How to raise funds with a Race Night
Race Nights are immensely popular for fundraising and numerous ways have been devised to run them. Here we look at the two most popular ways and provide links to demos of the procedure (see also Race Night Law).
1. 'Wagering' for Cash Prizes using real money or 'fun money'
The easiest and most popular fundraising idea is to wager with real money and award cash prizes (see demo: Money based race nights ). This is normal in the United Kingdom, New Zealand, several States of the USA (e.g. Illinois) and Canada (e.g. Ontario) and numerous other countries.
Some States in the USA and Australia frown upon the concept of 'wagering' with real money but are happy for participants to purchase 'fun money' for wagering and to 'cash in' afterwards for real money. Here the procedure is essentially the same as that described above, except that players buy 'fun money' at the start and 'cash in' later. Elsewhere where the legislation is complicated (other US States) it is common to use a 'Donation based' system described below. This system can in any event be used anywhere.
2. 'Donation-based' with no cash Prizes and 'Fun Money'
In some instances the legislation is confusing. Here it is common for the organisers to ask business sponsors to donate prizes in advance of the event. The players are asked for 'donations' in exchange for fun money and an admission ticket. The fun money is used for the gaming at the event. At the end of the event 'fun money' winnings are used to bid for the prizes at an auction (see demo: 'Donation-based' Race Night ).