Best Raffle Prizes For Raising Money
A well-run raffle with the right grand prize can raise incredible amounts of money for your school, church, or charity. Most groups underestimate how much money a raffle can raise.
You can easily raise ten thousand with a simple raffle, tens of thousands with a desirable prize such as a new car, and hundreds of thousands of dollars with a truly deluxe prize such as a new home.
From the late-1700s to the early 1900s, many public buildings and university expansions were funded by raffles. The raffle prize was always cash and the raffles always sold out all their chances.
Cash prizes allow people to dream of what they’d do with the cash if they won. Cash awards work best when ticket prices are fairly low and the grand prize is a significant multiple of ticket cost.
For instance, when you have a $10 ticket price, a $10,000 cash prize is a huge draw. Having lots of additional chances to win smaller cash prizes is another great ticket sales incentive.
The most popular cash raffles combine low-priced tickets with a significant cash prize and several tiers of smaller cash prizes. Total cash awards should always be less than 50% of total ticket revenue.
Physical prizes that match the ticket buyers “wants” also do well. Vacation getaways, restaurant gift certificates, spa treatments, and other items with a luxury feel also work well as prizes.
And don’t forget prizes aimed at men such as sporting event tickets, sports memorabilia, golf-related gifts, and anything that goes fast or makes lots of noise are also good draws for ticket buyers.
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