If you’re running a raffle to raise money for your organisation, charity or event you’ll need to consider how much to charge for the tickets. This is dependent on the prize value and your target demographic. Figure out the maximum amount of money you want to make (the ideal net profit) and then add on your costs for ticket printing, prizes and distribution.

You may also need to pay a registration fee to your local gambling commission (around PS40) if you’re raising funds on behalf of a community group or charity. This fee will need to be paid annually.

The price you set for your raffle tickets will have a big impact on the number of people who will buy them. It’s important to think about how much the prizes are worth to your target audience and what the competition is like. If you offer a really expensive prize you’re probably not going to sell many tickets and vice versa.

Aiming to keep your ticket prices as low as possible is key. This will not only increase your profits but will also help to attract more ticket buyers. Whether you are selling your raffle tickets on a book basis or individually, the way you price them will influence how many you sell. For example, offering a discount if you buy more than one ticket can be a great incentive to get more people through the door.

Creating your own numbered raffle tickets isn’t hard, but it does take a bit of time to master. If you’re using Word it can be tricky to persuade it to put a different number on each ticket, so allow a couple of hours if you want to try making them yourself.

Another option is to use Publisher, which is a little easier to use but still requires a fair amount of fiddling around to get the numbers in the right place. It’s also a good idea to have your numbers grouped together, rather than scattered throughout the document, as this will save you a lot of time when it comes to cutting and sticking.

If you’re unsure how to price your raffle tickets take a look at what other organisations have done in the past. They will have a wealth of information on how to best promote their events and can offer valuable insights into pricing. Also remember to ask your ticket sellers what they think is a reasonable price and keep notes in case you need to adjust your prices next year.