A new 50/50 raffle aimed at raising money for the Razorback Foundation was announced on Tuesday.
Arkansas athletic director Hunter Yurachek posted a link to the “Razorback Raffle” page on the official Arkansas Razorbacks website on Tuesday morning. The website says it “offers fans another exciting way to support University of Arkansas athletics programs, whether they are cheering on the Hogs in person or remotely.”
The debut of the raffle will be held in conjunction with the Diamond Hogs’ series against Tennessee this weekend, and will be the first of contests that will be scheduled for Arkansas football, basketball and baseball games, as well as other events.
The raffle is simple. All fans in the state of Arkansas and over the age of 18 can purchase a raffle ticket online, through the Razorbacks app, or in person at the venue. The ticket price is based on how many tickets one wants to buy, and there is no limit to the number of tickets one can purchase.
– 5 tickets for $10
– 25 tickets for $20
– 100 tickets for $50
– 300 tickets for $100
The raffle comes after Arkansas Governor Sarah Sanders signed the Arkansas Sports Raffle Act into law on March 13. The law allows colleges and their non-profit entities to “conduct raffles for philanthropic and educational purposes pursuant to Arkansas Constitutional Amendment 84.”
Arkansas is not the first school to introduce a 50/50 raffle, as fellow Southeastern Conference members like Kentucky, Missouri, Florida and others have also ventured into the raffle landscape.
It is worth noting that the Razorback Raffle website doesn’t say explicitly that 50% of the pot will go to Arkansas’ NIL efforts. Instead, that portion of money will go to the Razorback Foundation, but with revenue sharing on the horizon for college programs, it’s possible the raffle winnings will go toward paying players down the road.
The “Frequently Asked Questions” section of the Razorback Raffle page says the winnings are subject to tax withholding. The winning ticket will be selected by a certified electronic random number generator to ensure fairness and integrity.
For more information on the Razorback Raffle, click here.
