Golf Tournament Ideas That Raise More Money: Hole-In-One Contests & Insurance
Still looking for ideas to boost your golf tournament’s fundraising revenue? In this installment of the “golf tournament ideas that raise more money” blog series (check out the posts that focused on the pros at BackSwing Golf Events, on-course games, and in-kind donations), we’ll discuss how you can boost revenue and add excitement with a hole-in-one contest.
What’s A Hole-In-One Contest?
A hole-in-one contest is a revenue-boosting idea for a charity golf tournament. It gives golfers the chance to test their skills (or luck!) to win a prize if they shoot a hole-in-one on a specified par three hole or holes. Tournament organizers purchase hole-in-one insurance to cover the cost of the prize (or work with a sponsor to underwrite the cost of the prize) in the event someone gets an ace.
How Does a hole-in-one contest Work?
Hole-in-one contests can be added quickly to any tournament. Tournament organizers purchase their hole-in-one insurance or package, determine how many contests they want to offer, and work with golf facility staff to determine the appropriate par three hole or holes for the contest on the golf course. The minimum distance for women is usually 140 yards and 160 yards for men.
Golfers get one chance per contest to ace the hole. Entry into the contest is often included in the golfers’ tournament registration fee, but can also have a separate cost to enter. Depending on the terms of the contest insurance, a witness may be required to be present on the hole to verify if a golfer gets a hole-in-one.
What Are the Benefits of Having a Hole-In-One Contest?
It adds an extra dose of excitement into a golf fundraiser. It doesn’t matter if it’s an avid golfer or first-timer taking the shot—everyone gets excited about the possibility of winning a valuable prize! Golfers of all skill levels can participate, which encourages greater community involvement and support.
It provides additional fundraising potential to the tournament. Whether you sell a contest sponsorship, require folks to pay an entry fee to participate, or capitalize on the contest to help promote the event and attract additional teams, hole-in-one contests are packed with fundraising power.
It creates lasting memories. Yes, fundraising is important, but so is the overall event experience. A hole-in-one contest lets nonprofits further engage with participants and build connections. Plus, if someone does get a hole-in-one, you can be sure everyone will remember it (and your golf event)!
It doesn’t come with risk. Investing in hole-in-one insurance makes sure that your nonprofit is financially protected. And when you leverage the contest as a sponsorship opportunity, you’re not left covering the cost of the insurance.
What is hole-in-one insurance?
If someone gets a hole-in-one during a contest at your golf tournament, hole-in-one insurance covers the cost of the prize, such as cash, a new car, or a vacation. While it’s relatively unlikely for someone to make a hole-in-one at your event, it’s not impossible, so hole-in-one insurance removes the financial risk to your nonprofit.
How does Hole-in-one insurance work?
Once you’ve made the decision to include a hole-in-one contest in your golf fundraiser, connect with the golf facility to determine the hole or hole the contest will be held on. Next, you’ll purchase an insurance package and determine a prize. GolfStatus offers two hole-in-one contest packages with valuable prizes that attract and excite golfers, including thousands of dollars in cash, a Dormie Network Stay and Play package, or a Dormie Network membership. Like any insurance, the cost is paid up front, and if a participant hits a hole-in-one, the insurance policy will fund the prize.
How can we sell hole-in-0ne sponsorships?
Hole-in-one contests can be sold as premium sponsorships that cover your costs and raise thousands more dollars for your cause!
Start by identifying businesses that you, your nonprofit, or someone on your planning team already has a relationship with, who are interested in getting in front of the golfer demographic, or who relate to your nonprofit’s mission in some way. GolfStatus suggests targeting industries such as healthcare and luxury goods, to name a few.
Next, create sponsorship packages and a proposal that highlights the key benefits of sponsoring a hole-in-one contest, such as premier exposure while being associated with a fun, exciting part of the tournament. It’s a win-win—the sponsor supports an important cause while promoting their business to a captive audience of golfers.
How do I get started?
Click below to get in touch with GolfStatus to learn more about hole-in-one insurance, contest options, and how golf event management technology can streamline and simplify your golf tournament. Through the Golf for Good program, nonprofits and third parties planning golf tournaments to benefit one get full access to GolfStatus’ golf event management platform—with a free event website, built-in automations and fundraising tools, exclusive sponsorships and add-ons, and best-of-the-best support team—to save time and raise more money. Click below to get in touch!