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Raffles

Raffles. Making Money With Raffles. What You Need To Consider. M ost raffles are considered gambling and are governed by fairly precise state and provincial laws Find out the laws in your state or province before you start your raffle. Items regulated may include Value of Prize

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Raffles

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  1. Raffles Making Money With Raffles

  2. What You Need To Consider • Most raffles are considered gambling and are governed by fairly precise state and provincial laws • Find out the laws in your state or province before you start your raffle

  3. Items regulated may include • Value of Prize • Numbered tickets • Prize disclosure and details explained • Length of contest • Bookkeeping requirements • Length of time you must keep records • Who you can sell tickets to • Whether you need a gambling license or permit

  4. Decision(s) To Make On Your Raffle How long will it run? • One day, one Month, one year • Until so many tickets are sold • At the end of an event • Number of prizes • One grand prize • First, Second, Third and so on • Value of prizes

  5. How many tickets will you print • Unlimited VS A limited set number • How will tickets be purchased? • On line, at an event, by mail • How much do you want to make? • What will you print on your tickets • Number, prize detail, where to mail tickets • What will be the value of each ticket • Where will you purchase merchandise • Retail, Wholesale, Donations, discounts

  6. Will You Have a “Sponsor”? • What will they pay for? • What will they want in return? • Most likely advertising • Newsletter, flyers, website

  7. Sponsors • Companies that may donate gift cards and merchandise in exchange for advertising • You will need to keep your advertising commitments and follow up with a thank you letter

  8. Who Will Keep Track of Tickets Sold? • Should have centralized record keeping • Very important in long duration raffles, large number of raffle tickets, and multiple raffle ticket sale sources.

  9. Choosing The Prizes • Items that appeal to a broad range of people will attract more entries. • People like big prizes worth large dollar amounts (that’s why raffles are gambling) • People also like multiple chances to win • People often equate value of an item as important as the item itself • Your prizes need to be quality items, not something a merchant could not sell

  10. Where Do You Get Prizes? • Donations • Wholesale items • Special purchase programs for non Profits • Examples in hunting merchandise • Bows, Mathews, Hoyt, Bowtec, PSE • Merchandise, Primos, Brunton, Steiner,Montana Decoy and many more. • Gift Certificates

  11. Case Study 1 • Bow Raffle for 2 Sportsman shows • Bow Mathews Outback • Overhead • Cost $350.00 (Value 700.00) • Printing of 300 Raffle tickets (50.00) • Tickets sold 300 X 5.00 per ticket= $1,500 • Profit $1,100.00

  12. Marketing • Large sign in booth with lettering that can be read by person walking by the booth • Bow hanging on post in front of booth so ticket buyers can handle it. • Passing out flyers at other booths advertising the bow raffle

  13. Post Raffle • Take picture of winner and put in newsletter • Keep all raffle tickets for 3 years • Thank Mathews for the discount bow and send copy of newsletter story about winner and Mathews bow.

  14. Case Study 2 • Alberta Bowhunters Association 3rd Annual Spring Fever Raffle • Drawing to be held at the ABA banquet • Overhead • Cost of prizes and tickets • Apx. 1,750.00 • ( Retail value of 5 prizes $7,000) • Sponsor paid for grand prize (3,700) Other items were donated or purchased at discount

  15. Cost of raffle tickets • $5.00 X 2,000 (limit) = 10,000 • Expected profit $8,350.00 • Duration of contest - 5 months • Marketing • Emails, Information poster, Banquet event, open to non members, mail outs

  16. Case Study 3Coin Raffle • Often used at banquets • Same day drawing • Usually for one item • Prize should be coveted by most people at event

  17. Prize • Steiner binoculars (Retail $900.00) • Overhead • Cost of binoculars $500.00 • Cost of logo wood discs 25.00 • Coin value $15.00 X 100 = $1,500 • Expected profit 975.00

  18. Pitfalls • Not enough marketing • Not enough value or quality in prize • Prizes not desired by many people Eg. A low end off brand bow • Violations in state or provincial gambling laws • Bad bookkeeping • Not thanking donor or doing promised • Advertising (loss of a future donor)

  19. Precautions • Get a written agreement for any merchandise you do not have in hand • Includes hunts, promised items and services • Have a substitution clause in case prize is not available • Especially in long running raffles

  20. Be as detailed as possible in describing exactly what the person will win • This is especially true when you are raffling hunts and services • Good idea to limit time period for raffle • Insures that prizes will still be available • Match your raffle to the size of your group

  21. Raffles can be your main fund raiser or they can supplement existing fundraisers.

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