noun / verb
raffle
RAF-ul/ˈræfl/
A lottery in which ticket holders can win prizes.
The organizer draws a raffle ticket beside the prize basket.

Etymology
The ancestor meant a dice game, and English first used the word for that game or a throw of dice. It later named a lottery in which paid chances determine who receives a prize.
In context
I’m selling raffle tickets for my high school back home to build a new gym. The tickets cost 25cents each and the prize is a new Corvette.