How to Price Raffle Tickets

15/02/2022

Did you know that research shows most nonprofit organisations that hold raffle drawings don’t know how much money they’ll raise until after their charity event? Indeed, knowing the exact amount in advance isn’t possible (unless you’re extremely good with a crystal ball), but having a fact-based idea of how much you expect to net is essential. Without that information, your raffle may not even come within shouting distance of your fundraising goal. 

Set yourself up for a successful draw with a raffle ticket price that considers all the factors. We’ll show you how.

Pro tip: Before selling a single ticket, make sure your raffle aligns with your area’s raffle laws.

How Much Should Raffle Tickets Cost?

Your fundraising event’s goals are directly related to how you price raffle tickets. Below, we break down all the factors contributing to raffle ticket pricing, plus there’s a free, handy raffle ticket price calculator you can use! (Click each category to jump.)

Additionally, our raffle ticket calculator is really helpful:

Calculate Raffle Ticket Sale Price
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Calculate Raffle Tickets To Be Sold
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How to Price Raffle Tickets

Fundraising Goal

First things first, it’s essential to know how much profit your nonprofit organisation aims to earn. This value is your fundraiser’s ideal net proceeds minus its costs.

Raffle Ticket Costs

Whether you print them yourself, have custom raffle tickets professionally produced, or use roll tickets, fees will be incurred. So, even if you’re planning to buy perforated paper and an ink cartridge to print them yourself, don’t forget to factor in those raffle ticket printing costs!

Pro tip: The look and feel of your raffle tickets affect perceived value. Check out our wide range of customisable raffle ticket templates—they make getting great, quality tickets at a great price easy!

Raffle Prize Costs

To minimise spending, try to solicit raffle prizes from local businesses and contacts (here are some excellent raffle prize ideas!). That said, sometimes you may need to pay part of the cost of your raffle’s prizes, so be sure to include this in your calculations.

Raffle Ticket Distribution costs

Distribution costs include all of the fees related to marketing and selling your raffle tickets. This could consist of printed posters or even a television or radio advertisement. 

Total Expected Raffle Ticket Revenue

Sales revenue is a factor of two things—first is the number of tickets, the second is the price. These two variables should match up to your target customer.

Number of Raffle Tickets

Think about how many people are likely to buy raffle tickets. How many people are in your community or network? Do you have a team of ticket sellers, or are you on your own? Will lots of people want a chance to win your grand prize? 

Pro tip: Supporters will purchase multiple tickets when there’s a quantity discount. For example, you could sell raffle tickets for £5 each or five for £20.

Price and Your Customer

Figuring out a reasonable raffle ticket price is dependent on the prizes offered and your target demographic. First, consider how much the prizes are worth to most of your potential ticket buyers. As an example, selling £100 raffle tickets to university students or £15 raffle tickets for a chance to win an Ishtar DVD might make ticket sales challenging.

Pro tip: Make sure your ticket price is a round number (most people don’t want to pay £3.76!)

Finalising Price and Quantity

First, add up all the prize drawing costs. For example, if you add together £75 for raffle tickets, £500 for prizes, and £50 for additional marketing materials, you’d have £625. Next, add the fundraising goal to that value. In this instance, the goal is to raise £2,000, so the total is £2,625.

Calculating Raffle Ticket Price

To ascertain the necessary item price versus the number of potential ticket sales, divide the total revenue by the number of tickets. So, if we use the above example and estimate that selling 1,000 raffle tickets is viable, each one should cost £2.63 (you can round up to £3.00).

Calculating the Raffle Ticket Quantity Needed

To calculate how many items need to be sold, divide the total revenue by the ticket price. In our example, if we wanted to sell each ticket for £3, we would need to sell £2,625/£3 = 875 raffle tickets. Again, we recommend rounding up!

Ready to dive in and get tickets for your prize drawing? We’d be honored if you placed your order for custom raffle tickets with Eventgroove (formerly TicketPrintingUK). Choose from hundreds of ticket templates or engage our team to create a design from scratch. You can expect great prices, excellent quality, and a fast turnaround no matter what. Plus, we want you, our customers, to be happy, so much so that we offer an order satisfaction guarantee

P.S. Want to host an online raffle? Create a raffle website for your charity benefit in a flash with Eventgroove! Our online fundraising platform enables you to sell raffle tickets online, share your fundraiser on social networks, and more.


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