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Fundraising tips

How to Price Raffle Tickets: The Ultimate Guide [2024]

March 2, 2024

Raffle fundraising is a fun, exciting and effective way to bring in money to your cause — but it requires strategic planning in order to make it as profitable as possible.
In this guide, we’ll share exactly how to price your raffle tickets in order to make your efforts a success.

How much should you charge for raffle tickets?

When deciding how much you should charge for raffle tickets, there are a few variables to consider:

What is the best raffle ticket price?

The most effective pricing for raffle tickets depends on various factors such as the value of the prizes, the target audience's demographics and willingness to pay, and the fundraising goals of the organization. However, there are some common strategies and pricing options that tend to be effective:

Single ticket pricing

Single-ticket pricing is a straightforward approach where each raffle ticket is sold individually at a set price. Common single ticket prices range from $1 to $10, depending on the factors mentioned above.

Here are some examples:

Bundle pricing

Bundle pricing involves offering discounts for purchasing multiple tickets together. This encourages people to buy more tickets at once, increasing the overall revenue from ticket sales.

Examples include:

Tiered pricing

Tiered pricing offers different price points for tickets based on their perceived value or the chance of winning. Higher-priced tickets may include additional perks or entries into exclusive prize categories.

Examples include:

VIP or exclusive packages

VIP or exclusive packages offer a premium experience or additional benefits along with raffle ticket purchases. This can justify higher ticket prices and attract donors looking for a unique experience.

Examples include: 

Raffle ticket price calculator

Raffle Ticket Price Calculator

Raffle Ticket Price Calculator

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5 easy steps to determine raffle tickets cost

Step 1: Determine a fundraising goal

Before considering pricing tickets, first consider how much money you need to raise through the raffle to support your cause or project. Having a clear target will guide your pricing strategy.

Step 2: Evaluate prize value

Assess the value of the prizes you'll be offering in the raffle. The ticket price should reflect the perceived value of the prizes to incentivize ticket sales. Consider whether the prizes are high-value items that warrant higher ticket prices or smaller items that may require lower prices.

Step 3: Assess expenses and costs 

When determining raffle ticket prices, consider the expenses of the event, like:

Step 4: Determine ticket sales target

Divide the remaining fundraising goal by the expected revenue generated per ticket sale. If you have multiple pricing options (e.g., single tickets, bundles), calculate the average revenue per ticket based on your sales projections.

Step 5: Consider audience affordability

Evaluate your target audience's demographics and financial means. Ensure that the calculated ticket price aligns with what your audience is likely willing to pay. Adjust the price if necessary to strike a balance between affordability and revenue generation.

Tip: The raffle ticket formula

The formula for finding raffle ticket prices can vary depending on factors such as fundraising goals, prize costs, and expenses. 

However, a basic formula for calculating the price of a raffle ticket is:

Ticket Price = (Fundraising Goal - Total Expenses) / Number of Tickets to be Sold

Here's a breakdown of the components of the formula:

How to price your 50/50 raffle tickets?

Pricing 50/50 raffle tickets involves considerations similar to pricing regular raffle tickets, with the added element of splitting the proceeds evenly between the winner and the fundraising cause. 

Here's how to price your 50/50 raffle tickets effectively:

Step 1: Set a fundraising goal

Determine the total amount of money you aim to raise through the 50/50 raffle. This goal will guide your pricing strategy.

Step 2: Evaluate the prize split

Decide on the percentage split of the proceeds between the winner and the fundraising cause. A common split is 50% for the winner and 50% for the cause, hence the name "50/50" raffle.

Step 3: Calculate revenue target

Subtract the desired portion of the proceeds (e.g., 50%) from the fundraising goal to determine the revenue target. This represents the amount of money that needs to be generated from ticket sales for the fundraising cause.

Step 4: Estimate ticket sales

Based on the revenue target and the expected revenue per ticket sale, estimate the number of tickets that need to be sold to reach the revenue target.

Step 5: Determine ticket price

Divide the revenue target by the estimated number of tickets to be sold to calculate the price per ticket. This price should be affordable for participants while ensuring that the fundraising goal is met.

Download our raffle ticket prices template →

8 tips for boosting your ticket sales

If your nonprofit is looking to do a raffle, you’ll need to consider how you might boost your sales.

How Special Olympics Idaho sold over 4,000 raffle tickets for free with Zeffy 

Special Olympics Idaho is a nonprofit organization dedicated to empowering individuals with intellectual disabilities through sports training and competitions. With a mission to foster inclusion, acceptance, and dignity for all athletes, the organization relies on fundraising initiatives to support its programs and events.

Special Olympics Idaho faced the challenge of raising funds to support their athletes' training, travel expenses, and competition opportunities. They recognized the potential of hosting a raffle fundraiser but needed an efficient way to reach a wider audience and streamline ticket sales processes.

To address these challenges, Special Olympics Idaho partnered with Zeffy, an online ticketing platform specializing in event management and raffle ticket sales.

With Zeffy's integrated ticketing system, supporters could conveniently purchase raffle tickets online through the dedicated ticketing page. Plus, Zeffy provided secure payment processing options and real-time tracking of ticket sales, allowing the organization to monitor progress and adjust strategies as needed.

Through their collaboration with Zeffy, Special Olympics Idaho successfully raised over $40,000 and sold over 4,000 raffle tickets in support of their athletes.

Pricing your raffle tickets for success

Pricing your raffle tickets just right is essential to hosting and executing a successful event. Your tickets need to be priced in a way that considers your audience, but also helps you bring in as much revenue as possible.

With Zeffy, nonprofits can host a raffle completely for free — and manage donors and marketing communication while they’re at it. Completely free and easy to use, Zeffy helps your nonprofit create raffle tickets and manage the event entirely — no hidden fees or costs.

Raffle ticket pricing FAQ

What is the best price for raffle tickets?

Determining the best price for raffle tickets depends on various factors, such as the value of the prizes, target audience demographics, and fundraising goals. 

Here are some examples of ticket prices that are commonly used for raffles:

What is the ticket raffle formula?

The ticket raffle formula used to calculate the ideal ticket price can vary depending on factors such as fundraising goals, prize costs, and expenses. However, a basic formula for pricing raffle tickets is:

Ticket Price = (Fundraising Goal - Total Expenses) / Number of Tickets to be Sold

How can I sell raffle tickets?

Here’s how to sell raffle tickets both online and in-person: 

And as always, be sure to review the raffle laws in your state to be sure you abide by the correct rules and regulations. 

Where to buy raffle tickets and raffle ticket rolls?

You can find raffle tickets and ticket rolls available for purchase online from various raffle ticket sellers, printing companies, or office supply stores. 

One of the best ways to create unique raffle tickets, though, is through online platforms like Zeffy. Completely free and easy to use, you can create as many tickets as you need, without any of the cost.