A 50-50 raffle fundraiser is a very alluring fundraiser.The 50-50 style raffle can be a steady ongoing source of fundraising revenue for almost any size or type of nonprofit group.
The 50/50 raffle won’t win you any prizes per say, but then again, this style raffle is all about the money!
In most cases a raffle involves many people buying tickets for a chance to win the grand prize. In the case of a 50-50 fundraising raffle the prize is 50% of the money taken in by the raffle ticket sales, so the prize amount is consistently changing with the more people that participate. The remaining 50% of ticket sales is retained by the nonprofit group hosting the raffle.
A person can decide to purchase one or more tickets, and each ticket purchased equals one entry in the drawing for winner. Either a certain number of tickets are sold, or a specific date range has expired before a single ticket is randomly chosen as the winner.
Obviously the more tickets that are sold, the more money the charity earns and bigger the prize for the winner.
You can sell tickets at a single price, or you can create ticket bundles. Regardless of how much you charge per raffle ticket, offer incentives for multiple purchases. For instance, if you price 1 ticket for $10, then offer 3 for $20, and 10 for $50, then 20 for $75, etc. This is a proven way to increase donations.
Don’t forget to share the event with everyone. Even if someone has already bought a raffle ticket that doesn’t mean they won’t buy one again. Some people may be waiting on funds to become available, and some people may have forgotten, so it’s always best to share the event every few days depending on how long the event will be running.
There are multiple ways to share an online raffle. The quickest and easiest way to share the event via e-blast! This will send a direct message to all your contacts inbox. Be sure to mention what a 50-50 raffle is and let them know how long they have to participate. You can add the link to your website, and you can share the link via text. Always ask your audience to share the event with others, it costs them nothing PLUS their friend could be the winner and all because they shared your email.
While typically this style of raffle is used as a fundraiser for booster clubs& sports teams many other groups can and should consider a 50-50 raffle.
By hosting an online 50-50 raffle event you do not have to worry about giving out paper tickets or remembering who got what ticket number. Participants will have their ticket numbers emailed to them directly after their payment has been processed and the charity admin will have access to all raffle ticket numbers.