The most important thing to remember is to make money. What you charge each guest is up to you, make sure at minimum to cover your costs then increase price per person so that you are guaranteed to make money. The price per person should be based on your total cost divided by the number of people you are expecting. Whatever you charge above this cost would then be your profit.
Other ways to alleviate costs are ad journals and table sponsorship.
Example: Find a local pizzeria, retail store or even a family wants to sponsor a black jack table with a charge of $200. Then make a table sign showing who has sponsored the table. You can also give them free space in the ad journal if your organization is doing that. If you could get every table sponsored that would alleviate the casino cost and give you that much more of a profit.
Other ways to make money are 50/50’s, silent auctions, and the selling of play money.
Selling play money at the event: We recommend at the door to give them $100 in play money with their ticket and or entry. This gives them either 20 minimum $5 bets. If you give them only $100 it increases your chances of selling more money at the event.
In the past, other fundraisers have done the following.
$20 real money equals $100 play money
$40 real money equals $200 play money
$50 real money equal $300 play money
The chip denominations are as follows:
Red chips $5, Green chips $25, Black chips $100
Play money only comes in $100 denominations.
Prizes and Prize Redemption:
There are only some items that cannot be given away as prizes (cash and firearms etc..)
You will have to call the LGCCC at 973-273-8000 to get the complete list of what cannot be auctioned.
Items that are acceptable: Example: tv’s, cd players, gift certificates (not redeemable for cash), baskets, etc…We recommend double sided raffle tickets for the redemption of prizes (we will provide). We also recommend the trade in value as follows: $100 play money for 1 double sided raffle ticket, this will keep the chaos of too many tickets down and hopefully increase the number of guests buying more play money in order to obtain more raffle tickets.
Important things to know:
1. Sit down dinner’s not recommended, pass around food is the best way to go.
2. The start time of the event should be at least 30 minutes prior to start of casino.
3. Be sure to have a cashier booth or area where guests can redeem chips and tickets