In the past we also did the raffle buckets with kid friendly items, baseball tickets, jerseys etc and we made great profit. Two years ago we implemented a larger "off campus" raffle to branch out to family members, neighbors, co-workers etc. It's hard for families to support every fundraiser but if you give them a fundraiser that they can solicit support from their friends, family, neighbors etc you will make more money. We started with the Big 3 raffle - 3 awesome items and this year we are having a Fabulous 5 raffle. Our big draw is a $500 gasoline gift card. Who wouldn't want to win that. Also on the ticket is a $200 Safeway gift card, GPS system, $100 Target Card and Nintendo DS. A variety of items builds interest and in this economy a prize that is useful will be a big draw. We sell these tickets for $5 you can set the cost where it fits best for your community. Remember, if someone buys 1 $5 ticket it's better than having them buy 1 or 2 $1 tickets. You will raise more money and purchase less tickets (cost will be less) by having a higher ticket price.
Don't be afraid to spend a little money to get a "flashy" item on the ticket. If you have at least one item that anyone would want you can sell tickets at the local mall, grocery store, etc. Encourage each family to sell xx amount of tickets and let everyone know how much you could make if everyone sold their tickets. Put a big poster in the main entrance of the school and track the money raised on a weekly basis - we sell these tickets for 4 - 5 weeks. Make sure you cheerlead for how awesome your families are in the newsletter or on your website. Constantly send encouraging messages and let your community know how close you to your goal. Hype is good!!!
Another fun thing we implemented was a weekly prize for student sales. For each B3 ticket a student sells they are entered into the weekly drawing for prizes (little things that kids love - we're a K-5). This keeps the kids motivated throughout the entire raffle sales not just in the beginning. 4 or 5 winners per week will increase your sales. Little prizes $1 or less are fine as motivators. We raised our sales 50% this year by implementing the weekly prizes for multiple winners (5) instead of one winner at the end for selling the most tickets. Lot's of winners = lot's of excitement!
Good Luck!