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It's probably a combination of things, people don't want to send the money through friends and family, no guarantee that way. $80 is a lot per entry, most people would probably rather spend $8, so maybe 1000 tickets at $8/ea would sell better.
Could be, too, that folks might be willing to invest $80 knowing that their money is going, or largely going, toward a charity but wouldn't be willing to simply risk $80 on a 1 in 100 chance they'll get a '68 BSA. At least w/ the charity aspect they'll get a feel-good benefit from the expenditure otherwise spending the same $80 in a slot machine might still give the same end results but could be more fun while you lose your money.
Maybe if all entries received something (a 25% discount from your online store, a t-shirt that you had a sh!tload of and could use shifting anyway, something) then more people would get involved. 1-in-a-hundred is pretty decent odds if there's a cool bike up for grabs which there absolutely is, but it'll suck for 99 people going home empty handed
Great looking bike that I'd love to own and ride, but $80 is a lot right now even with such good odds. Raffles are always hard work and the ones I have been involved in that worked best were relatively low cost and a charitable cause benefiting from some or all of the funds.
Maybe you will get a better response after the next round of stimulus checks go out