Raffle - The Hypixel Pit Wiki

The box that appears in the center of the pit.

Raffle is a major event in the Hypixel Pit. Like all major events, when it occurs, 3 minutes advance warning is given. Raffle lasts for 5 minutes.

When Raffle starts, a large box appears in the center of the pit. Raffle Tickets (name tags) also begin generating around the map. Tickets can be picked up and deposited into the box in the center.

During Raffle, the following gameplay changes take effect:

Gold ingots (excluding those generated from Gold Nano-factory) are replaced with Raffle Tickets, which appear in players' inventories when picked up.
Killing a player before they can deposit their tickets causes all their tickets to drop to the ground.
When ten or more tickets are held by a player, the number of tickets they are holding appears in bold yellow text next to their name.
4 minutes and 30 seconds into the event, three random tickets are selected from the box in a 30-second long process. Players who do not have a prestige have twice as high of a chance to be selected. In order, the three players selected receive 20%, 30%, and 50% of the prize pool.
Raffle's prize pool is 500 gold for every player in the lobby at the start of the event plus 20 gold for every ticket deposited.

The following rewards can be obtained during Raffle:

1 renown if the player deposited 27 or more tickets
1,500 gold if the player deposited 27 or more tickets

Trivia

Prior to the 1.0.5 update, Gold Nano-factory could be used prior to a raffle and the golden ingots would turn into tickets. This could be used to deposit absurdly high numbers of tickets in a single event.
Raffle is the event with the least obtainable renown, as a maximum of only 1 can be obtained during the event.
On the release of the Genesis map, the raffle box would generate in the spawn area. This was quickly patched.