Rules for Reverse Raffle
1. 95 Tickets will be pre-sold, 5 tickets/numbers will be held for auction the night of the event.
2. One ticket admits 2 people for dinner and entertainment and reserves ONE number in the drawing. The cost of a ticket is $250.
3. Lumpkin County Education Foundation at its discretion, may sell raffle only tickets that do not include dinner and entertainment for a cost of $150. No admittance to the live auction is permitted and ticket holders do NOT need to be present to win.
4. The Grand Prize is $5,000. A minimum of 95 tickets must be sold for the $5,000 to be awarded. If fewer than 95 tickets are sold, the Prizes awarded will total 33% of the gross proceeds and the amounts noted below will be adjusted.
5. Gross proceeds are defined as the total number of tickets sold at $150.00 per ticket.
6. A Ticket is considered purchased when complete payment has been received and recorded by the Reverse Raffle Chairperson or the Treasurer of the Lumpkin County Education Foundation.
7. The name written on the ticket stub will be written on the drawing board in a box with the ticket stub number.
8. Ticket-holders may inspect the board for accurate name spelling and ticket number accuracy.
9. Each ticket stub number will be placed in the rolling barrel.
10. Numbers will be drawn from the barrel and the numbers will be announced from the stage. Once the number & name have been announced, the name will be erased from the board and the ticket-holder is eliminated. The ticket-holder will then have the option to pay $20 to enter their ticket into the 50/50 raffle.
11. The drawing will pause when 50, 25, 20, 15 & 10 names remain for 1 of 5 auction balls to be sold.
12. When only 10 names remain on the board, a representative for all 10 tickets will be called to the front.
13. When only 5 names remain on the board, the representatives will have the option to split the prize and receive $1,000/each. The vote to split must be unanimous. If it is, the drawing is over. If it is not, the drawing will resume and the representatives will have the option to split after each elimination until there is a unanimous vote to split or a sole winner is declared..
14. Any ticket-holder in the last 5 may auction their ticket to the audience at their request with a starting bid of $500. Ticket-holders will receive 80% payouts for auctioned balls.
15. Ticket holders do NOT have to be present to win but must be represented by proxy in order to have a vote regarding splitting the prize or entering the 50/50 drawing.
16. Businesses, companies and non-profit organizations may purchase a ticket, or several people can share the cost of a ticket however one person must be named as the Ticket Owner. The Ticket Owner controls the ticket and is responsible for making the decision to split the Prize with the other finalists.
17. Prizes will be awarded to the Ticket Owners who are responsible for sharing the proceeds with any other parties.
18. Winners are solely responsible for any and all taxes due on the awards. Proper income tax documentation will be issued before January 31, 2022.
19. In the event of a dispute or controversy, the Board of Directors will rule.