How To Raise As Much Money As Possible
In our experience we have found that the average profit from the racing works out at approximately £8 per person. This does depend on the size and benevolence of your audience.
The main revenue earners are:
1. Entrance Tickets
Should you wish to charge admission, tickets should be sold in advance. The cost of the ticket should be reasonable, since you want to attract as many people as possible, nevertheless you should price the ticket so that much of your start up costs as possible are covered , such as food, fee for venue, printing, Race Hire and the cost of any other activities (eg. disco).
Approach local businesses and other suppliers and ask them to sponsor one of the races for an agreed sum, which will cover the prizes for their race. In return, the Sponsor will receive exposure to a room full of potential customers.
3. Horse Owners & Jockeys
Encourage guests and other interested parties to buy a horse or become the jockey for a nominal sum (e.g. £2.50). When you sell 8 horses & jockeys X £2.50 =£40. The owner and jockey of the winning horse will each receive a prize to the value of about £15, most of which will have been provided by the sponsor. All remaining money received from owners / jockeys is retained by the host organisation. If the horses & jockeys are sold before the event this will ensure you start your race night in profit. It will also encourage owners and jockeys to turn up on the night to see how their horses perform, and hopefully take home a prize.
4. Race card
To add the professional touch we will provide a race card, this will list all the race sponsors, horse owners and jockeys. If you wish the race card can be numbered providing the means to run either a free or paid raffle, which will be drawn late in the evening encouraging customers to remain to the end of the event.
5. Tote Ticket Sales
This is the main activity. The audience is able to buy as many tickets as they like for each of the 8 runners in each race. The host organisation is entitled to retain a significant share of the total ticket money staked in each race. We would suggest 35% is about right. There is no limit on this, nor on the cost of each ticket, nor on the amount of tickets your audience can buy. The more the merrier for all concerned.
6. Auction/Raffle Race
This can produce a very good result. The M.C. can auction each horse in the final race to the highest bidder, or a fixed sum can be set. The owner of the winning horse will then receive maybe 50% of the total monies received from the auction, with the remainder is retained by the host organisation. With a good M.C. and a responsive audience the sums collected on this race can be encouragingly high. The Raffle Race requires the audience to buy tickets for the “star prize” the right to own a horse in the race. From the tickets sold 8 (16 if sufficient demand to cover jockeys) are drawn at random and each awarded a horse in the next race. The owner of the winning horse receiving the appropriate prize. If the raffle and its race is held late in the evening and the tickets are sold early or before the event this will encourage customers to attend the event and stay to the end.
7. Bar and Drink Sales
The bar will have a busy night and in some instances, the major reason to hold a race night is to boost bar sales
8. Raffle Tombolas or Event
Race night offers ideal opportunities for other activities such as raffles & tombolas, all of which can contribute to the fun and profit of the event, or gives the opportunity to launch a new event at the venue.