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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 - PowerPoint PPT Presentation
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RafflesRaffles
Making Money With RafflesMaking Money With Raffles
What You Need To Consider
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
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
Items regulated may include
Value of PrizeNumbered ticketsPrize disclosure and details explained
Length of contestBookkeeping requirementsLength of time you must keep recordsWho you can sell tickets toWhether you need a gambling license or permit
Items regulated may include
Value of PrizeNumbered ticketsPrize disclosure and details explained
Length of contestBookkeeping requirementsLength of time you must keep recordsWho you can sell tickets toWhether you need a gambling license or permit
Decision(s) To Make On Your Raffle
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
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
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
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
Will You Have a “Sponsor”?
Will You Have a “Sponsor”?
What will they pay for? What will they want in return? Most likely advertising Newsletter, flyers, website
What will they pay for? What will they want in return? Most likely advertising Newsletter, flyers, website
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
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
SponsorsSponsors
Who Will Keep Track of Tickets Sold?
Who Will Keep Track of Tickets Sold?
Should have centralized record keepingVery important in long duration raffles, large number of raffle tickets, and multiple raffle ticket sale sources.
Should have centralized record keepingVery important in long duration raffles, large number of raffle tickets, and multiple raffle ticket sale sources.
Choosing The PrizesChoosing The PrizesItems 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
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
Where Do You Get Prizes?
Where Do You Get Prizes?
DonationsWholesale itemsSpecial purchase programs for non Profits
Examples in hunting merchandiseBows, Mathews, Hoyt, Bowtec, PSEMerchandise, Primos, Brunton,
Steiner,Montana Decoy and many more.
Gift Certificates
DonationsWholesale itemsSpecial purchase programs for non Profits
Examples in hunting merchandiseBows, Mathews, Hoyt, Bowtec, PSEMerchandise, Primos, Brunton,
Steiner,Montana Decoy and many more.
Gift Certificates
Case Study 1Case Study 1
Bow Raffle for 2 Sportsman showsBow 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
Bow Raffle for 2 Sportsman showsBow 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
MarketingLarge 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
MarketingLarge 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
Post RaffleTake 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.
Post RaffleTake 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.
Case Study 2Case Study 2Alberta Bowhunters Association 3rd Annual Spring Fever Raffle
Drawing to be held at the ABA banquetOverhead
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
Alberta Bowhunters Association 3rd Annual Spring Fever Raffle
Drawing to be held at the ABA banquetOverhead
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
Cost of raffle tickets $5.00 X 2,000 (limit) = 10,000
Expected profit $8,350.00Duration of contest - 5 monthsMarketing
Emails, Information poster, Banquet event, open to non members, mail outs
Cost of raffle tickets $5.00 X 2,000 (limit) = 10,000
Expected profit $8,350.00Duration of contest - 5 monthsMarketing
Emails, Information poster, Banquet event, open to non members, mail outs
Case Study 3
Coin Raffle
Case Study 3
Coin Raffle Often used at banquetsSame day drawingUsually for one itemPrize should be coveted by most people at event
Often used at banquetsSame day drawingUsually for one itemPrize should be coveted by most people at event
PrizePrize
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
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
PitfallsPitfallsNot enough marketingNot enough value or quality in prizePrizes not desired by many people Eg. A low end off brand bowViolations in state or provincial gambling laws
Bad bookkeeping Not thanking donor or doing promised Advertising (loss of a future donor)
Not enough marketingNot enough value or quality in prizePrizes not desired by many people Eg. A low end off brand bowViolations in state or provincial gambling laws
Bad bookkeeping Not thanking donor or doing promised Advertising (loss of a future donor)
PrecautionsPrecautions
Get a written agreement for any merchandise you do not have in handIncludes hunts, promised items and services
Have a substitution clause in case prize is not available
Especially in long running raffles
Get a written agreement for any merchandise you do not have in handIncludes hunts, promised items and services
Have a substitution clause in case prize is not available
Especially in long running raffles
Be as detailed as possible in describing exactly what the person will winThis is especially true when you are raffling hunts and services
Good idea to limit time period for raffleInsures that prizes will still be available
Match your raffle to the size of your group
Be as detailed as possible in describing exactly what the person will winThis is especially true when you are raffling hunts and services
Good idea to limit time period for raffleInsures that prizes will still be available
Match your raffle to the size of your group
Raffles can be your main fund raiser or they can supplement existing fundraisers.
Raffles can be your main fund raiser or they can supplement existing fundraisers.