Donation Raffle and Boat Loan Initiative Drafts
Posted: Sat Feb 01, 2014 8:22 am
Donation Raffle
My new donation raffle uses some principles of gambling in order to generate interest, and income. Instead of being run at certain intervals, it's dependent on a pool of 20 £5 tickets being bought out (by donation to TH), and a predetermined prize will be paid to 75% of participating tickets, based on a drawing. Here's the winnings spread:
1st place: 25% of the pool, or £25.00
2nd place: 10% of the pool, or £10.00
3rd place: 5% of the pool, or £5.00
And then secondary prizes: 3 prizes of £2.00 each (6% of the pool in total), and 9 prizes of £1.00 each (9% of the pool in total).
All this amounts to 25%+10%+5%+6%+9%, or a total 55% payout in 15 prizes, where the other £45.00 is kept by the Town Hall. This makes it so that 15 out of 20 entries actually win something, and encourages people to play. Needless to say, putting up to 5 tickets in and winning the grand prize will pay for itself, so that's a pretty attractive choice.
If the raffle drawing occurs too often, this spread can be expanded to, say, 40 tickets, where the ratio of 75% wins can be kept, by keeping 3 main prizes and doubling their value, and then just adding £2 and £1 prizes in proportion to keep the 75% win rate.
The raffle would be open to anyone: if someone traveled out of town after putting in their ticket and that ticket won, they would then have 30 days to claim it - either through the County by grant, or an inter-County arrangement, or simply, travel. Otherwise, the TH would absorb the winnings to its benefit.
My new donation raffle uses some principles of gambling in order to generate interest, and income. Instead of being run at certain intervals, it's dependent on a pool of 20 £5 tickets being bought out (by donation to TH), and a predetermined prize will be paid to 75% of participating tickets, based on a drawing. Here's the winnings spread:
1st place: 25% of the pool, or £25.00
2nd place: 10% of the pool, or £10.00
3rd place: 5% of the pool, or £5.00
And then secondary prizes: 3 prizes of £2.00 each (6% of the pool in total), and 9 prizes of £1.00 each (9% of the pool in total).
All this amounts to 25%+10%+5%+6%+9%, or a total 55% payout in 15 prizes, where the other £45.00 is kept by the Town Hall. This makes it so that 15 out of 20 entries actually win something, and encourages people to play. Needless to say, putting up to 5 tickets in and winning the grand prize will pay for itself, so that's a pretty attractive choice.
If the raffle drawing occurs too often, this spread can be expanded to, say, 40 tickets, where the ratio of 75% wins can be kept, by keeping 3 main prizes and doubling their value, and then just adding £2 and £1 prizes in proportion to keep the 75% win rate.
The raffle would be open to anyone: if someone traveled out of town after putting in their ticket and that ticket won, they would then have 30 days to claim it - either through the County by grant, or an inter-County arrangement, or simply, travel. Otherwise, the TH would absorb the winnings to its benefit.