Raffles present an additional opportunity for your organization to raise money during your silent and live event auction. There are many types of raffles, one of which is the 50-50 raffle.<\/p>\n\n\t
In a 50-50 raffle, the winner is awarded 50% of ‘the pot,’ that is the money that was raised from the sale of the raffle tickets. The other 50% goes to your organization. It’s a win-win situation. Your organization is guaranteed to make money as long as at least one person enters, and the winner can choose what to do with his winnings. In fact, in many cases, the winner will donate all or part of the winnings back to your organization.<\/p>\n\n\t
The game of Heads or Tails?<\/em> adds a new twist to this tried and true 50-50 raffle fundraising tool. In this case, the last person standing wins 50% of the pot. Here\u2019s how it works.<\/p>\n\n\t Prior to your auction:<\/strong><\/p>\n\n\t As people check-in to your auction:<\/strong><\/p>\n\n\t What are the odds of remaining standing?<\/strong> <\/p>\n\n\t Ah. This is a question of probability, a math concept that has always perplexed me a bit. Here it goes\u2026<\/p>\n\n\t The odds depend on the luck of each participant. The odds of choosing the correct answer on the first toss are 1 out of 2, or 50%. The odds of choosing the correct answer on the first AND<\/span> second tosses are 1\/2 × 1\/2 = 1\/4 = 25%. The odds of choosing the correct answer on the first AND<\/span> second AND<\/span> third tosses are 1\/2 × 1\/2 × 1\/2 = 1\/8 = 12.5%. And so forth.<\/p>\n\n\t At a recent event I attended, the winner chose heads or tails correctly 7 times in a row! The probability of that was less than 1% — 0.78% to be exact. The winner promptly donated all of his winnings back to the group! <\/p>\n\n\t Each state has its own rules for conducting raffles, games of chance and gambling. So before your organization hosts a game of Heads or Tails?<\/em> be sure to check with your state government offices.<\/strong> Or try googling: \u2018raffle rules for nonprofits in (your state).\u2019<\/p>\n\n\t What other kinds of games or activities have you featured at an auction? Please share your ideas with other nonprofits by leaving a comment.<\/p>","protected":false},"excerpt":{"rendered":" Raffles present an additional opportunity for your organization to raise money during your silent and live event auction. There are many types of raffles, one of which is the 50-50 raffle. In a 50-50 raffle, the winner is awarded 50% of ‘the pot,’ that is the money that was raised from the sale of the […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","fifu_image_url":"","fifu_image_alt":"","footnotes":"","_wp_rev_ctl_limit":""},"categories":[6],"tags":[],"class_list":["post-32","post","type-post","status-publish","format-standard","hentry","category-auction-tips-strategies"],"yoast_head":"\n\n\t\t
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Playing the Game.<\/h3>\n\n\t
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Pay Attention to Your State’s Rules<\/h3>\n\n\t