Has anyone ever done a boat raffle? With the season winding down and no takers on my boat, a friend suggested a raffle. My boat is a 2001 32 Sunsation pretty much loaded with 500hp's, I've been trying to get around 100k for it. So if I did a raffle with a 100 tickets for $1,000 each, would there be 100 people out there willing to put up the grand for a chance to win a 100k boat?
1 in a 100 shot of winnig. Good idea or Bad?

depends on where you live, but you might have to get a license to have a raffle. and if you start one and only have buy tickets you are screwed.

I have no idea what the laws around you are like but this may be considered gambling and your state may frown on it. You may be able to do it with a charity but the amount of tickets sold is a concern also. I would maybe do 1000 tickets at 100 bucks. Might be easier than getting 1000 from people.

I guess you need to ask yourself if you would take a chance for a grand. I think most people would buy a ticket for $1, $5, or $10 but I just don't see many risking a thousand bucks.
Cordell

I'd be careful tryin that. We tried to raffle off a completely built replica (less motor and trans) 65 cobra with 100% of the proceeds going to the 9/11 relief fund. It was being handled out of Virginia. We were shut down by the feds, I don't know what the deciding factor was, but we had to refund all the money received. It's kinda sad that the government would shut down something like this when people are trying to help.

PM Stinson, he tried to do that with Nada Chance. I think he ran into some problems.

I honestly don't think 100 will bid $1,000 to win it.

I would put up $1000 for the chance.