There’s a reason why golf tournament contests are such popular fundraising events. Although only an estimated 9.6% of Americans actually play golf, that’s still a whopping 29 million people who enjoy hitting the green. What’s more, there’s been a 17% increase in the amount of people who play golf in the U.S. since 1990. What this all means is that the amount of people who are drawn to fundraising events like hole in one contests isn’t only high, but is also on the rise.
However, there is a way to draw an even bigger crowd: a hole in one insurance policy. For a reasonable premium, tournament organizers can offer contestants a bigger, better golf prize should they sink a hole in one on (what usually is) a par three hole for a limited set of chances. In the extreme unlikelihood that that happens, the hole in one insurance policy will completely cover the cost of the prize.
If that got your interest, then the next three points will get your curiosity.
If there’s a bigger prize being offered, more people are going to want to take a crack at it. Realistically, the odds of getting a hole in one aren’t good. According to Golf Digest, an amateur golfer has a 12,500 to one shot of sinking a hole in one. It might seem astronomical, but those odds are good enough to bet on. Who wouldn’t want to pay a little extra for three chances to win a new car?
Generate a Bigger Buzz.
A hole in one insurance policy sets the stakes higher, which means that more people are going to wan to see if someone can actually win that all-expense-paid cruise. A bigger turnout is never a bad thing, even if they’re not participating.
Acquire More Sponsors.
If a sponsor hears that the tournament is backed by a hole in one insurance policy, it’ll know that there’s going to be bigger crowds, which means that they’ll get more exposure if they invest. Essentially, it makes the tournament more desirable to sponsors.
Purchasing a hole in one insurance policy creates a bigger, better tournament. More people are going to compete; more people are going to watch; and more sponsors are going to invest. If you have any questions about how your tournament can benefit from having a hole in one insurance policy, feel free to ask in the comments.