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What requirements are there to run a raffle? - Prize Pool - $500 or less

Is a permit required? No
Are number of tickets available for sale limited? Yes, the total value of tickets available for sale must be not less than twice and not more than six times the total value of the prizes
Are we required to have printed tickets? No
Do we need to collect ticket purchaser's details? No
How long can we sell tickets for? One day, or within an eight hour period.
When does the draw have to occur? On the same day as the ticket sales, or within an eight hour period.
What method must we use to draw the raffle? The method of draw must allow each ticket a random and equal chance of winning.
We cannot located the winner, what should we do? If a winner does not come forward within a reasonable amount of time following the announcement of the winning number a redraw must occur.
What records must we keep and for how long?
You must keep a record of the distribution of funds and prizes for three years.