One of the easiest revenue enhancers you’ll find is the 50 50 Raffle.
If you’re planning your next fundraising event, have you considered incorporating a 50/50 raffle? This exciting and interactive fundraising strategy has the potential to not only boost your event’s financial gains but also foster a sense of community among your supporters. Anyone can participate in this revenue enhancer, even if they just have a few dollars. And they get a chance to win much more, which is very appealing. You can also host a 50/50 raffle in person or at a virtual event. In this comprehensive guide, we’ll walk you through the ins and outs of hosting a successful 50/50 raffle.
Understanding the 50/50 Raffle
A 50/50 raffle, as the name suggests, is a type of fundraising activity where participants purchase tickets for a chance to win half of the total money raised in ticket sales. The remaining half of the funds goes directly to your nonprofit organization to support your mission and initiatives. This type of raffle adds an element of excitement and anticipation, as participants know that the prize pot grows alongside ticket sales.
What do you need for a 50/50 Raffle?
All you really need is raffle tickets, but the additional items listed below will help make the process smoother:
- Legal Considerations: Check your local laws and regulations regarding raffles and gambling to ensure compliance.
- Clear Guidelines: Develop clear and transparent rules for the raffle, including ticket prices, eligibility, winner selection process, and how the funds will be distributed.
- 50/50 raffle tickets. Purchase a double roll of raffle tickets at an office supply store or party store. These are the tickets that tear apart and both tickets have an identical number.
- Secure Collection Method: Set up a secure method for collecting ticket sales, such as an online platform or physical ticket sales booths at events.
- Prize Display: Showcase the growing prize pot at your fundraising event to increase excitement and encourage last-minute ticket purchases.
- Selling aprons. Make it easier on your ticket sellers and provide them with easy-access pockets to hold cash and sold tickets.
How to Host a 50/50 Raffle
Now that you have the essentials in place, let’s break down the steps to successfully host a 50/50 raffle:
Step 1 – Plan and Promote
- Set a Clear Goal: Determine how much you aim to raise through the raffle and align it with your overall event fundraising target.
- Choose Ticket Prices: Set ticket prices that are accessible to your audience while considering your fundraising goal.
- Develop Marketing Collateral: Create compelling promotional materials, such as event signs and graphics, to generate excitement and awareness.
Step 2 – Ticket Sales
- Multiple Sales Channels: Offer tickets for sale both online and offline to cater to a wider audience.
- Event Integration: If your raffle is part of a larger event, strategically place ticket sales stations or use roaming volunteer teams to sell tickets around the venue.
- Bundle Deals: Consider offering discounted rates for purchasing multiple tickets to incentivize higher participation.
Step 3 – Winner Selection and Prize Distribution
- Random Drawing: Conduct a fair and transparent random drawing to select the winner. This can be done manually or using randomizing software.
- Celebrate the Winner: Announce the winner with enthusiasm, either at the event or through your chosen communication channels.
- Prize Distribution: Ensure a seamless process for distributing the winnings to the lucky winner.
50/50 Raffle Variations
- Although the 50/50 split is the most popular, you can experiment with different configurations: a 40/60 split or a 30/70 split.
- You can also earmark the proceeds for a special project to generate more interest.
- One organization created a grid numbered from 1 to 45 and sold tickets for $2. They then selected two winners—one for $30 and another for $15.
- Earmark the proceeds for a special project to generate more interest.
- Keep announcing to your audience what the total current sales are and, thus, what the prize will be. The more you announce the current prize amount, and emphasize it is a growing prize, the greater sales will be.
- If you want to be sure the prize is spent at your event, you can announce the prize as “credit toward auction purchases or contributions.”
Some Personal Insight from Kip
Here’s a fun thing to do with the 50/50 raffle. Don’t wait until the end of your event to draw the 50/50 raffle prize, as you might do with another raffle. Instead, draw the winning ticket right before your live auction. That way the person who wins the 50/50 raffle has that much more money to spend in your live auction.
50/50 Raffle Considerations
Raffle fundraisers are considered games of chance and are often regulated by state and local laws. Make sure you understand the rules and regulations in your jurisdiction and design your raffle accordingly. Some states even prohibit raffles.
Have you run a 50/50 Raffle at your fundraiser? Share your experiences in the comments below. What worked and what didn’t? We’d love to hear from you.
This article is part of our 26 Proven Revenue Enhancers for Your Fundraiser eBook available as a free download. If you looking for new revenue enhancing ideas and how to incorporate them into your event—this easy-to-use lookbook is for you.