Did you know that on average, 34% of new customers are gained through contests?
Contests and raffles can help you reach new customers and grow your business. They’re a great way to engage with your audience, build brand awareness, and encourage repeat purchases.
So, what is a 50-50 raffle? It is one of the most basic and popular types of raffles you can hold. 50-50 raffles are a great way to increase brand awareness and reach new customers.
This 50-50 raffle guide will help you in understanding raffles, explain how they work, and discuss how to conduct one.
What Is It?
A 50-50 raffle is a fundraiser where half the money raised goes to the winner and half goes to your organization. A typical raffle ticket costs $1, but other amounts are acceptable as well.
You can sell tickets at events, online, or at businesses in your community. If you’re selling tickets in person, it’s best to keep track of who buys what so you don’t have more than one winner from any one place.
How Does a 50-50 Raffle Work?
To take part in a 50-50 raffle, you need to purchase tickets for a set price. Each ticket has two numbers on it: one that corresponds to the total number of tickets sold and one that corresponds to a specific dollar amount.
The winner is chosen by selecting a number from a hat that corresponds to the total number of tickets sold. The first person who has the same number as that specific dollar amount wins the raffle.
For example, if there are 100 tickets sold and one ticket has “85” on it, then whoever bought that ticket wins $850.
How Do I Set Up My Raffle?
You’ll need two things for your raffle: a prize and tickets for sale. The prize should be something that everyone wants, such as a flat-screen TV or a weekend getaway, but it doesn’t have to be expensive if you don’t want it to be.
You’ll also need enough tickets for every member of your organization or every family member.
How Do I Advertise My Raffle?
You can advertise your raffle by sending out direct mailers to your community, creating social media posts, or having a table at local events. Another easy way to advertise your fundraiser is raffle web design.
Your ticket seller can use it when selling tickets over the phone. Be sure to include all the relevant information about your event, such as date, time, location, price per ticket, and more.
What Is a 50-50 Raffle: This Is What You Need to Know
So, what is a 50-50 raffle? Essentially, a 50-50 raffle involves dividing the pot in half between the winner and the person running the raffle. That way, both parties benefit from the success of their efforts.
Whether you’re running an event or just looking to have a little fun and raise money at a block party, this type of fundraising can be an easy way to get your community together for a good cause.
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