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Chamber unveils new cash raffle for its fundraiser

Posted: July 30, 2014 - 12:37pm
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Photo by Jim Lavrakas
In the Homer Chamber of Commerce’s Double Down Cash Raffle, ticket holders also have a chance to win a Bay Weld Boat or credit at Bay Weld Boats.

Greetings from the Homer Chamber of Commerce.

This month we’re announcing an exciting new cash raffle. We’re calling it the “Fall DOUBLE Down Raffle,” because besides winning cash, there’s also a chance to win a Bay Weld Boat.

Through the fall, you’ll see a Bay Weld Boat parked outside the chamber. The vessel on display is a demonstration boat owned by Lower Peninsula Power Sports. It’s for sale to the public and may be sold at any time. If the boat is sold, and the “Double Down” Grand Prize is won, the prize may be used to order a Bay Weld Boat.

Here’s how it works:

• All raffle ticket stubs are numbered with corresponding number on the holder’s portion;

• Under the oversight of an independent party not affiliated with the Homer Chamber of Commerce, ticket stubs of all tickets sold are placed in a raffle drum and mixed, and the drawing begins;

• The 100th, 200th, 400th tickets drawn win the smaller cash prizes ($500, $1,000, $2,500, in that order);

• The Grand Prize winner is the last ticket remaining.

• Now the “Double Down” drawing happens.

• Balls numbered 1-500 are placed in a second drum that is not transparent. A video process to count each ball in numerical order will occur before the drawing begins;

• A single ball is drawn from the container. If the Grand Prize ticket number matches the ball number, the ticket holder wins the Bay Weld Boat credit worth $60,000. If ticket number and ball number do not match, ticket holder wins the $13,000 cash consolation prize;

• The successful “Double Down” winner will have either $60,000 to buy the display boat owned by Lower Peninsula Power Sports, or $60,000 CREDIT at Bay Weld Boats. The credit is only valid at Bay Weld Boats; 

• The actual prize is insured for $80,000. However, there is mandatory IRS withholding equal to 25 percent of the insured value.  This leaves the winner with $60,000 after taxes. The display Bay Weld is valued at $60,000;

• If the double draw numbers match, but the winner wants a cash payout instead of the $60,000 credit, the ticket holder receives a $40,000 payout ($30,000 after taxes).

We’re really excited to offer a chance to win a Bay Weld Boat. Remember, the last ticket drawn wins, at a minimum, a $13,000 cash prize. And we will, as usual, have non-cash prizes from our business member sponsors that will be given away with every 20th ticket drawn. 

We also have our traditional ATV Raffle to support our Building Fund, and this year it’s a 2014 Honda Rancher provided by All Seasons Honda.

Tickets for the “Double Down” Cash Raffle are $100 each, tickets for the ATV are $35 each, and we’re also selling a $50 truck raffle for the Kenai Peninsula Tourism Marketing Council, or KPTMC. 

For our chamber business members only, the cash raffle, ATV and KPTMC truck raffle tickets are packaged for $150 (you get the ATV raffle ticket for free) until Sept. 1. After that our cash and ATV raffle combo is $130. Non-chamber buyers can get the two-ticket cash and ATV combo package, but not the three-ticket package.

There are 500 tickets each of the cash and ATV raffles for sale, with the drawing held on Nov. 11 starting at 6 p.m. at the Homer Elks Lodge.

I hope you find this new raffle as exciting as we do here at the chamber. The fall raffle is our big fundraising effort for the end of the year, and your support is important, and appreciated.

For official Fall “Double Down” Raffle Rules go to www.HomerFallRaffle.org.

Jim Lavrakas is the executive director of the Homer Chamber of Commerce.

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