Wis. Stat. § 563.908: Requirements of raffles.

(1) A raffle may not be conducted in this state unless any winner in the raffle is determined by a drawing with all tickets or calendars having an equal opportunity to win.

(2) Except as provided under sub. (3), a qualified organization under s. 563.907 may not conduct a raffle unless it first receives a license under s. 563.92.

(3) A qualified organization under s. 563.907 that has not received a license under s. 563.92 may conduct a raffle if all of the following apply:

(a) The raffle tickets are offered for sale only to members of the qualified organization.

(b) The prize is a cash award equal to one-half of the ticket proceeds, rounded up to the nearest whole dollar.

(c) The prize does not exceed $500.

(d) The qualified organization complies with the requirements of s. 563.935 and all other applicable requirements of this subchapter.