50-50 raffle fundraising simply involves the sale of raffle tickets with the proceeds being split evenly between the winner and your Squadron. Many Posts include a 50-50 raffle at all their regular monthly meetings. Tickets are sold throughout the 'get acquainted' or informal portion of the meeting. The profits can be earmarked for an individual ongoing project, or included with other funds raised for your main charitable goal such as Child Welfare Fund.
Your only fundraising expense is the raffle tickets (a double ticket roll, a single ticket roll that you tear in half or a board with the numbers for sale). Winners are always happy with a cash prize.
All you need is one or more ticket sellers.
Raffle tickets normally sell for $1 a piece, with an incentive for multiple purchases such as 3 tickets for $5. Using a price incentive for multiple tickets can often increase your total sales and builds a larger 'pot' to split with the lucky winner.
All ticket stubs (or duplicate tickets or numbers, depending on your style of raffle tickets) are placed in a hat or other container from which one lucky number is drawn.
The 'take' is tallied and one-half awarded to the holder of the lucky number. The drawing is normally held toward the end of the meeting or event, and the lucky number holder must be present to win.
If not claimed within a set time limit which can be as short as a minute or two, a second number is drawn and awarded the prize. Generally speaking, the larger the prize, the longer time allowed for the original winner to claim his or her prize. At a large function, with a sizeable pool of money expected, multiple prizes of perhaps $100 or more could be awarded. Whatever the prize split, it should be determined ahead of time and used as a sales incentive. (i.e. "Buy a $1 ticket and get 5 chances to win $100). You can also consider a 60-40, 70-30 split, etc but 50-50 seems to be the most popular split.
Variation: One group uses a numbered grid, including numbers from 1 - 45, and sells them for $2 each. Once all of the spaces are sold, they draw just 2 prizes - 1st prize is $30 and second prize is $15. This gives a 50/50 split between the total prize pool and the profit that retained for their charity - i.e. $45 each. The winning numbers are the 'supplementary' numbers drawn in the Georgia State Lotto, which is telecast live on TV and published in the newspaper. The State Lotto has a total of 45 numbers, and so that is why they only sell that many squares. The benefit of using the telecast/published Lotto results is that everyone can watch the draw from home, and it saves the trouble of drawing numbers themselves.