If you want to raise money for your organization – or pulling in more people to donate to your organization – consider starting a charity lottery. It’s a modest yet practical method to generate money while in turn rewarding your supporters. It’s like killing two birds with one stone, in fact.
This is why many charities often set up and encourage supporters to play charity lottery. Rewarding supporters has its perks because in the process of incentivizing your giving, you’re likely to attract more people to contribute to your organization. You can then channel the proceeds to charitable aims.
How to set up charity lottery
Anyone can set up their own lottery, but institutions where a company or an organization is involved, you can employ the collective effort of other members besides the general public including corporate supporters, and supporters in your own organization.
Collectively, you’ll decide on the prize fund to ensure the lottery achieves its goal. After all, there has to be a guaranteed prize for the lottery winner. Prizes can be in the form of money, in kind, or other incentives. This will depend on what your team decides as the ultimate prize.
Is it worth to set up and play charity lottery?
If the goal is to generate income for your organization, then yes! It’s worth it. The good thing about setting up a charity lottery is, you can predict how much money you’re going to make.
That’s because you’re aware of how many people have entered the lottery. You’re even aware of the times they’ll play, and how much they’re going to give as charity. However, you must create a cost the players are willing to pay to make the charity lottery worth it.
Unless your supporters are willing to part with a certain amount of money, your charity lottery won’t take flight. Charity lotteries cost players at least £1 a week even £2 a week, in most cases. It’s a little sum of money but if supporters aren’t willing to part with it, it’s futile. So, ensure they’re willing to pay the amount before you set up and play charity lottery.
Lotteries can bring in vast sums of money in a year that sometimes organizations can ride on the wave of the winner’s story for PR purposes – it happens.
Though this fact doesn’t invalidate that charities pull in millions of pounds every year especially large charities and hospices.
Sometimes it’s impossible to know how many of your supporters want to play charity lottery. But if you’re an organization looking to generate money, you can expect at least 10% of your supporters to sign up and play the lottery. If you’re running a charity with a formidable number of local supporters such as a hospice, you can expect at least 20% of supporters to show interest in playing the lottery.