Last year, more than half of Americans donated to charity. Although these numbers are still down from pre-pandemic levels, charitable giving is still very common.
If you are trying to find donors for fundraisers, it’s important to know the different raffle options. Wondering how a 50/50 raffle works? This is the guide for you.
Keep reading to learn more.
What Is a 50/50 Raffle?
A 50/50 raffle is when vendors sell numbered tickets to buyers at a predetermined selling price.
The person whose ticket number is drawn receives half of the total amount of the “pot.” The remaining half goes to an organization, generally a charitable foundation.
In contrast to traditional pre-printed paper raffles, electronic 50/50 raffle software is available for use. This electronic software allows founders to run a more successful raffle system.
You can run a 50/50 raffle through raffle web design.
Benefits of 50/50 Raffles for Fundraising
Fundraisers use electronic 50/50 raffle software to ensure that ticket supply matches demand. You’ll have more time to sell tickets, sales speed increases, and you can show real-time jackpot totals.
Where you place jackpot totals can drive more awareness. For example, many 50/50 fundraisers show their jackpots on stadium screens to pique the public’s interest and fuel more sales.
Ticket prices are typically about a dollar so that the fundraiser is accessible to everyone. These raffles are easy to organize and require little expense because you don’t have to buy prizes.
The last benefit is that this type of fundraiser is repeatable.
How to Organize a 50/50 Raffle
One of the most important raffle tips to follow is to check your local laws and regulations before organizing any type of raffle.
In most states, there are limits and information requirements to run a 50/50 raffle. Some states prohibit 50/50 raffles.
Plan the sale of tickets beforehand so you can sell as many tickets as possible during the event. Offer tickets to everyone and create multiple rounds to increase ticket sales.
Prepare rules for the raffle and publish them at the beginning of the event so there is no confusion. Select a winner once the event is over.
You can draw the winner manually if you sell paper tickets. Draw from a hat, lottery wheel, or transparent jar to ensure fairness. The drawing should be completed by an impartial party that didn’t buy a ticket.
You can also use a random name picker but this involves more work when people buy tickets. If you are using online software, the software will automatically pick someone for you.
If the winner doesn’t claim their prize within a time limit, continue drawing another winner.
Should You Run a 50/50 Raffle?
Understanding raffles is important if you want to fundraise for a charitable organization. A 50/50 raffle is a special and simple type of raffle used by various organizations.
Use this raffle guide to decide if running a 50/50 raffle is right for you. Don’t forget to come back for more informative articles like this on our blog.