Streamers are constantly looking for new ways to monetize their following and turn content into profit. One trend that has picked up pace recently is the offering of live digital raffles. These raffles can offer prizes including cash, merchandise, holidays or other items of value, with viewers able to purchase tickets.
The result of the raffle is then streamed live, with the winner typically active in the chat. Live raffles are a form of interactive, dynamic content that can draw new viewers while helping retain existing fans and driving user engagement.
Platform Assistance
Streamers can use existing platforms to establish and run the raffles themselves. For example, in realraffle.com, raffle hosts are able to view how many tickets are purchased and draw the raffle itself, having used the platform to sell tickets, collate buyer information, and deliver the prizes in their required format.
Greater Interactivity
Live raffles are typically interactive. Players may be required to post comments or specific emojis in the chat to enter. Not only does this demonstrate engagement with other players—which can itself encourage greater participation—but streams with higher engagement figures are more likely to attract new viewers.
Some streaming platforms also prioritize content creators with the highest engagement figures. Viewers are more inclined to chat with one another during live raffles as well, which further increases engagement levels.
Viewer Retention
Streams can go on for hours and naturally include high points as well as lulls. Keeping viewers’ attention for a four or five-hour gaming session can be really challenging. Live raffles offer excitement. They keep viewers glued to their monitors, therefore reducing drop-off rates. If regular watchers know that a streamer holds regular live raffles, they may also be more likely to return to the stream on another day, meaning that events like these can really help boost viewer retention rates.
Fun Viewing
Only one or a handful of viewers can usually win the raffle prizes on offer, but even viewers who don’t win anything find raffle draws entertaining. It’s fun to get excited about the potential of winning, and seeing genuine viewers being drawn to collect prizes also reinforces feelings of fairness. Raffles and content like raffles are exciting for viewers, which is another reason people are more likely to return to watch content again.
Interaction
Stream interaction is important. Whether it’s interaction between the streamer and their viewers or between viewers themselves, greater interaction means improved retention and better conversion rates—turning passive viewers into active participants. Not only does this help boost viewer numbers, but many sponsors and advertisers actively look for streams and channels with the highest levels of interaction and engagement. Sponsors know these communities are the most likely to respond to their content.
Low Price Point
Raffles are usually inexpensive to enter. Prices can vary from one competition to the next, but tickets are typically no more than a couple of dollars each. Even if a streamer has only a relatively small number of participants, they can still offer a decent prize. Some entrants may even prefer smaller competitions with smaller prizes because there’s a greater chance of winning.
Rewarding
People love to win, whether it’s a round of multiplayer Call of Duty or the latest gaming monitor. Winning generates a biological response, releasing dopamine in the brain, that makes us feel good, increases our energy levels, and leaves us wanting more. This desire to win is what keeps people coming back to player lotteries every week, and it is what leads many people to play competitive sports, both physical and digital. The possibility of winning is also what encourages viewers to return to streams and channels that offer regular prizes through raffles and other contests.
Global Participation
Typically, digital raffles offer digital prizes or prizes from companies that operate globally. This means that the competitions are not reserved solely for players in one geographic location. Similarly, streamers are not usually constricted by their physical location. Digital raffles are the perfect accompaniment to a streaming channel.
Direct Revenue Earning
For many, streaming is a means of earning money. Raffles can earn streamers direct revenue through the money made from ticket sales, although at least some of the money is used to pay for prizes and to pay towards raffle platform administrative charges. The amount earned depends on the cost of the tickets, the number of people who buy tickets, and what costs have to come out of the total revenue, but regular raffles can help supplement other forms of streaming income.
Sponsorship Attraction
Raffles can increase view numbers and enhance engagement levels from those viewers. These are two of the most important figures companies look at when considering streamers and content channels to advertise on. Therefore, raffles can help encourage new sponsorship deals or increase the money offered by sponsors to the channel. Streamers do tread a fine line, ensuring they offer enough additional content to keep viewers entertained and to finance their channel, without detracting from the main point of the channel, but a stream lasting several hours can handle sponsor sections and raffles without becoming bloated.
