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What Is a Good Raffle Prize? (Why People Buy Tickets & How to Use That Info)

Here’s a secret: When people ask “what is a good raffle prize?” there usually isn’t one right answer. It depends on a variety of factors, from the number of raffle tickets you’re going to sell to the audience you’re looking to sell to. What makes a good raffle prize is that it incentivizes people to buy tickets so your organization can meet its fundraising goals.

Here, we’ll break down what makes a good raffle prize so your organization can bring in as much as possible the next time you host a raffle.

Key Takeaways

  • Great raffle prizes are catered to the people who will hopefully be buying tickets.
  • Cash prizes and 50/50 raffles each have distinct advantages.
  • A good raffle prize will depend on how many tickets you’re likely to sell and how much revenue you will hopefully bring in.

What Are the Best Raffle Prizes?

One of the great things about hosting a raffle is that it lets you tailor the prizes for your target audience. A raffle lets you sell numbered tickets and draw winners who receive a prize. There’s generally a low cost of entry, and the more tickets someone buys, the better their chances of seeing their number drawn.

The best raffle prizes will get people excited to buy tickets. When you’re choosing prizes, think about who you’ll be trying to sell tickets to and what might incentivize them to buy more. There are three types of raffles to consider:

  • 50/50 raffle: The winner gets half the money that’s raised from ticket sales, with your organization keeping the other half.
  • Cash raffle: Your organization puts up a lump sum, and the winner takes that home, regardless of how many tickets are sold or how much money is raised.
  • Non-cash raffle: In a non-cash raffle, the winners may get physical items, experiences, gift cards, raffle baskets, or anything else you think they would perceive as valuable. This is where it’s especially important to think about good raffle prizes.
Two happy people browse raffle prizes on a phone during an online raffle.

Why People Buy Raffle Tickets

Some people will support your organization and buy raffle tickets for that reason alone. For example, when a youth sports league runs a raffle, parents and family members will likely buy tickets because their kids play in the league.

If you want to sell tickets outside of your immediate community, though, prizes matter. Maybe they’re unique and one-of-a-kind, or maybe they provide incredible value when compared to the low cost of tickets. 

Prizes are the best way to get people excited about buying tickets, so make sure you consider your target audience’s demographics. Age, income level, and whether your audience is mostly families or young professionals can all influence which prizes you should offer.

When you know your audience, you can find prize items that interest them. Consider prizes that have:

  • Broad appeal: Getting hyper-specific with your prizes can be great, but it can also mean some people just aren’t all that interested.
  • Great value: One of the great things about a raffle is that the cost-of-entry is usually very low compared to the value of the prizes. Be careful with your ticket pricing strategy, but try to make sure your prizes are things people can’t just pop out to the store and buy on any old day.
  • Relevant to lifestyle: A raffle run in conjunction with a fancy corporate soiree can and should offer prizes different from those for a small community charity. Consider who your target audience is and what would actually excite them and make their daily lives just a little bit better.

What Is a Good Raffle Prize?

For Larger Raffles

If you know you’ll be selling lots of tickets and bringing in a lot of revenue from your raffle, you’ll want big-ticket raffle prizes that provide great value to winners. Here are a few suggestions:

  • Luxury vacations: Whether it’s Tokyo, Europe, the Caribbean, or anywhere else, an all-expenses-paid getaway to somewhere exotic is always appealing. Luxury vacations should only be offered as prizes for raffles where there’s sure to be a lot of ticket sales, but they’re perfect if you’re wondering what is a good raffle prize and need something that appeals to a higher-income audience.
  • The newest tech: Whether it’s a new TV, smartphone, or gaming console, new high-end tech gets people excited about the prospect of buying tickets and winning your raffle.
  • 50/50: If you’re expecting to sell a lot of tickets and bring in a lot of revenue from your raffle, a 50/50 draw can be perfect. When you use a platform like Raffle Rocket, people can see how much money has already been raised. That will get them excited about how much they’ll win and motivate them to buy more tickets.

For Smaller Raffles

Just because your organization is running a raffle on a budget doesn’t mean you can’t have fun, exciting prizes. It might take a little bit of creativity, but remember: The best raffle prizes aren’t always the most expensive ones.

Take time to speak with local businesses and ask if they have items or experiences they might be willing to donate. This is a great way to ensure you have high-quality raffle prizes while limiting costs.

What is a good raffle prize on a budget? Here are a few fun ideas:

  • A prize basket full of local products: What makes a good raffle basket is having one that’s full of unique items the winner might not have otherwise tried. That can range from baking to wine to arts and crafts. 
  • Tickets to something local: Whether it’s a night at the theatre or a big game, tickets for a night out are among the top prizes for raffles. Many local teams and arts organizations will be willing to donate tickets for non-profits and charities, too.
  • A Date Night package: This can be as simple as collecting a couple of gift cards for dinner and a movie, but packaging them together can make the winner feel even more special.

For Raffles That Fall Somewhere In-Between

  • Sports memorabilia: Many sports teams keep stock of memorabilia, such as game-worn jerseys signed by the athletes who wore them. These hold a ton of appeal for fans and collectors alike.
  • Gift cards at top restaurants: Many of the best restaurants in a city can be hard to get reservations at and can be pricey. Speak with management about securing a couple of times for reservations and get gift cards for winners. 
  • Spa day: When organizations wonder what is a good prize for a raffle, a day at the spa is always a great solution. Winners will have an excuse to treat themselves to a little rest and relaxation.

Ultra-Appealing Raffle Prizes at Your Fingertips!

Whatever prizes you choose to have available for your raffle, it’s important that you can show them off to potential ticket-buyers.

Raffle Rocket’s online platform makes that simple, as you can display photos and videos of your prizes directly on your raffle’s landing page and can advertise on social media or send out emails to your contacts with QR codes so they can browse what’s available.

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FAQs About Good Raffle Prizes

Do I need a license to run a raffle?

Yes, most jurisdictions require approval from a local gaming authority for organizations to host raffles. It’s important that you go through the steps of securing licensing before you begin selling tickets.

Are there rules for the value of raffle prizes?

Yes, although they vary from state to state and province to province. In Alberta, for example, the total value of prizes in your raffle must be a minimum of 20% of the total value of potential tickets sold.

What is the best price to charge for raffle tickets?

The best price for raffle tickets depends on your audience, the value of the prize, and your fundraising goal. For most community events, common pricing models include:

  • $5 per ticket
  • 3 for $10
  • 10 for $20
  • 1 for $20 (for high-value prizes)

The key is balancing affordability with perceived value. If your prize is worth $500+, attendees will expect a slightly higher ticket price. If your audience includes families or students, lower price points often drive higher volume.

A smart strategy is to offer bundle pricing (e.g., 5 for $20) to encourage larger purchases. People are more likely to spend more when they feel they’re getting a deal.

What is the most profitable fundraising event?

The most profitable fundraising events typically combine multiple revenue streams rather than relying on a single activity. While smaller events like bake sales or car washes can be effective for quick funds, larger-scale events—particularly galas with silent auctions and raffles—tend to generate the highest returns.

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