You’re looking for a fun, easy, and engaging way to raise funds for your cause, and someone suggests a 50/50 raffle. Now, you’re wondering, “What is a 50/50 raffle, and how can it help me hit my fundraising goals?” and “How do I set the right 50/50 raffle ticket price?” Don’t worry, we’ve got you covered!
What is a 50/50 Raffle Fundraiser?
A 50/50 raffle is like a party where someone could leave with a cash prize. Participants purchase tickets, and the winner walks away with half the total money raised while the rest goes straight to your charity.
The cool thing about a 50/50 raffle is that the more entries you get, the more the pot grows. That ever-growing cash prize winds up motivating yet more people to buy tickets. After all, who doesn’t want to win a bunch of money?
Since the money raised is split between the winner and your cause, a 50/50 raffle might not raise as much as a traditional raffle. But the ROI (return on investment) is off the charts. Printed raffle tickets are your only cost, but you can even offset that by lining up a sponsor to advertise on the back. Plus, putting together a 50/50 raffle is a breeze compared to other fundraisers. The cherry on top? Your lucky winner commonly donates part or all of their prize money back to the cause.
Pro tip: Make the dream of winning feel more like a real possibility. Sweeten the deal by offering more chances to win. Inspire supporters to purchase multiple tickets with bundling.
Setting the Perfect Raffle Ticket Price
The magic number for a 50/50 raffle ticket price is typically between $1 and $10. It all depends on who you’re selling to and how many raffle tickets you think you can sell. Say you’re running a fundraising event for a sports team. You’ve got a captive audience of parents, family members, and their networks. Think about how many people that is and how much they’d be willing to pay for a raffle ticket. Go too low with your ticket price, and the prize might not be dazzling enough. Go too high, and you might negatively impact ticket purchases. It’s all about finding that sweet spot!
If you plan to host a traditional raffle and need help with ticket pricing, use our free, raffle ticket pricing tool.
Tips for a Successful 50/50 Raffle Fundraiser
Use a fundraising platform.
Your fundraising platform is like like having a secret weapon. You get to build a snazzy fundraising site, accept ticket sales online, host online and hybrid raffles, and even conduct a random drawing to select the winning ticket.
Clear rules.
Make sure the rules for your 50/50 raffle draw are unambiguous and easy to find. A terrific place to stash them is on your nonprofit organization’s fundraising page. It’s also a good idea to share them on social media.
Raffle tickets.
Order printed 50/50 raffle tickets detailing your draw’s details. They’ll provide a professional impression, helping you to sell more tickets and reach fundraising goals.
Go hybrid
Combining an online raffle with an in-person one (hybrid) can generate more raffle ticket sales than you can imagine. Since you have a raffle page, people can just click and…boom! They’ve bought tickets.
Use social media
Blast your fundraising page across your social media networks to pump up those ticket sales. If you can’t run an online raffle, use social media to spread the word anyway. Just be extra clear with how and when people can buy tickets.
Make the draw a spectacle.
When it’s time to pick the winning raffle ticket, make it an event. If your 50/50 raffle is part of a larger event, get the crowd excited! Periodically remind the crowd how much they’ll win and when you’ll conduct the draw. Be sure to livestream the draw or use Facebook/Instagram Live—it’ll make followers who didn’t buy tickets promise themselves they will next time. Plus, it’s great content, and every charitable organization could use some of that.
What You’ll Need for a 50/50 Raffle Fundraiser
Legal check
Make sure you’re playing by the rules. Review your province’s laws and rules for promoting your raffle on social media sites and selling raffle tickets online.
Raffle tickets
The Net-Net
A 50/50 raffle is a really effective, efficient, low-resource way to raise funds quickly and stir up excitement and awareness for your cause. Just prepare well and remember to check local laws, and you’ll be on your way to a successful event.
If you want more tips on raffle fundraisers, like how to ask local businesses to donate prizes, or what the best alternative to a raffle is, just keep on browsing. After all, knowledge is power in the world of fundraising!
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