Monday, August 06, 2007

The News and Tribune - Charity gaming a boon for area organizations

The News and Tribune - Charity gaming a boon for area organizations:
"Your best bet

Raffles actually offer the best rate of return or lowest overhead costs. For example, organizations throughout Southern Indiana spent a combined $101,000 on raffles in 2006. In exchange for that, they took in about $304,000 in earnings. That adds up to about a 67 percent profit for the organization holding the raffle.
By comparison, festivals make about a 50 percent profit once expenses are subtracted. Game nights make a 28 percent profit and pull tabs make a 17 percent profit.
Organizations running bingo operations — by far the most expensive form of charity gaming — are bringing in some of the lowest profit percentages, even though they’re the ones pulling in the most net cash.
The high overhead cost is typically worth it from an economic standpoint, however. Even though they only have a 7 percent profit, they take in far more in net dollars than other forms of gambling, on average bringing in about $124,000 annually for the organizations sponsoring them. "
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