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:
- Prize value: The price of raffle tickets should reflect the value of the prizes being offered. If the prizes are high in value, you may be able to charge a higher price for tickets. Conversely, if the prizes are less valuable, you may need to lower the ticket price to attract buyers.
- Target audience: Consider the demographic and financial means of your target audience. If your audience consists of individuals with higher disposable income, you may be able to charge a higher price for tickets. However, if your audience has limited financial resources, you may need to keep the ticket price affordable.
- Fundraising goals: Determine how much money you need to raise through the raffle and calculate how many tickets you'll need to sell to reach that goal. Consider the balance between ticket price and the number of tickets you can reasonably expect to sell.
- Competitive analysis: Research what other similar raffles in your area or industry are charging for tickets. This can give you a benchmark to gauge what price range is reasonable and competitive.
- Value proposition: Consider what additional value or incentives you can offer to entice people to purchase tickets at a higher price. This could include offering bundles or discounts for purchasing multiple tickets, or including additional perks such as VIP experiences or exclusive merchandise.
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:
- $1 per ticket
- $2 per ticket
- $5 per ticket
- $10 per ticket
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:
- 3 tickets for $5
- 5 tickets for $10
- 10 tickets for $20
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:
- Basic ticket: $1 each
- Standard ticket: $5 each
- Premium ticket: $10 each (includes entry into a special prize drawing)
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:
- VIP package: $50 (includes raffle tickets, VIP seating at the event, and exclusive access to a VIP reception)
- Sponsor package: $100 (includes raffle tickets, recognition as a sponsor, and promotional benefits)
Raffle ticket price calculator
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:
- Prize cost: The cost of purchasing or acquiring the raffle prizes is one of the most significant expenses. Consider the retail value of the prizes, any discounts or donations received, and any additional costs such as shipping or taxes.
- Printing and marketing materials: You may incur costs for printing raffle tickets, posters, flyers, and other marketing materials to promote the raffle. Factor in the cost of design, printing, and distribution when determining your pricing strategy.
- Event expenses: If your raffle is part of a larger fundraising event, consider any expenses associated with venue rental, catering, entertainment, staffing, and other event logistics. These costs should be factored into the overall budget and ticket pricing.
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:
- Fundraising goal: This is the total amount of money you aim to raise through the raffle. It should be a realistic and achievable target based on your organization's needs and objectives.
- Total expenses: These are the costs associated with organizing the raffle, including raffle prize costs, printing and marketing materials, event expenses, legal permits, payment processing fees, and any other miscellaneous expenses.
- Number of tickets to be sold: This is the estimated number of tickets that need to be sold to reach your fundraising goal. It can be calculated by dividing the remaining fundraising target (after subtracting total expenses) by the expected revenue per ticket sale.
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.
- Promote early and often: Start promoting your raffle well in advance to build anticipation and generate excitement. Use various channels such as social media, email newsletters, flyers, and word-of-mouth to reach potential participants.
- Create compelling prizes: Offer attractive and desirable raffle prizes that appeal to your target audience. Consider partnering with local businesses or sponsors to secure high-value prizes or donations that can incentivize ticket sales.
- Utilize online platforms: Take advantage of online fundraising platforms to reach a wider audience and facilitate the creation and sales of custom tickets. Set up a dedicated raffle webpage where people can easily purchase tickets and learn more about the raffle.
- Offer specials and deals: Encourage early ticket sales by offering special incentives or discounts for those who purchase tickets before a certain deadline or in bulk.
- Leverage social proof: Showcase testimonials or success stories from past raffle winners or participants to build credibility and trust. This might show how tickets sold contribute to the cause.
- Host promotional events: Organize promotional events or fundraisers to raise awareness about the raffle and sell tickets in person. Consider hosting a launch party, community fair, or fundraising event where people can learn about the raffle and purchase tickets on the spot.
- Engage supporters as ambassadors: Mobilize your supporters, volunteers, and donors to become ambassadors for the raffle. Encourage them to spread the word, share on social media, and personally invite their networks to participate.
- Offer additional incentives: Sweeten the deal by offering additional incentives or perks to ticket buyers, such as exclusive access to events, a grand prize, or VIP experiences. These added benefits can motivate people to buy tickets and support your cause.
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:
- Single Ticket Pricing:
- $1 per ticket
- $2 per ticket
- $5 per ticket
- $10 per ticket
- Bundle Pricing:
- 3 tickets for $5
- 5 tickets for $10
- 10 tickets for $20
- Tiered Pricing:
- Basic ticket: $1 each
- Standard ticket: $5 each
- Premium ticket: $10 each
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:
- Online: Set up a dedicated webpage or utilize online fundraising platforms to sell tickets online. Promote the raffle through social media, email newsletters, and your organization's website to reach a wider audience.
- In-person: Sell tickets in person at fundraising events, fundraisers, or community gatherings. Set up a booth or table with signage, flyers, and volunteers to engage with potential buyers.
- Partnerships: Partner with local businesses, community organizations, or sponsors to sell tickets on your behalf. Offer incentives or promotional opportunities in exchange for their support in promoting and selling tickets.
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.
