How Does a Reverse Raffle Work?
In a reverse raffle, every ticket in the raffle pool is drawn and the winner of the raffle is the individual whose ticket number corresponds with the final ticket drawn from the pool. Reverse raffles are a popular activity for charity events. Tickets are sold for a fee and the proceeds go to the charity.
Reverse raffle drawings are also a popular choice for fundraisers in which multiple donations are needed. For fundraisers and charity events, reverse raffle tickets are often sold at high prices and the prizes are quite lavish. Boats, cars, luxury vacations and large cash sums are all common prizes for fundraisers and charity events.
Reverse raffles are a popular choice for school carnivals as well. Prizes are often donated by local vendors such as restaurants, hair salons and supermarkets. Reverse raffles work in two separate ways. If the grand prize is a high-value item, the prize is limited to the purchaser of the final ticket drawn. For reverse raffles with multiple donated prizes, there are multiple winners and the purchaser of the last ticket drawn receives the top prize. The cost of a reverse raffle ticket is typically calculated based on the total value of the prizes.
