Occupations Code §2002.056

(a) A prize offered or awarded at a raffle may not be money. (b) Except as provided by Subsections (b-1) and (c), the value of a prize offered or awarded at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $75,000. (b-1) The value of a residential dwelling offered or awarded as a prize at a raffle that is purchased by the organization or for which the organization provides any consideration may not exceed $750,000. (c) A raffle prize may consist of one or more tickets in the state lottery authorized by Chapter 466 , Government Code, with a face value of $75,000 or less, without regard to whether a prize in the lottery game to which the ticket or tickets relate exceeds $75,000. (d) A raffle is not authorized by this chapter unless the organization: (1) has the prize to be offered in the raffle in its possession or ownership; or (2) posts bond with the county clerk of the county in which the raffle is to be held for the full amount of the money value of the prize.