In case you missed it, the University of Arkansas' charity arm, Razorback Foundation, Inc. (RFI), launched a 50/50 style raffle (Razorback Raffle) to support Arkansas athletics. This new initiative will debut during the Razorbacks' baseball series against Tennessee. In this raffle, the winner will receive half of the total jackpot, while the other half goes to the RFI.
In August of 2024, Carlton Saffa, Chief Marketing Officer for the Arkansas-based company Saracen Casino Resort, revealed they had a 50/50 raffle ready to launch. However, reportedly, Arkansas' betting laws only allow certain authorized charitable organizations to conduct raffles, and none via online platforms. Instead of nixing the law altogether, the General Assembly of Arkansas passed a law that allowed "higher education institutions and their affiliated non-profit entities to conduct raffles for philanthropic and educational purposes..."
Potentially, Arkansas' new 50/50 raffle could be a great tactic to catapult Razorback athletics into the modern age of NIL, but there are a few things that could keep the raffle from taking off. Here, we'll break down a few of those pros and cons.
We'll start with the pros first.
Razorback Raffle: Pros and cons
Pro: It's already working
The Razorback Raffle was launched on May 13, and at the time of this article, the jackpot has already grown to over $49,000, meaning the winner would take home an estimated $24,500!
In less than two days, Arkansas managed to raise that much money in its first go-round. Plus, there are still hours left before Arkansas closes the drawings. Fans have until the end of the sixth inning to purchase their tickets. That brings us to the next point.
Pro: Cheap tickets
One of the biggest criticisms of Arkansas' NIL initiative, Arkansas Edge, is that the memberships are expensive for what you get in return. The lowest membership tier is the "Edge Supporter" at $16 a month, and with it, fans get a Hogs+, invitations to member events, and other small benefits. The highest membership (Gold) is $250 per month. It comes with a myriad of different benefits, but not $3,000 a year's worth.
The raffle gives fans an opportunity to win something substantial as well as help Razorbacks athletics. At only $10, it gives them five chances (tickets) to win. However, the highest tier of $100 buys fans 300 tickets. Fans can also buy up to $250 worth of tickets in each transaction, but there is no limit to how many transactions they can make.
Pro: Potentially game-changing
The support Razorback Raffle has received is incredible, but the best thing about it is that Arkansas can do it once for every game/sporting event. Potentially, that means hundreds of thousands of dollars could start flowing into the program.
That amount of money could put Arkansas back on the map when it comes to NIL, especially in football. Programs like South Carolina have already instituted a 50/50 raffle, and its football recruiting has reflected the change.
While there's much to be excited about, the Razorback Raffle does have a few cons.
Con: payments may take a while
For anyone who's been to the DMV, you know the government moves at its own pace. The University of Arkansas—being a publically funded institution—is in effect, a government entity.
Saffa, who's been fighting the university's raffle all the way, pointed out that it could take up to 30 days to receive payment. However, that's after the winner turns in a provided "Prize-Acceptance Affidavit" and a Release affidavit to the RFI, which can be done within 120 days of the drawing. If the affidavits are not submitted within the 120-day period, or the winner is "ruled ineligible for any reason," the prize money is forfeited.
Why does it have to take so long? Well, the affidavit confirms that the prize claimant is eligible to enter the raffle, as only contestants aged 18 years or older can purchase tickets, and the Razorback Raffle allows contestants to self-certify their age. Which Saffa also points out could be a problem.
In an X (formerly Twitter) post criticizing the raffle, Saffa wrote, " You need to get the [the third-party company running the raffle] to tighten up ag verification on that Raffle website."
"Self-certifying that someone [is] 18 years old is not a responsible operational plan."
Con: The Razorback Raffle isn't an NIL fund.
Yes, the stated intent behind the raffle is to support the Arkansas athletic department, but nowhere does it state the winnings will go solely to the pockets of athletes. The RFI can distribute the money as it sees fit, which could go to facilities, salaries, scholarships, etc.
While that's all well and good, the spirit behind Saffa's proposal—the one that started this conversation in the first place—was to help Arkansas' NIL fund directly. It was to give Arkansas a leg up with the evergrowing world of NIL.
So fans who want to support NIL directly, the raffle may not be the way to do it. Of course, with revenue sharing supposedly on the way, barring any more snafus in the House V. NCAA settlement, the RFI could use those funds to pay athletes instead of going the NIL route.