They’re used by all sorts of groups to raise money, and now the Iowa Lottery is preparing to launch its first ever raffle. Lottery spokeswoman, Mary Neubauer, says the lottery has been considering a raffle for some time.
Neubauer says raffles have been offered in several other states and have done "exceedingly well," and the Iowa Lottery has been trying to figure out how to fit the raffle in with its other games. Neubauer says they hope to begin selling the raffle tickets next year. She says they’re shooting for the raffle to start sometime next spring, with the drawing sometime around the first day of summer.
The tickets would cost $20 and be sold at the same terminals where you buy PowerBall tickets. The unique feature of the raffle compared to other lottery games, is that there is a guaranteed jackpot winner.
Neubauer says the raffle will have at least one top prize of one million dollars, and several smaller prizes in the 100 or 50,000 dollar range. She says they plan to only sell 120,000 tickets. Neubauer says they aren’t worried the raffle will hurt sales of other lottery tickets. She says they think the raffle would have enough of a niche market, that people would play it as well as the other games they play on a regular basis.
Players wouldn’t be the only ones winning on the raffle, Iowa Lottery officials say the raffle has a potential to bring them $800,000 in profit.