50/50 - What does this mean??

[pm10]

I visit TOTV daily (almost), and TV site, to learn all that I can before we make our move there next year. :bigthumbsup: In reading through the activity section, I often see get-togethers/club meetings that include 50/50's. I realize this is a stupid question - but what the heck are 50/50's! (I tried to do a search first, but didn't see anything explaining this) I guess I've lived a very sheltered life, here in Minnesota!
Marcia

[bargee]

50/50 is a raffle.You purchase tickets,usually 3 for $2.00 a raffle is held the winners split 50% of the money taken in and the club or group retains the rest for operating expenses.

[pm10]

Well, that explains it. Thanks Bargee!!