How do these raffles on IG ads work?

I’ve been getting a lot of car giveaway ads on IG.

“$5 for 50 entries”

some have an e-commerce store, and when you buy certain items, you gain XX entries.

I have a buddy who runs a raffle group on FB with ~5k members and he does items and cars, but he doesn’t advertise or anything.

I can tell the site was just thrown together because it still has the Shopify favicon.

Anyone that Knows this game? What audience would you target?

craify said:

the giveaway offer have more chances in conversion than some other niche and some cpa offer could be good too.

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An example is @ownbosssupplyco

Yes, used to run traffic for a lot of these. BIG money returns if you setup right. But upfront has a heavy sunk cost to making ads and capital work.

Giveaways works always