Club draws are a great way to raise funding for a good cause. They are a type of private lottery, with club members buying numbered tickets, which then go into a regular draw. If you like lottery, you will love these betting bonus codes! In private lottery, only members of the club can buy tickets, not the general public, friends and family of club members. The good thing about running a private lottery however is that you don’t need a license or any specific legal permission for it, because it is a small-scale lottery that isn’t run for private or commercial gain. Just make sure that you follow the rules set out in the UK Gambling Act 2005.
The number of tickets varies, as the organizers decide how many tickets they want to sell. The most common types of draws will have 100, 200 or 500 tickets, but the number of tickets can also be greater than 500 or less than 100. A 100 club is a club that sells 100 tickets, 200 club sells 200 tickets, etc.
When the tickets are sold, a percentage of the profit is given as the prize, and the rest goes to a good cause – the purpose for which a club or a society raises funds.
Clubs are weekly or monthly events, with members subscribing to pay for a ticket every week or every month, for an agreed period of time (e.g. a year). Usually, prizes are awarded each month. Organizers should decide how many prizes they want to award in advance. The fixed price for the tickets should also be set in advance, based on the cause for which the funds are raised and the number of participant. The ticket price should be the same for everyone.
The amount of pool money that goes for monthly prizes should also be set in advance and should as a rule of thumb be slightly less than 50 percent of the pool money. For example, if you are running a 100 club that lasts for one year with tickets costing £1 a month, your monthly prize will be around £5.50 and £6.50 will go for the cause. Of course, the prize money should go up with the number of people who buy a subscription.
The winning numbers should be drawn in public, to make sure that all aspects of your lottery are transparent. All the number should be put in a box, shuffled, and then drawn out one by one in the order in which the awards are being rewarded. The lucky winners should also receive their prizes publicly and the rest of the money should go for a cause it was meant for.