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Oct 23rd, 2008 at 4:28 pm
Bill,
I was curious what happens to the raffle money if the raffle is cancelled? Thanx.
D.I.
Oct 27th, 2008 at 2:54 pm
D.I.,
As to what happens to raffle money if a raffle is canceled. A raffle may be canceled if there are low ticket sales and, in my experience, the money is handled in one of two ways. The first is the raffle is changed from the typical car or bike prize to a “50/50″ raffle. That is, if the organization does not sell their target number of tickets (enough tickets to cover the cost of their prize) they will still draw a winner and that winner will receive a cash prize of roughly 50% of the ticket sales. The other system I’ve seen, but only a few times, is all ticket purchases will be refunded. I imagine this is a far more labor and time intensive process for the organization. Be sure to check out the raffle rules and regulations for any raffle as well - they will most always have a section on how they will handle a raffle cancellation or low ticket sales. Thanks!