Why a Fundraising Lottery
The need for charities to continually seek new methods of fundraising and income generation has never been so important. A lottery is an ideal way to raise funds for your organisation, as players can give to the charity while giving themselves a chance of winning a worthwhile prize for a modest outlay. This chance of winning a prize means that the lottery is not simply another ask.
A lottery appeals to both existing supporters of the charity, and to individuals who may not currently support the charity financially, but are aware of it. Existing charity supporters will play the lottery in addition to their current support because of the chance of winning, While that incentive will also encourage those who don’t currently donate to play.
Entries | Profit per week | Profit per year |
4000 | £2,161 | £112,375 |
5000 | £3,073 | £159,783 |
7500 | £5,102 | £265,304 |
10,000 | £6,881 | £357,825 |
15,000 | £11,497 | £597,857 |
25,000 | £19,787 | £1,028,911 |
For a typical weekly lottery draw with a £1 entry you would expect to generate the above profits. As the table above shows the profit percentage grows as the number of members increases.
A fundraising lottery not only has the potential to raise significant amounts of money for your organisation, but these funds can be raised in a consistent and predictable way, which can greatly help with your organisations financial planning, as well as improving and increasing the data within your supporter database.
