50/50 raffles are cheap and easy, making them an ideal event for nonprofits on a budget.
This type of event is just like a normal raffle, except without the traditional prize. Instead, all of the money that goes into the pot will be split evenly between the winner and your organization.
50/50 raffles can be a very successful fundraising event, because they have an incentive built right in. The more money your donors spend on raffle tickets, the bigger the prize will be!
For this one, all you’ll need are raffle tickets, a big bucket to collect them in, and a busy spot to sell your tickets.
You can either host the raffle to make extra money during one of your other fundraising events or see if a popular local spot will host the raffle for you.
During the event, your goal will be to sell as many raffle tickets as possible, usually priced around $1 or $2 each. Give discounts for bulk buying (for example, if tickets were priced at $2, you could sell 10 tickets for $15) to grow the pot as much as possible.
Because many people don’t carry cash on them anymore, it’s recommended that your organization also has some way to accept credit cards for ticket purchases.
When people buy, have them write their name and phone numbers down on the back of each ticket before they throw them into the pot, so you can contact the winner by phone. That way, if people don’t want to stay for the entire event, they can still participate in the raffle.
Now all you have to do is set a time limit. Once the time for buying is up, it’s time to choose a lucky winner and split the earnings!