The Theory Behind Raffling

    Participating in a raffle is a fun and sociable way of gambling.  Non-profit organizations would conduct this style of wagering for fundraising events.  The idea is to give away a prize in exchange for buying a ticket.  The prize is usually worth more than the cost of the ticket.  Multiple people would enter in the contest awaiting their name or ticket number to be called as the winning entry.  The waiting time could be within the same day or to be announced later.  Whatever contributions are leftover can be spent on a good cause.  This can include money to improve their own administration or for resources put towards other efforts.  It is similar to the concept of donations which usually arrives in abundance for non-profits.  Donations are giving from the kindness of the heart of those that can afford to do so.  The reward is doing a good deed for another.  Raffling, however, provides a perceptible award or gift for the winning contestants in addition to helping the organization.  Since there is an added stipulation to the average donation, a higher level of involvement maybe generated for the length of time the game is available.  Both are very good ways of raising funds but raffling has the capability of providing a greater response.

    With the increased proceeds, organizations can cover the cost of the prize and work with the remainder of money to support other expenses.  This would be a suitable way to maximize ticket sales.  The raffle tickets present an added value of the experience.  For instance, to offer a hundred dollar reward for one ten dollar ticket crafts its own sort of appeal.  So partakers understand that they can essentially purchase something for a discount if they are fortunate enough to win.  As long as there are more than ten tickets sold, a profit is gained.  Aside from the money, you would provide people with information about a cause or organization to be aware of and support.  The best prizes are always going to be associated with the giver in some way.  Not only would it be an excellent bestowal but it would remind you where it came from and how you received it.  As long as the cause is commendable that would encourage current members and people close to the situation to chip in.  Having an attractive gift would excite the ancillary revenue from those who are new and primarily interested in just the competition.   Ticket sellers can be motivated by an internal incentive for who could spawn the most entries.  Whether is it to achieve a certain position or for monetary compensation, sellers could try to get out there and spread the word as much as possible to maximize the effect.   A subsidiary of that would be to bundle tickets for a lower price.  Using the previous example of the ten dollar ticket, one could then offer three for twenty or five for thirty-five to optimize the point of sale opportunity.  Letting someone know they can increase their chances for more total money for numerous tickets but less than the amount of each being bought individually.  

Businesses can derive promotional opportunities and customer loyalty from this type of marketing effort by giving existing patrons another reason to stop by the store.  There is another objective in visiting their favorite place of commerce other than the usual selection of products on sale.  Adding a raffling competition begins to produce a new wave of enthusiasm as earlier discussed.  A different version of demand is obtainable by recurring clients.  It creates more reasons to pay attention to the approaching deadline, existing deals and who will be named the victor.  Being a fun form of competition should not garner the kind of animosity that could jeopardize an existing consumer base.  The winner will definitely be grateful towards the store and the other participants should not harbor any ill will.  The owner could experience a fast rise in new faces with some loss of retention but that is balanced by the amount of first timers who are impressed by the inventory the store has to offer and plan a return.   The most loyal frequenters were there before, are there during and will be there after the contest is over.

Raffling can be beneficial to both the proprietor and the participant.  The proprietor can bring surplus attention and revenue to their place for a short period of time.  There is a faith placed in the event that retention can be created from the previously unknown for future investment.  Participants can donate to a cause with the bonus of having hope of beating the odds and becoming the one winner from a group of many.  Depending on the reason for the money, walking away with the prize may be secondary.  It is a positive occasion for the majority who get involved except for the few who really wanted to win and were not able to.  That is the chance you take as you play the game, however.