How to Race Night using Money

Normal for the United Kingdom and Ireland 

Here we will demonstrate how to organise a fundraising race night with the Money method which is commonly used in the United Kingdom and Ireland (for USA, Canada and Australia the Donation method may be preferred).  We will demonstrate how to raise over £1800 in just a couple of hours starting with absolutely nothing!  Hold on to your shells 'cos here we go . . .

Sources of Funds

There are six main sources of funds for the Race Night, three before the event: Race sponsorship, Runner sponsorship and Admission ticket sales, and three at the event:  Tote or 'betting' tickets,  'Lucky Dip' tickets and Auctioning the runners. We'll deal with each in turn.

Step 1: Race Sponsors and naming the races

fund raisedAction: Your team encourage local businesses to support your fundraising effort by sponsoring and naming one of the races. You also ask them to donate a prize for the sponsor of the winning snail in their race. Perhaps a 'gift voucher' or a sample of their produce.  You point out that:

 - their name and race name will be on the screen, the betting tickets and race cards
 - their name and race name will be called out by Peedy Parrot (optional)
 - they will be provided with a VIP table at the event and free tickets for say 8 guests (optional)

All this is excellent promotion and advertising.

Result: You received sponsorship of £25 per race and a small prize for the sponsor of each winning snail.

Well done! Your fundraising is underway - you have raised £200 funds. 

Note: For prestigious events you can ask for a fixed sum of from £50 to say £200 for sponsorship of a race.  If the event is for entertainment then you can simply make up fun names for the races and sponsors. A VIP (very important person) table is a table with a VIP card on it and perhaps a complimentary bottle of wine. 

 

Step 2:  Runner sponsors and naming the runners

funds raisedAction: Your team encourage friends and colleagues to sponsor and name a runner. We suggest that you allocate this task to 8 people, asking each to find sponsors for the 8 runners in one race. You point out to each sponsor that:

 - their name and runner name will be on the screen, the betting tickets and race cards 
 - Peedy Parrot will call out their runner name and name (optional)
 - they will receive a prize if their runner wins the race

Result: Congratulations!  You got 64 runners sponsored at £5 each, raising another £320 of funds.

You fundraising event is looking good.  You have now raised a total of £520

Note: Print out a sponsorship collection form for each race from our brochures & resources page.  £5  is common to name and sponsor a runner. You can also order a less expensive pack and ask everyone to sponsor a runner already named by Fundeo.  The 'default names' are shown on our race card information sheets on our brochures & resources page.   If your event is for entertainment you could just make up fun names for the runners yourself.

 

Step 3: Pay for your Race Night

Funds raisedAction: Fundeo's Race Night packs are priced from £64.99* but we shall, for the sake of this demo, assume that you order our largest and most personalised pack at £139.99*. This provides everything you need. We will also assume that you order extras as 100 admission tickets at £25 and eight sets of Lucky Dip tickets at £3, at a total cost of £188.99*. When you place your order you will  type in all your race names, race sponsors, runner names and runner sponsors names during the ordering process.

Result:  You pay out £188.99*.  Thank you! 

You have now made £331 profit and from here it's plain sailing! 

 

 

 

 

 

 

 Step 4: Admission tickets, posters and advertising

funds raisedAction: To ensure good attendance at your fundraising event you:

 - make posters to advertise your Race Night
 - sell the admission tickets or charge an entrance fee on the door
 - advertise your event in your local press (optional).

If you advertise your Race Night please be sure to include any other attractions in the advertisement e.g. a bingo game, food, bar, prizes, fun.

Result: You sell all of the 100 entrance tickets before the event at £5 each and raise £500

Congratulations!  So far you've succeeded in raising £831 of funds and the event hasn't even started yet!

Note:  Many people prefer not to charge for admission because it can deter attendance.  An alternative is to sell race cards (which we can supply) as people arrive.  If you do charge admission then you must make sure that you cover the cost of any food that you provide and try to keep the cost reasonable to encourage attendance.  You can make up your own posters using a poster template on our brochures and resources page.

 

Step 5: The 'Betting'

Funds raisedAction: At the event you get a member of the audience to break the security seal on the DVD/Video case, then you start the video and get the show moving!

At your 'tote' table, marked with the runners' ID numbers (provided), your team sell 'betting' tickets for the runners at £1 each. When the betting is closed you use the tabulator form (provided) for adding the total takings for each race, say £200, you then deduct a proportion for your good cause, say 50% (i.e. £100), and then divide the remainder (i.e. £100) equally amongst the winning ticket holders, so with 10 winning tickets that's £10 for each.  It really is that easy!

Result: Congratulations!  You sold an average of roughly £2's worth of tickets per head per race taking £200 per race. From the £1600 taken from all the eight races you paid out £800 i.e. 50% to winners and made £800 profit.

Your fundraising event is raking it in.  You've now raised £1681  of funds and there's more to come!

Note: Get our free race night tote payout calculator to help you with the calculations on your tote table. A ticket price of £1 is normal. Don't be tempted to lower the price, it just means that you'll just sell more tickets!  For lighter fundraising hold back a smaller amount of the betting money and at fun events, you can hand back all the takings to the winning ticket holders.  


 

 

Step 6: 'Lucky Dip' tickets

funds raisedAction: You appoint one person to sell a set of 28 lucky dips in every race. Note : There is only one winning ticket in each set.

Result: Congratulations! You sold the 28 tickets for each race at £2 each and paid the delighted winner in each race the sum of £25.  In total, you took £448 and paid out £200 raising £248.

Congratulation! Your fundraising effort is a tremendous success. So far you have raised £1879 funds.

Note: For events with 100 or more players, it is good to have at least one set of these tickets per race. For fewer player (say 40 - 60),  we suggest you have a lucky dip for just half of the races.

 

 

 

 

 

Step 7: Auction of the Runners

funds raisedAction: Before the last race, you pause the DVD and hold an auction to 'sell' each of the runners to an 'Owner'.  You sell each to the highest bidder and use the Fundeo auction form (provided)  to keep track of the bids. You add the total of all the bids, keep half for your 'good cause' and give the other half as a prize to the 'owner' of the winning runner. (Please note: You can still get the runners named and sponsored in this race. It may be helpful to consider the runners' sponsors as their trainers).

Result: Congratulations! You auctioned each of the runners at an average of £30. Your total auction takings were £240. You paid out £120 to the delighted owner of the winning runner and raised an extra £120 funds.

You've now raised a total of £1999

Note: An average of £30 per runner is relatively easy to achieve.  It is quite common for bids to reach £100 to £200 per runner.  Try to encourage people to bid by 'table' to share costs so you obtain higher bids. Often more money is raised on the last race than all the others put together.

 

 

 

 

Summary

funds raisedYou deserve applause!

 - everyone had fun
 - the sponsors were delighted
 - some of the winners had windfalls
 - a healthy profit was made on the refreshments
 - you staged a professional event!
 - everyone wants more Fundeo Racing soon
 - and your fundraising efforts are rewarded -you've raised £1999 !

 

 

 

 

 

 

 

 

 

Final Word

Does this sound easy?  Well, it is - but do try to share the work of getting sponsors.

Whatever happens, we believe that our personalised packs with Peedy the parrot, will make your fundraising easy; allow you to organise a risk-free event and give you the best possible chance to meet your objectives!

Please bookmark this page then use our 'Fundraise Money Race Night Calculator' to plan your event and read our 'getting started' guide.  When ready place your order in our online shop where you can personalise your Race Night pack. Good luck! 

* Special Price at time of publishing

Fundraising calculator    Getting started with a race night