sports team. You’ve got a captive audience of parents, family members, and their networks. Think about how many people that is and how much they’d be willing to pay for a raffle ticket. Go too low with your ticket price, and the prize might not be dazzling enough. Go too high, and you might not sell as many tickets. It’s all about finding that sweet spot!
Tips for a Successful 50/50 Raffle Fundraiser
Use a fundraising platform.
It’s like having a secret weapon. You get to build a snazzy fundraising site, accept ticket sales online, host online and hybrid raffles, and even conduct a random drawing.
Clear rules.
Go hybrid + use social media.
Combining an online raffle with an in-person one (hybrid) can reach more people than you can imagine. Since you have a raffle page, people can just click and…boom! They’ve bought tickets. So, be sure to blast your page across your social media networks to pump up those ticket sales.
Keep everyone in the loop.
Make the draw a spectacle.
What You’ll Need for a 50/50 Raffle Fundraiser
Legal check
Make sure you’re playing by the rules. Review your territory’s rules for promoting your raffle on social media sites and selling raffle tickets online.
Raffle tickets
You’ll need a way to sell raffle entries and connect the winner with their prize. Great-looking, custom-printed raffle tickets are the answer. They give your fundraising efforts a boost by imparting a professional feeling to your fundraiser. Plus, they have stubs for participants to fill out so you can reach them in case they aren’t present at the actual draw.
The Net-Net
A 50/50 raffle is a really effective, efficient, low-resource way to raise funds quickly and stir up excitement and awareness for your cause. Just prepare well and remember to look into rules and regulations, and you’ll be on your way to a successful event.
If you want more tips on raffle fundraisers, like how to ask local businesses to donate prizes or how to price your tickets, just keep on browsing. After all, knowledge is power in the world of fundraising!
0 Comments