Transforming your casino party into a successful fundraiser event can be a very successful and enjoyable way to raise money for your favorite charity, or special project. Although you can certainly raise money through sponsored tables, ticket sales, and games revenue alone — adding a live or silent auction is a perfect fit, that can help you meet your funding goals, and contribute to the overall success of your event.
When you are planning to incorporate an auction into your casino party, it is important to think about how an auction fits into the flow and structure of your larger event. By following a few simple guidelines during the planning process, you can run a fun and successful auction, that will help you meet your fundraising goals.
Establish A Clear Fundraising Goal, And Stick To It
Auction fundraisers can be a wonderful way to raise money for a special charity or cause. However, they can also bring unexpected costs that offset your fundraising goals. You will probably need to rent a venue as well as your casino games, and your event may include a bar or catering that will also add to your up-front costs.
That is why it is important to clearly establish your fundraising goals up front, so that you know how much money you need to raise after expenses, for your event to be successful. Keep this goal front and center during the rest of your planning process, to make sure that you are not spending more than you are bringing in.
You will also want to incorporate multiple fundraising sources, including your auction, ticket sales, and corporate sponsorships, in order to make sure that your event is successful.
Decide On The Type Of Auction
An auction can easily fit into the design of your casino fundraising event, but it can also be a little disruptive if you don’t take the time to think about how it will impact your guests. With a little bit of planning, an auction can be an exciting and successful addition to any fundraising party.
Running a Silent Auction:
Silent Auctions are a popular choice for fundraising gala events. During a silent auction, your guests will be free to look at the items that they can bid on throughout the night. In order to place a bid, they will write their names down on a list, with the amount that they are willing to spend. Whoever has the highest offer by the end of the night wins the auction.
- Pros: Silent Auctions can be a great choice if you do not want to dedicate 30-40 minutes to a live auction. Guests can come and go as they please, placing one or more bids throughout the night, on multiple items in the auction. Your guests will be able to examine each item closely, and take their time deciding how much to bid.
- Cons: Although Silent Auctions simplify the process in some ways, they can also add additional complications. You will need local business sponsors to provide items that people will bid on, which requires some extra up-front planning and coordination. Your guests will also need to leave your casino floor multiple times, to check on the auction and to place further bids. Usually an announcer will remind the guests to periodically return to the auction tables. This can be a little disruptive, and asks your guests to divide their time between playing games and engaging in your auction.
Running a Live Auction:
During live auctions, an announcer will present each item to the crowd, and everyone will bid at the same time. This is the traditional auction that you normally see on television or in the movies, where one item is presented at a time, and goes to the highest bidder.
- Pros: A live auction creates an exciting event during your party, which will bring everyone together all at once to participate in bidding. With a trained auctioneer, a live auction can encourage people to spend more, as they get caught up in the excitement of the event. A live auction can be a great way to generate revenue.
To maximize the effectiveness of a live auction, we recommend keeping the total number of items fairly low, and scheduling about half an hour for the entire auction. This is the perfect amount of time to keep your guests engaged and interested, without getting bored. Afterwards, your guests can return to the casino games, or head home.
- Cons: In order to hold a live auction, you will need to temporarily stop all of the casino games and ask your guests to focus on the auction instead. Someone will also need to run the auction and keep things moving. We recommend a trained auctioneer who knows how to pace the auction and keep everyone engaged, although your needs may vary based on the complexity of your event and how many people are attending.
Though we recommend only having a small number of items for a live auction, you will still need to source those items from corporate sponsors, and make sure that the items are interesting enough for your guests to bid on.
Whatever type of auction you choose, they can be a wonderful way to raise a lot of money for your fundraiser. Deciding whether to run a silent auction or a live auction largely depends on the tone that you want to set for the night, how many items you would like to offer, and whether or not you want to stop your casino games in order to host a live auction.
Use Every Opportunity To Raise Money, And Minimize Costs
Your auction will be the centerpiece of your fundraising event, and you can treat it as part of the overall show that your guests will enjoy. However, in order to offset costs and to maximize your profit, you will want to think about other creative ways to bring in funding, and reduce the amount that you are spending on your event.
- Ticket Sales: Ticket sales can account for a large amount of your overall revenue. Make sure to set a price that will fully cover your expenses, so that you do not run the risk of coming up short after your event is over. Think about what your guests will receive with their ticket, versus what they will need to buy individually. For example, you could include a certain number of casino chips with the price of each ticket, or provide each guest with one drink.
- Sponsored Tables: Talk to local businesses and organizations to secure table sponsorships for each of your casino games. Many businesses have an interest in supporting charitable causes, or projects that benefit the whole town or community. Corporate sponsors should cover the cost of the table and dealer rental, in exchange for an opportunity to promote their brand at your event.
Running a successful auction is a great way to raise money for your fundraising event. With a little bit of pre-planning, you can design a successful casino party, that will meet all of your fundraising needs.
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We can help you plan the perfect casino themed event. Contact Full House Casino Events today at (888) 599-0104 for more information or to schedule a visit to one of our showrooms.