I would be in.
I have seen these sort of things on other forums (I collect rock art also) and a few tips that I have seen work well in the past:
-need a trustworthy person to run it (assuming payments are via paypal gift?)
-need to have the drawing be done by a non partial person >> works well if you pick a specific state lotto and just use their ball drawing in some fashion to pick the winning number.
-be aware that there are surely some legal issues with doing a 'raffle' when the person running it is not a NPO. Might need to constructively word things if you are worried about it. For this reason I think fewer entrants with a high cost is better (also, I think there are powerball lottos where they select from 60 balls??).